Launch of New Call for Applications
As spring emerges in the southern hemisphere, the NESsT Fund is actively looking for additional companies that want to raise debt capital in the $50K - $500K range. The Call for Applications, active as of October 2019, aims to select 5-10 investment companies in the next two months to offer debt funds.
A Product that Solves Key Challenges for Entrepreneurs.
The need for the right amount of capital. Many banks and investors focus on investment sizes above USD $1 million. We prefer, and feel comfortable, lending at the smaller levels to help entrepreneurs grow.
The need for patient, debt capital. Social enterprise need capital that can support plans over the next 3-5 years. Our debt is designed to allow companies to invest the right amounts to grow sustainably while also expanding their social impact significantly. Debt, rather than equity, allows the management team to retain their equity and benefit from the scale created by the new investment.
The need for affordable capital. We want social enterprises to thrive and they need reasonable costs to achieve their goals. We aim to provide debt in the low double digits.
The need for financial management support. Many entrepreneurs are not able to get traditional debt capital because they lack the internal support needed for transparent and accurate financial planning. They are strong at cash and tax management. But, they are not able to pass the review processes of traditional investors. NESsT is ready to offer additional technical assistance to help these entrepreneurs to overcome this barrier.
Expanding the Team
Chad Sachs
NESsT Fund Director
NESsT hired Chad Sachs as its Fund Director in June and has been expanding the team since.
Chad founded and successfully grew his own company and understands the challenges faced by emerging entrepreneurs as they scale their business.
For the last 20 years, Chad has worked in renewable energy, recently growing his last company to become a top five independent asset managers in the solar sector in North America.
He brings to NESsT his experience, primarily with structured finance teams at companies that developed and operated solar power plants, raising over $1.1 B of capital.
“Chad brings a wealth of experience in financial structuring and the debt sector that will complement well the existing strong technical assistance that NESsT has been bringing to social entrepreneurs in the Andean region for the last 20 years.”
Javier Gondo
NESsT Fund, Credit Officer
Joining Chad on the team is Javier Gondo who comes from NESsT’s early-stage investing incubator. Most recently, Javier has been managing the largest social entrepreneurship program in Peru in partnership with a family foundation.
He also brings 11 years of private equity and impact investing experience in the US & LatAm to the NESsT Fund.
Closing Deals
Since its launch, the NESsT Fund has committed to financing two companies – Inka Moss, a moss producer in the highlands and Greenbox, a producer and exporter of organic dried fruits. Both companies have strong management teams and a strong focus on helping to bring communities out of poverty.
Left to Right: Chad Sachs, Javier Gondo, Marco Piñatelli, Inka Moss Founder, Isabel Castillo, Andean Region Director, Christian Perez, Greenbox CEO, and Johannes Da-Fieno, Greenbox Managing Director.
““We have capital and are excited to do more.””