"Investing for impact is not just a feel-good decision; it’s a smart and savvy one too. Our portfolio not only drives positive change but also taps into fast-growing markets and industries prioritizing sustainability, social responsibility and innovation. We are proud our investments make a difference in areas such as renewable energy, carbon tech, financial inclusion, low-cost healthcare and education while still delivering returns that compare favorably to traditional investments. Our impact investing portfolio combines performance, purpose and passion, making it a winning choice for those driven by a desire for impact.”
Introduction
Fabio Kestenbaum
Chief Executive at Positive Ventures
Impact overview
Total Lives impacted:
(cumulative)
10% Growth (YoY)
3,1M
2021
3,4M
2022
Total Revenue:
60% Growth (YoY)
$ 50M
2021
$ 80M
2022
Portfolio market cap:
135% Growth (YoY)
$ 391M
2021
$ 920M
2022
Total catalytic capital AUM:
+$ 40M
Capital allocated per Impact Themes:
Planet Prosperity: 27%
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Social Resilience: 73%
SGDs Positive Ventures:
% of investments addressing each SDG
Investments Locations
We are currently making a positive impact in 22 countries:
Third party evaluation:
One portfolio company became a B Corp: Neomed
28% of our portfolio companies are B Certified.
Partnerships to improve and evaluate impact:
2 investees had an impact report done by independent external evaluators in 2022. Provi by Yunus Social Business and Slang by 60Decibels.
Workforce Women diversity:
1,4k
Total number of employees in our active portfolio
57%
are women
(according to World Bank data, the Latin American average is 41%)
80%
of our active portfolio have women in leadership
positions
53%
of our active portfolio have at least one female founder
(according to International Labor Organization data, the Latin American average is 7%)
Gender
Lens:
The 2X Challenge was launched at the G7 Summit 2018 as a bold commitment to inspire DFIs/IFIs and the broader private sector to invest in the world’s women.
Positive Ventures and 80% of our portfolio companies meet the standards of the 2X Challenge.
Beneficiaries:
75%
of the beneficiaries (1) come from low-income population (2)
(1) This is an estimate based on the portfolio companies that apply to the referring data
(2) Class C, D & E in Brazil
Portfolio Impact performance overview:
1,8k
Schools
485k
Students
660k
Tons of compensated solid waste
2,3M
Job opportunities created
4,4M
Exams
1,9M
Carbon Credits (booked)
“I learned to face challenges and trust that things will work out if we do your best. The best part is knowing that their talent is being used to improve the situation of the most vulnerable people and the environment, which they help to protect.”
“Empathy, care, quick and specialized service, from the attendants on Whatsapp to the doctor who assisted me, all attentive and willing to help me in everything.”
“I started the course as a janitor, I left as a Data Science intern, I managed to fulfill the promise I had made to myself to enter the technology sector before the pandemic ended. This life-changing opportunity has changed not only my professional life, but changed my mind as well, the way I see problems and challenges. Everything became more interesting.”
“Now it is easier to understand conversations in English and reading articles and books is more accessible.”
“I never thought I would sell anything in my life and, because of the whole team, they taught me how to sell and deliver to people in a very short time. I feel happy and I don't think about leaving, because I feel part of the community.”
“Despite having taken several courses and always looking to develop myself, I couldn't find a job. They have changed that! I am going to work at a company I admire a lot and I will get there much more prepared for the challenges I may encounter."
Solving real problems for a better planet
Solving real problems for a better planet
Snapshot of all the user's feedback
Company Name:
Investment vehicle:
Eureciclo
Legacy
Founded:
Year of Investment:
2016
2017
Headquarters & Global Locations:
Brazil, Chile and France
Website:
Eureciclo.com.br
Impact Theme:
Planet Prosperity
SDGs:
(8) Decent Work and Economic Growth, (11) Sustainable Cities and Communities, (12) Responsible Consumption and Production.
Founder:
Impact Vision:
A world where waste is transformed into valuable resources through incentives for recycling and reusing, hence reducing pollution and environmental harm caused by careless disposal.
Why we invested
Human activity results in the annual production of 400 million tons of plastic waste, the overwhelming majority of which (98%) comes from fossil fuel resources. Unfortunately, 85% of plastic worldwide is disposed improperly, ending up in landfills or other unsuitable locations.
Moreover, the global recycling ratio for plastic waste is an abysmal 10%, which amounts to a staggering annualy loss of plastic packaging waste ranging from U$80B to 120 billion dollars. As a result, nations across the world have enacted new regulations to increase recycling rates. For example, the European Union recently implemented a law that requires countries to recycle at least 55% of municipal waste by 2025, 60% by 2030 and 65% by 2035. In addition, a new mandatory law obligates the separation of bio waste and calls for stricter regulations to make producers purchase recyclable keys.
In Brazil, regulatory law PNRS requires companies to recycle 22% of their packaging waste and increase that percentage to 45% by 2031. To address this issue, Eureciclo, the largest validator of corporate packaging processes in Latin America, has developed a block chain-based technology that provides transparency and reliability to track recycling and offsets post-consumption waste through their marketplace for recycling credits exchange. This solution has the added benefit of creating new jobs and ensuring proper payment for the service recyclers provide to society.
“We have begun to pave the way for encouraging recycling and have taken a significant step that puts us on the path to increasing recycling rates, which could reach up to 800,000 tons by 2023.”
Thiago Carvalho Pinto
Eureciclo's co founder & chief executive
“I learned to face challenges and believe that things will work out if we do our best. I joined when they were not even the selo eureciclo and the impact on cooperatives was only crawling. Since then, a lot of code has been written, a lot of product definition and the amazing people who came along the way to help. The best part is knowing their talent is being used to improve the situation of the most vulnerable people and the environment, which they help to protect.”
Beneficiary
Impact Perfomances KPI's
Impact data: Dec/2022
7k
Clients
R$40,9M
Total Rebound
R$8,1M
Rebound for recyclers
660k
Compensated Tons
23
States in Brazil
Positive Notes
The recycling credit market in Brazil underwent significant changes due to new legislation. As previously mentioned, the PNRS law, implemented in 2010, served as the foundation for subsequent decrees and regulations. This law has a federal scope and outlines the requirements (e.g. recycle 22% of packaging by 2020 and 45% by 2031). However, it does not provide guidance on how to meet these targets.
That is where the Recicla+ comes in. The new federal decree brings one of the possible ways of complying with the PNRS law via the purchase of recycling credits – which is exactly the service, Eureciclo provides in Brazil. This is a significant milestone for the recycling credit industry because it brings much-needed regulation and oversight to an emerging industry. Without this framework, there would be little incentive for companies to comply with the PNRS law.
The reverse logistics companies, like Eureciclo, had to create a managing entity (Instituto Giro), an institute that represents the company to the government. Instituto Giro is responsible for the emission of certificates and develops a report of the companies following the PNRS law.
Eureciclo is also spearheading a new project in partnership with Veolia Brazil to boost reverse logistics in Brazil with a team of specialists to work on developing innovative solutions on several fronts. The project started in the ‘Centros de Gerenciamento de Resíduos’ (CGRs) at Santa Catarina e São Paulo, with an estimated potential of recovering 180k tons per year of recyclable waste.
Company Name:
Investment vehicle:
Favo
Impact Tech I
Founded:
Year of Investment:
2019
2021
Headquarters & Global Locations:
Peru
Website:
Mercadofavo.com
Impact Theme:
Social Resilience
SDGs:
(1) No Poverty, (5) Gender Equality, (8) Decent Work and Economic Growth, (10) Reduced Inequalities
Founders:
Impact Vision:
A society where marginalized communities have access to affordable and convenient goods, supporting local economies and entrepreneurship while promoting economic development.
Why we invested
As one of the many bifurcations due to a high 10% food inflation, hunger in Latin America and the Caribbean has reached its highest levels since the beginning of the 21st century, resulting in 60 million malnourished people and contributing to a 9.96% unemployment rate. Brazilian families spend up to 22% of their budget on groceries. While in Peru, households spend a staggering 53% of their income on food and non-alcoholic beverages. Furthermore, a research conducted by Real-Time Big Data Institute reveals 48% of Brazilians are looking for new revenue streams mainly to afford food & groceries.
Favo has cracked the e-commerce LATAM market through the community-buying model, a U$14B market in China that allows communities to purchase groceries at lower prices. Local entrepreneurs intermediate the delivery of the goods and receive a commission for each purchase – generating an additional source of income for that worker. Additionally, Favo supports local community members in developing their online stores through its SKU Management, resulting in the creation of new revenue streams for over 3,000 people. Favo's platform offers a diverse selection of over 3,000 products, providing customers with a convenient and affordable shopping experience.
"This is Favo's social role, which is at the essence of the startup: empowering communities by creating opportunities in an increasingly scarce work context.”
Alejandro Ponce
Favo’s founder & CEO
“Favo taught me many things, I never thought I would sell anything in my life and, because of the whole team, they taught me how to sell and deliver to people in a very short time. I feel happy and I don't think about leaving, because I feel part of the community.”
Jaenette
English teacher and Favo entrepreneur
Impact Perfomances KPI's
Impact data: Dec/2022
1,6M
Orders
Only in Peru
+ 30k
Entrepreneurs impacted
80%
Women’s entrepreneurs (avg.)
Positive Notes
Favo underwent a significant strategic shift following a market turnaround, temporarily suspending its Brazilian operations and focusing exclusively on Peru. Despite this, their commitment to improving the lives of low-income populatins in Latin America has remained unchanged.
Peru has experienced a high level of unemployment in recent years, reaching a peak of 13.5% in 2020 exacerbated by the COVID-19 pandemic. The medical outbreak resulted in high unemployment in Peru and vulnerable populations, such as informal workers, have withstood the worst of the pandemic's impact. Additionally, the country faces long-standing structural issues that contribute to high levels of unemployment, such as a lack of job opportunities in specific regions and a mismatch between the skills of workers and the demands of the labor market.
In 2022, Favo impacted 14,800 micro-entrepreneurs, a mere 28% have completed higher education, which is why they receive sales and personal finance training and 50% had no source of income other than Favo. Notably, entrepreneurs who choose Favo as a full-time job can earn more than 50% of their household income.
Therefore, Favo’s allows micro-entrepreneurs to significantly enhance their income while providing a life-changing opportunity to become economically independent – highlighting the essential role Favo's solution can play in the lives of underprivileged groups in Peru.
Entrepreneurs:
50% has no other source of income, but as a full-time job they can earn more than 50% of their household income.
Company Name:
Investment vehicle:
Labi Exames
Impact Tech I
Founded:
Year of Investment:
2017
2019
Headquarters & Global Locations:
Brazil
Website:
Impact Theme:
Social Resilience
SDGs:
(3) Good Health and Well-Being
(10) Reduced Inequalities
Founders:
Marcelo Barboza, Octavio Fernandes, Daniella Sasson and Carolina D' Alençon
Impact Vision:
A country where everyone will have easy access to affordable quality exams, increasing the chance of intercepting or curing serious diseases with adequate preventive care.
Why we invested
According to the Lancet Commission, the most outstanding issue in most health systems across pathologies and nations is the detection of conditions. Shockingly, 50% of the world’s population lacks access to diagnostic testing and in low-income countries, the number is even higher, reaching a starling 20%.
There are 160 million Brazilians without health insurance, many of whom depend entirely on the government-run public health system, which provides universal health coverage but lacks efficiency and agility of care. This often triggers significant health complications that could be avoided or mitigated with preventive exams and guidance for proper treatment at the right time. Consequences can be inconceivable, such as the 18 million diagnosed diabetics in Brazil.
Labi Exames, a clinical analysis-testing laboratory, offers affordable prices that are 40% lower than average, making quality diagnostics accessible to more people, particularly those who are vulnerable. By creating an intelligent approach to healthcare exams, Labi Exames aims to shift the focus from disease treatment to preventive care, improving the overall health of the population.
"We aim to help fight the impact of silent diseases such as diabetes that are undetected because of expensive lab testing."
Marcelo Noll Barboza
Labi's founder & CEO
“My father is elderly, he doesn’t have a health plan and doing his annual check-up is expensive, but Labi offers affordable prices.”
Patient
Impact Perfomances KPI's
Impact data: Dec/2022
4M
Exams
90k
Vaccines
836k
Total clients
54%
% price discount compared to the market average
34
Medical Clinics/Centers
86
NPS
22k
Monthly Customers
Positive Notes
Labi Exames seeks to increase access to quality healthcare for the Brazilian population. The company partnered with Rede Drogasil, one of the largest pharmacy chains in Brazil & co-investor of Labi. As a result, they established health clinics next to Drogasil pharmacies, offering integrated consultations, vaccines and laboratory tests at popular prices. The clinics focus on low-complexity care through a healthcare team of on-site nurses and remote doctors, with consultations priced at R$69.
The first two clinics served communities in remote areas from the urban center, such as the Grajaú and Brasilândia neighborhoods in São Paulo. The goal is to bring high- quality health care and use technology to offer an affordable price to a vulnerable population. It is worth noting that although Brazil's public health system (SUS) is free and universal, there is a shortage of access to exams and consultations at the proper time, decreasing the chances of preventive diagnosis and treatment.
Besides adding an imaging exam to expand the corporation's product portfolio, they are boosting the offering of low-cost healthy products, Labi Exames' commitment to providing quality service at a fair price was acknowledged as the third-best laboratory by "Reclame Aqui." This validation further supports the company's mission to improve access to quality healthcare for all.