The Social Investment Fund or FIS | Ameris is the first private investment fund (FIP) in Chile whose objective is to invest in companies and social institutions in need of financing to grow and achieve self-sustainability. This fund offers in Chile a solution for “social investors” who are looking for an investment that has, in addition to economic profitability, a high social impact.
The FIS, which as of February 2018 is under the protection of Ameris Capital, has raised two impact investment funds. The first, in 2010 for an amount of USD $4.5 MM, was already invested in 7 institutions or projects. The second, FIS 2.0, for an amount of USD $7.5 MM, has been active since August 2017 and has already made two early stage investments.
History
The Social Investment Fund (FIS | Ameris) is a private Investment Fund with the objective of investing in social institutions and companies, which require resources to continue developing their model and are capable of achieving operational self-sustainability. This was developed and managed in its beginnings (2010) by Claro y Asociados, a company with experience in Chile advising companies in Corporate Finance, Strategic Consulting. In 2014, Claro y Asociados was renamed Ameris Capital.[1][2].
The FIS operating model seeks to be a bridge between investors and these organizations with the objective of solving social problems, mainly those most vulnerable sectors at the base of the pyramid, and that have not been served by traditional public and private institutions.
Its history begins with the first capital raising. For ten months, between November 2009 and August 2010, the process called roadshow was developed, where potential investors were identified and worked, including: private investors (high-net-worth companies and families), foundations and development agencies.[3].
After raising capital, in October 2010 the first Social Investment Fund in Chile was launched, with 21 contributors, USD $4.5 and a duration of 10 years. In 2011, the FIS made its first investment in Lumni, with whom the Ilumina Fund was created, intended to finance the technical-professional education of 196 students with low access to financing. The same year, investment was made in the second project, the ATE Promoeduc, which at that time belonged to the Fé y Alegría Chile Foundation. The second investment sought to enhance the development and coverage of Promoeduc services, a company that provides External Educational Technical Assistance, to improve the quality of education in schools with vulnerable students in the system.
Impact Investment
Introduction
The Social Investment Fund or FIS | Ameris is the first private investment fund (FIP) in Chile whose objective is to invest in companies and social institutions in need of financing to grow and achieve self-sustainability. This fund offers in Chile a solution for “social investors” who are looking for an investment that has, in addition to economic profitability, a high social impact.
The FIS, which as of February 2018 is under the protection of Ameris Capital, has raised two impact investment funds. The first, in 2010 for an amount of USD $4.5 MM, was already invested in 7 institutions or projects. The second, FIS 2.0, for an amount of USD $7.5 MM, has been active since August 2017 and has already made two early stage investments.
History
The Social Investment Fund (FIS | Ameris) is a private Investment Fund with the objective of investing in social institutions and companies, which require resources to continue developing their model and are capable of achieving operational self-sustainability. This was developed and managed in its beginnings (2010) by Claro y Asociados, a company with experience in Chile advising companies in Corporate Finance, Strategic Consulting. In 2014, Claro y Asociados was renamed Ameris Capital.[1][2].
The FIS operating model seeks to be a bridge between investors and these organizations with the objective of solving social problems, mainly those most vulnerable sectors at the base of the pyramid, and that have not been served by traditional public and private institutions.
Its history begins with the first capital raising. For ten months, between November 2009 and August 2010, the process called roadshow was developed, where potential investors were identified and worked, including: private investors (high-net-worth companies and families), foundations and development agencies.[3].
After raising capital, in October 2010 the first Social Investment Fund in Chile was launched, with 21 contributors, USD $4.5 and a duration of 10 years. In 2011, the FIS made its first investment in Lumni, with whom the Ilumina Fund was created, intended to finance the technical-professional education of 196 students with low access to financing. The same year, investment was made in the second project, the ATE Promoeduc, which at that time belonged to the Fé y Alegría Chile Foundation. The second investment sought to enhance the development and coverage of Promoeduc services, a company that provides External Educational Technical Assistance, to improve the quality of education in schools with vulnerable students in the system.
The following years the investment process continues, evaluating dozens of projects each year, in a long process of study and evaluation of each case. In 2013, an investment was made in the La Protectora de la Infancia foundation, to expand the infrastructure of the Luis García de la Huerta school, allowing access to Full School Day (JEC). Then, also in 2013, we invested in TECHO, for the purchase of land in strategic areas with the objective of constructing social housing. In 2013, the first closing of the portfolio was carried out: in less than two years, Promoeduc achieved its economic sustainability by prepaying the FIS and completing the growth process.
The fifth project in the portfolio was the CEIA Quimahue, with whom we invested, in 2014, in a new building that allows doubling the enrollment of the establishment that offers study opportunities to students (adults) excluded from the educational system.
In 2015, we invested in the development of the drum area of the company B Late!, who donate 100% of their profits to foundations. Finally, in 2016, the last investment of the first fund was made in the e-waste recycling and marketing company, Chilerecicla.
Throughout the active period of the fund, until now, activities have included support in the management of the different projects in the portfolio, corresponding to the third stage of the fund's implementation. The social results achieved by the projects are summarized in the following quote:.
As mentioned in the official FIS source | Ameris, in mid-2017 the second investment fund was launched. The "FIS 2.0" is active and currently in the search and selection stages of projects, in addition to some first early investments.
Operation
The Social Investment Fund is managed by Ameris Capital. The projects that participate in the Fund are supervised so that they meet the criteria of economic and social return. Its structure contemplates the participation of different agents, including:
Investment objective and tools
Contenido
La Misión del FIS es “poder buscar y seleccionar empresas e instituciones sociales con alto impacto social y que tengan necesidad de financiamiento para crecer y alcanzar sustentabilidad operativa y lograr generar retornos financieros”. Como objetivo adicional el FIS busca poder hacer un seguimiento a las inversiones con el objetivo adicional de apoyar la gestión de las instituciones y compartir las mejores prácticas de las mismas en la sociedad.
Investment tools
Until February 2018, the investments made mainly contemplate the issuance of debt for the institution or company that receives the financial resources. In addition, you participate in social institutions through equity.
Investment criteria and process[5]
Los criterios de inversión del FIS contemplan requerimientos solicitados a las instituciones que postulen, las cuales pueden ser desde una Organización sin ánimo de lucro hasta sociedades con fines de lucro.
Social Criteria
The FIS establishes the implementation of this fund through 3 stages.
Social impact measurement
The FIS measures its social impact through the GIIRS system (Global Impact Investing Rating System) in order to have a transparent system for the market and investors. On the other hand, the FIS monitors the evolution of the social impact of its investments through the social results that they generate.
In the last two editions, 2016 and 2017, the FIS was recognized as one of the "Best for the World Funds" by B the Change.[6].
Project portfolio
In its first version, the FIS currently has 6 active investment projects and one closed. The projects are:
In its second version, FIS 2.0, it has so far invested in two early-stage projects:
[2] ↑ «Etcheberry Consultores » Blog Archive » Jorge Claro vende su participación en Claro y Asociados». www.jec.cl. Consultado el 13 de febrero de 2018.: http://www.jec.cl/articulos/?p=42589
The following years the investment process continues, evaluating dozens of projects each year, in a long process of study and evaluation of each case. In 2013, an investment was made in the La Protectora de la Infancia foundation, to expand the infrastructure of the Luis García de la Huerta school, allowing access to Full School Day (JEC). Then, also in 2013, we invested in TECHO, for the purchase of land in strategic areas with the objective of constructing social housing. In 2013, the first closing of the portfolio was carried out: in less than two years, Promoeduc achieved its economic sustainability by prepaying the FIS and completing the growth process.
The fifth project in the portfolio was the CEIA Quimahue, with whom we invested, in 2014, in a new building that allows doubling the enrollment of the establishment that offers study opportunities to students (adults) excluded from the educational system.
In 2015, we invested in the development of the drum area of the company B Late!, who donate 100% of their profits to foundations. Finally, in 2016, the last investment of the first fund was made in the e-waste recycling and marketing company, Chilerecicla.
Throughout the active period of the fund, until now, activities have included support in the management of the different projects in the portfolio, corresponding to the third stage of the fund's implementation. The social results achieved by the projects are summarized in the following quote:.
As mentioned in the official FIS source | Ameris, in mid-2017 the second investment fund was launched. The "FIS 2.0" is active and currently in the search and selection stages of projects, in addition to some first early investments.
Operation
The Social Investment Fund is managed by Ameris Capital. The projects that participate in the Fund are supervised so that they meet the criteria of economic and social return. Its structure contemplates the participation of different agents, including:
Investment objective and tools
Contenido
La Misión del FIS es “poder buscar y seleccionar empresas e instituciones sociales con alto impacto social y que tengan necesidad de financiamiento para crecer y alcanzar sustentabilidad operativa y lograr generar retornos financieros”. Como objetivo adicional el FIS busca poder hacer un seguimiento a las inversiones con el objetivo adicional de apoyar la gestión de las instituciones y compartir las mejores prácticas de las mismas en la sociedad.
Investment tools
Until February 2018, the investments made mainly contemplate the issuance of debt for the institution or company that receives the financial resources. In addition, you participate in social institutions through equity.
Investment criteria and process[5]
Los criterios de inversión del FIS contemplan requerimientos solicitados a las instituciones que postulen, las cuales pueden ser desde una Organización sin ánimo de lucro hasta sociedades con fines de lucro.
Social Criteria
The FIS establishes the implementation of this fund through 3 stages.
Social impact measurement
The FIS measures its social impact through the GIIRS system (Global Impact Investing Rating System) in order to have a transparent system for the market and investors. On the other hand, the FIS monitors the evolution of the social impact of its investments through the social results that they generate.
In the last two editions, 2016 and 2017, the FIS was recognized as one of the "Best for the World Funds" by B the Change.[6].
Project portfolio
In its first version, the FIS currently has 6 active investment projects and one closed. The projects are:
In its second version, FIS 2.0, it has so far invested in two early-stage projects:
[2] ↑ «Etcheberry Consultores » Blog Archive » Jorge Claro vende su participación en Claro y Asociados». www.jec.cl. Consultado el 13 de febrero de 2018.: http://www.jec.cl/articulos/?p=42589