• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar

Green VC

News & resources for a better world

  • Green and Social Venture Capital
  • Awards and Fellowships
  • Crowdfunding Sources
  • Press Releases
  • Contact

IGNIA Fund I, Latin America’s First Social Venture Capital Fund, Completes Second Closing

December 6, 2008 by Staff

IGNIA

IGNIA Fund I, L.P., Latin America's first social venture fund, announced in November that it completed its second closing and now has a total of $34 million in equity commitments.  Investors include the Multilateral Investment Fund (MIF) of the Inter-American Development Bank (IDB), a US family foundation, and European and Latin American individuals. This second round was $13.6 million; IGNIA's initial closing of $20.6 million took place in June and was led by Omidyar Network. 

IGNIA states that its goal is to raise $50 - $75 million in equity through future closings into early 2009. Combined with $25 million in debt financing IGNIA closed on with the IDB, IGNIA will invest a total of $75 – $100 million in innovative businesses that meet the needs of the low income population in Mexico and other areas of Latin America.  IGNIA announced its initial two investments in September – a $3 million commitment to Primedic, which delivers health care services to urban low-income individuals and families, and a $2 million investment in Jardines de Grijalva, an affordable housing development in Chiapas, Mexico (made through its real estate subsidiary).

"This US$13.6 million capital closing and the recently announced US$25 million debt financing have both been closed after the start of the financial crisis," said Alvaro Rodriguez Arregui, IGNIA co-founder and Managing Partner. "We deeply appreciate the trust of our investors at this sensitive time, and it is a clear indication of how strong they deem the IGNIA business model, the team we have assembled and our theory of change."

"Partnering with the MIF will bring tremendous value to IGNIA," said Michael Chu, co-founder and Managing Director of IGNIA. "We will benefit from the substantial experience the MIF has built in pioneering equity investing in the region."

"By supporting IGNIA, MIF is not only supporting the creation of a new venture fund dedicated to the base of the pyramid segment, but is also helping create a new segment within the venture capital industry that will focus on fighting poverty, combining the lessons learned from microfinance with the financial tools of venture capital," said MIF team leader Susana Garcia-Robles. "The demonstration effect of this fund could lead the way for many more similar initiatives in the region."

For more information

  • IGNIA – Home page
  • IGNIA Completes Second Closing, Bringing Fund I to US$34 Million (November 25, 2008)
  • IGNIA completes US$20.6 million funding round led by Omidyar Network (June 10, 2008)

Filed Under: IGNIA, Inter-American Development Bank (IDB), Latin America, Mexico, Multilateral Investment Fund (MIF), Omidyar Network, Social Venture Capital (VC)

Primary Sidebar

Featured Jobs

* Program Associate, The William and Flora Hewlett Foundation (Menlo Park, CA)
* Arborist Climber, Bartlett Tree Experts (Emmaus, PA)
* Chief Impact Officer, The League (Location Flexible)
* Operations Manager, The League (Location Flexible)
* Political Director, The League (Location Flexible)
* Climate and Clean Energy Program Director, Natural Resources Council of Maine (Augusta, ME)
* Vice President for Environmental Justice, Conservation Law Foundation (Boston, MA)
* Educational Instructor and Animal Care (Part-time), Echoes of Nature (Bowie, MD)
* Energy and Climate Research Analyst, Global Energy Monitor (Location Flexible)
* Executive Director, Clean Energy NH (Concord, NH)
* Executive Director, Teton Regional Land Trust (Driggs, ID)
* VP / Director of Operations, Memorial Park Conservancy (Houston, TX)
* Farm Program Coordinator, Nuestras Raíces (Holyoke, MA)
* HVAC / Construction / Energy Inspector (HERS Rater) - $2,500 Sign On Bonus, PEG, LLC (Cleveland, OH)
* Program Manager - Alaska Youth for Environmental Action, Alaska Center Education Fund (Anchorage, AK)
* Marine Research Associate, University of Rhode Island (Narragansett, RI)
* Senior Government Affairs Advocate - Conservation, League of Conservation Voters (Washington, DC)
* Senior Membership Manager, City Parks Alliance (Washington, DC)
* Landscaper / Gardener, Mad Hatter Garden Designs (Portland, OR)
* Program Assistant, David and Lucile Packard Foundation (Los Altos, CA)
* Landscape / Restoration Designer, Blue Flax Design (Harwich, MA)
* Landscape / Restoration Design Director, Blue Flax Design (Harwich, MA)
* Data Program Manager, Fair Trade USA (Remote or Oakland, CA)
* Executive Director, Northern Plains Resource Council (Billings, MT)
* Environmental Project Assistant, Galileo Project (Tempe, AZ)
* Seasonal Event Assistant, The Trustees of Reservation (North Andover, MA)
* Botanic Specialist - Natural Resources Youth and Community Program, City of Portland (Portland, OR)
* General Manager, Bluff Country Co-op (Winona, MN)
* Resource Conservation Program Manager, County of San Mateo (Redwood City, CA)
* Oregon Woods Boss (Field Coordinator), Northwest Youth Corps (Eugene, OR / Tacoma, WA / Boise, ID)
* Hiring Manager, Southern Environmental Law Center (Charlottesville, VA)
* Lead Solar Installer, Mendocino Solar Service (Mendocino, CA)
* Youth Engagement Manager, The Climate Reality Project (Location Flexible)
* Administrative Assistant (Watershed), Marin Municipal Water District (Fairfax, CA)
* VP and Executive Director - CT & NY, National Audubon Society (Connecticut and New York)
* Food and Agriculture Campainger, Friends of Earth (Washington, DC)
* Volunteer Coordinator, Friends of the Columbia Gorge (Hood River, OR or Washougal, WA)
* Head of Investments, Gavi: The Vaccine Alliance (Washington, DC)
* Field Manager, Savannah Tree Foundation (Savannah, GA)
* Technical Project Analyst, Dimagi (Cambridge, MA)
* Seasonal Special Education Coordinator, The Trustees of Reservation (Lincoln, MA)
* Environmental Summer Steward, Green Iowa AmeriCorps (Multiple locations in Iowa)
* CEO, WildAid (San Francisco, CA)
* Environmental Services Director, City of Fort Collins (Fort Collins, CO)
* Prairie Expert / Native Areas Specialist, Mariani Landscape (Lake Bluff, IL)
* Human Rights Investigator, Fair Food Standards Council (Sarasota, FL)
* Planned Giving and Donor Services Associate, Friends of the Earth (Washington, DC)
* People Operations Specialist, Friends of the Earth (Washington, DC)
* Communications Associate, Center for Climate and Energy Solutions (Arlington, VA)
* Customer Support Specialist (Solar), Folsom Labs (Location Flexible)
* Clean Energy Campaign Associate, Environment Georgia (Atlanta, GA)
* Zero Waste Campaign Associate (Beyond Plastics), U.S. PIRG (Boston / DC / Denver)
* Campus Organizer, Student PIRGs (Multiple Locations)
* Canvass Director, Fund for the Public Interest (Multiple Locations)
* Executive Assistant (Confidential Client) (Denver/Boulder)
* MovingWorlds Institute Global Fellowship (Location Flexible)
* Sierra Stewardship and Restoration Manager, Save The Redwoods League (San Francisco, CA)
* Director - Fund Control, Monitoring and Evaluation, Emergent (Barcelona / New York / DC / Miami / London)
* Executive Director, Connecticut Women's Education and Legal Fund (Hartford, CT)
* CEO, International Living Future Institute (Seattle, WA)
* Legislative Coordinator, The Climate Reality Project (Location Flexible / DC)
* Manager - Data Services, Marin Agricultural Land Trust (Point Reyes Station, CA)
* Program Officer - Water, Pisces Foundation (San Francisco, CA)
* Executive Director, The Talking Farm (Skokie, IL)
* Urban Farm Intern, The Talking Farm (Skokie, IL)
* Director of Science, Save The Redwoods League (San Francisco, CA)
* Director of Conservation - Hawaii Chapter, The Nature Conservancy (Honolulu, HI)
* Program Manager - Industrial, Energy Trust of Oregon (Portland, OR)
* Director of Stewardship, Berkshire Natural Resources Council (Pittsfield, MA)
* Restoration Program Manager, Sonoma Ecology Center (Eldridge, CA)
* Director of Development, JMT Wilderness Conservancy (Menlo Park, CA)
* Front End Developer, Climate Central (Location flexible)
* Head of Responsible Sourcing and Vendor Compliance, Brilliant Earth (Multiple locations)
* Grants Assistant, Agua Fund (Washington, DC)
* Multiple roles, including Horticulturalist, Summerhill Landscapes/Kathryn's Gardens (Sag Harbor, NY)
* Environmental Media Communications Specialist, Burness (Location Flexible / DC preferred)
* Educator, UTEC, Inc. (Lowell, MA)
* Clean Energy Advocate, Common Energy (Location Flexible)
* Managing Associate, Center for Transportation and the Environment (Atlanta, GA)
* Managing Consultant / Project Manager, Center for Transportation and the Environment (Atlanta, GA)
* Managing Associate, Center for Transportation and the Environment (Saint Paul, MN)
* Managing Consultant / Project Manager, Center for Transportation and the Environment (Saint Paul, MN)
* Senior Officer, Human Dimensions, Conservation Science, The Pew Charitable Trusts (Washington, DC)

Click here to have your job listed!

Copyright © 2021 · Magazine Pro on Genesis Framework · WordPress · Log in