RIN secures over $200M in new investment commitments for refugees and forcibly displaced people
The Refugee Investment Network (RIN) was officially announced at SOCAP18 as the first impact investing and blended finance collaborative dedicated to creating long-term solutions to global forced migration. The RIN accompanied its announcement with the release of its first major report for investors, Paradigm Shift, which provides the first landscape of the what, why, who, where, and most importantly, how, of investing in and with refugees.
As just one indication of the momentum behind “refugee investments,” the RIN also celebrated on stage over $200M in new investment commitments for refugees and forcibly displaced people. These commitments from a variety of organizations across the capital & enterprise continuum mark an important first step in the RIN’s efforts to prove that refugees are investable and to move private capital from the sidelines into sustainable refugee investments.
Read more about the commitments below:
Who they are: Amplio Ventures was started by Chase Carroll and Chris Chancey, the founders of Amplio Recruiting, a highly profitable recruiting firm in Atlanta, Georgia, which has successfully placed over 3,000 resettled refugees into construction, hospitality, and advanced manufacturing jobs.
Their commitment: By 2030, Amplio Ventures will deploy $100 million of capital in businesses restoring refugee stability.
Who they are: SEAF is an investment management group that provides growth capital and business assistance to small and medium enterprises (SMEs) in emerging and transition markets underserved by traditional sources of capital.
Their commitment: To apply the RIN’s Refugee Investment Lens to their investments globally, including a dedicated Flex Account fund, which will deploy at least $50 million to forcibly displaced entrepreneurs and related ventures by 2021. SEAF will also match each Refugee Lens Investment with 3% of its own money.
Ascend Venture Fund (AVF)
Who they are: The Ascend Venture Fund (AVF), Greece’s first social impact fund, will invest in small and medium enterprises (SMEs) in Greece to create quality jobs for refugees, migrants, and vulnerable locals.
Their commitment: To build a replicable model for a country-specific impact investing fund deliberately designed to forge stronger intercommunal relations between local populations and recent arrivals. The AVF aims to reach 2000+ refugees and other vulnerable populations and support 25+ SMEs in Greece.
Who they are: Kiva is an international nonprofit with a mission to connect people through lending to alleviate poverty.
Their commitment: To launch the Kiva Refugee Investment Fund, Kiva’s first returns-seeking product of any kind available to accredited investors, which will scale proven lending solutions to refugees and host communities.
Fund Size: $50 million
Capital Type: Debt
Expected IRR: 1% to 5%
Loan Term: 3 to 10 years
Who they are: TerraBlanca is an impact investment fund that aims to empower the internally displaced population (IDPs) and other victims of the armed conflict in Colombia.
Their commitment: To launch a pilot for the Rural Displacement Fund (RDF), which will support internally displaced populations of rural Colombia to return as smallholder farmers with access to financing and to international markets.
Who they are: 17 Asset Management is an asset management firm dedicated to aligning clients’ financial objectives with the advancement of the U.N. Sustainable Development Goals.
Their commitment: 17AM’s first fund will invest in Jordan and 30% of investments will positively impact refugees using criteria defined by the RIN.
Who they are: Through applied research, the Post Road Foundation helps communities develop intelligent, broadband-connected infrastructure to drive digital inclusion, efficient resource management, and economic growth.
Their commitment: To pilot a new model for developing high-speed internet and resilient electric and water infrastructure for displaced and other disadvantaged communities, including Native American people.
Who they are: Five One Labs is a start-up incubator that helps refugees and conflict-affected entrepreneurs launch and grow their businesses in the Middle East.
Their commitment: In the coming months, Five One Labs will launch the Female Founders Fellowship for female entrepreneurs from displaced and conflict-affected backgrounds in Iraq. Five One Labs is also launching the first $10,000 RIN Tech Award for the top tech idea coming out of our incubator in 2019.
Want to learn more about current activity in the refugee investing space? Read Paradigm Shift, the RIN's landscape report, here >>