The IIX team has recently facilitated investment for three social enterprises that are promoting inclusive growth across Asia.
Sun-eee addresses both the social problem of low penetration of electricity in rural areas and the environmental problem of heavy reliance on diesel fuel. Sun-eee aims to acquire a number of existing independent power producers (IPP) in this highly fragmented and under-served market of rural Cambodia as a means to expand its reach at lower costs. Sun-eee will generate clean and affordable power in these licensed areas by converting the existing diesel generators into a combination of biomass and solar technology while also extending the transmission networks to reach new households. Sun-eee has closed on $450K of funding in the form of convertible notes, enabling the organization to purchase its first IPP and commence commercial operations. We’re excited to see how Sun-eee’s efforts will change the lives of thousands of rural Cambodians.
Kinara is a young, social finance business that fills in the gap between microfinance and commercial capital through an innovative supply-chain financing model. Kinara provides between US$2,000 to US$20,000 loans to micro and small enterprises in India that have a turnover of less than US$400,000. There are 26 million of such small enterprises in India, and less than 5% of them have access to commercial capital. By leveraging India’s relationship-based culture, Kinara integrates into existing supply chains to reduce customer acquisition costs. Addressing a major working capital need that is not being served by existing Indian financial institutions, Kinara helps the critical “middle” to expand their business and improve their livelihoods. Through Impact Partners, IIX showcased Kinara to investors on its platform. A consortium of 15 investors joined its lead investor to close the deal.
Spring Health distributes safe and affordable water to villagers in Eastern India. To date, Spring Health has provided over 38,000 people in 95 villages with access to safe drinking water by building water tanks at kiranas (mom-and-pop shops) of rural entrepreneurs. Sourced locally, the water is treated with chlorine and sold at very low prices. IIX facilitated $85K investment into Spring Health, which will allow the company to pursue its goal of impacting over 800,000 households over the next two years and over 8 million people within the next 5 years.