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"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

Introductio

Impact overview

Impct 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:

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% 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

Solvingreal problems
Per invsee
Eureciclo
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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

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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.

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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.

Favo

"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.

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Company Name:

Investment vehicle:

Labi Exames

Impact Tech I

Founded:

Year of Investment:

2017