Event Briefs - SocialAlpha-Bastion gets PYMWYMIC approval
SocialAlpha-Bastion has received the seal of approval of the Dutch impact investor network PYMWYMIC. As a result, AlphaMundi was given the opportunity to pitch the fund to the organisation's membership during the Impact Days held on 20-22 April in Amerongen in the Netherlands. Following pitching sessions from more than a dozen social businesses and impact funds, conference participants voted SocialAlpha-Bastion the "Best Financial Model for Impact" and "Best Impact Investing Model Overall".
On 16-17 April, AlphaMundi's founder Tim Radjy also attended a gathering of the 100% Impact Network in New York. The Network was created by Charly Kleissner, with support from TONIIC. It enables asset owners who want to align their investments with their values to share impact investing portfolio insights and best practices with a network of trusted peers. The Network has close to 100 members who have so far invested about USD 900M for impact of their USD 3B in total financial assets.
On 28-29 April, AlphaMundi attended the annual conference of the African Venture Capital and Private Equity Association (AVCA), and contributed to the panel on Direct Investments. Conference highlights included: USD 8.1B of PE transactions in 2014, with 40 exits led by South Africa (42%) and occurring on average 4.9 years after the investment. 56% of buyers were corporates, and 23% other PE firms. 75% of the 250 exits documented over the last 8y were minority stake sales. East Africa attracted 18% of PE investments in Africa, generated 14% of the exits, and had a median transaction value of USD 5M vs Africa's USD 14M. African opportunities include the gap in mezzanine funding; the doubling of intra-African trade in the last 10y and again in the next 5y; energy blackouts costing 4% of GDP, and Africa only generates as much power as Spain; increasing market and citizenry sensitivity to poor governance; and agriculture, Africa's largest employer, and in dire need of professionalisation and mechanisation. The AVCA LP survey revealed 52% of LPs expect to earn x2.5 their investment within 5y, but cited political risk, talent availability, and exit prospects as the main hurdles.