SINGAPORE, 24 January, 2018 – In line with its mission of empowering women, developing communities and helping the planet, the IIX Growth Fund (IGF) has made its first investment which will support PT Green Enterprises Indonesia (GEI), a producer of high-quality organic cold-pressed virgin coconut oil and other organic coconut products based on Simeulue Island, Aceh Province, Indonesia. In operation since 2016, GEI sustainably sources coconuts from smallholder farmer groups, providing economic opportunity to local farmers and their families while actively promoting environmental and wildlife protection. IGF’s US$475,000 equity investment, to be provided in two tranches, will allow GEI to expand the scale of its operations, improve the lives of over 4,300 people and conserve the forest and marine environment.
GEI has a strong social and environmental impact mission at the core of its business. This includes creating a sustainable organic value chain for coconuts on the island as well as enabling local farmers and communities to capture the benefits through higher income and improved agricultural practices. GEI also reduces deforestation and practices turtle conservation.
Jane Dunlop, Director and Co-Founder, said “This investment represents an important shift towards sustainable investment in our region. Our business model is set up to protect critical marine habitats and their species, including endangered sea turtles, and to add value at origin through meaningful employment and increased agricultural productivity outside of protected forest ecosystems. We feel grateful for the partnership with IIX and are looking forward to growing together.”
The IIX Growth Fund has been launched by IIX to make direct equity investments in innovative Impact Enterprises that promote inclusive growth in select underserved emerging and frontier markets in South and Southeast Asia. It prioritizes investments that:
- Are owned by women or with a significant positive impact on women beneficiaries
- Address climate change issues through adaptation and mitigation strategies
- Enable access to healthcare, education and other critical needs for marginalized communities
According to Luke Swainson, CEO and Co-founder, “We are proud to be working with IIX and the Government and people of Aceh to bring sustainable investment to Aceh, Indonesia after a long period of conflict and the devastating 2004 Boxing Day Tsunami.”
Robert Kraybill, Head of Portfolio Management for IGF, commented that “We are thrilled that the IIX Growth Fund has made its first investment in GEI, a company that so well aligns with our values and our investment thesis. We look forward to being active partners helping build a strong growth path for the company to achieve its financial, social and environmental impact targets.”
About IIX: Impact Investment Exchange (IIX) is a Singapore-based impact enterprise that builds pathways to connect backstreets of underserved communities to the Wall Streets of the world through impact investing. IIX investment platforms and innovative financial products enable impact enterprises to accelerate their business and scale their positive impact, while pushing the impact investing space from the margins to the mainstream. To date, the work of IIX has spanned 40 countries and continues to expand with the mission of unlocking US$1 billion of impact investment capital, impacting 65 million lives by 2022.
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