Current MRI Investments

Mission Related Investments

Swift Foundation has made investments with the following organizations to further its philanthropic mission and goals.

MicroVest Short Duration Fund

Strategy: Microfinance
Background: The MicroVest Short Duration Fund provides short and medium debt financing to low-income finance institutions (LIFIs), including MFIs and small and medium enterprise (SME) banks.  The MicroVest Short Duration Fund launched with $7 million in September, 2010, and is expected to grow to $30 million in twelve months and $100 – $200 million in 4-5 years.
Investment Type: Private Investment Fund
Amount: $1.5 million
Interest Rate: n/a
Status: Active Investment

Guayaki Sustainable Rainforest Products

Strategy: Sustainable, Fair-Trade Products
Background: Guayaki sells a variety of Yerba Mate products. They pay farmers a premium for yerba grown under trees native to the forest opposed to in clear-cut fields. In this way, Guayaki is helping to reverse the destruction of rain forest.
Investment Type: Series C Preferred Stock (no par) & Revolving Line of Credit
Amount: $500,000 in equity & $1.25 million in loans
Interest Rate: 13% per annum on the revolving line of credit with conversion option
Status: Active Investment

WilderHill Clean Energy [Powershares ETF]

Strategy: Clean Energy Investment
Background: The WilderHill Clean Energy ETF provides broad exposure to the clean energy sector. The index is generally comprised of companies in the following areas: renewable energy supplies, energy storage, cleaner fuels, energy conversion, greener utilities, power delivery and conservation
Investment Type: Exchange Traded Fund (ETF)
Amount: $500,000
Interest Rate: n/a
Status: Active Investment

Calvert Foundation

Strategy: Community Investment Notes directed towards female entrepreneurs in Latin America.
Background: Calvert Foundation’s mission is to maximize the flow of capital to disadvantaged communities in order to create a more equitable and sustainable society. As such, Calvert offers Community Investment Notes to facilitate the flow of capital to 250 high-impact community organizations in over 100 countries around the world.
Investment Type: Fixed Income
Amount: $1.275 million
Interest Rate: 1.50% – 2.00% per annum
Status: Active Investment

Rudolf Steiner Foundation (RSF)

Strategy: Social Investment Fund
Background: RSF was founded in 1936 by an act of the New York State Legislature for the purpose of supporting and conducting work aligned with the philosophy of Rudolf Steiner, an Austrian social philosopher. RSF provides mortgage loans, construction loans, and working capital lines of credit to non-profit and for-profit enterprises that are dedicated to improving the well-being of society and the environment.
Investment Type: Consolidated Loan Fund
Amount: $250,000
Interest Rate: ~1%
Status: Active Investment

Canyon Johnson Urban Realty Fund

Strategy: Urban Renewal
Background: CJUF is one of the country’s largest private real estate funds focused on the development of urban properties in underserved neighborhoods.  The fund is a collaborative effort by a top-tier investment firm, Canyon Capital, and a basketball legend, Earvin “Magic” Johnson, to provide economic opportunities within urban communities enhancing the social welfare of residents.
Investment Type: Real Estate Investment Fund
Amount: $1 million commitment
Interest Rate: n/a
Status: Active Investment

Persistent Energy Partners

Strategy: Clean Energy Finance through People + Planet Promissory Notes
Background: Persistent Energy Partners (formerly E+Co., Inc.) provides start-up and growth capital to clean energy entrepreneurs in developing countries. The goal is to ensure promising entrepreneurs have access to capital at a reasonable interest rate so they can create energy businesses that mitigate climate change and reduce poverty.
Investment Type: Loan/Promissory Note
Amount: $385,000
Interest Rate: 3%
Status: Active Investment

Community Capital Management (CCM)

Strategy: Community development through fixed income securities involved in environmental sustainability, energy efficiency and remediation of environmental hazards.
Background: CCM is an independent fixed income manager founded in 1998 by Todd Cohen and Barbara Van Scoy.  The firm invests in bonds that support community development as outlined in the Community Reinvestment Act, primarily in moderate and low income neighborhoods.
Investment Type: Fixed Income Mutual Fund
Amount: $1.5 million
Interest Rate: n/a
Status: Active Investment

MicroEnergy Credits (MEC)

Strategy: Financing Clean Energy Initiatives
Background: MicroEnergy Credits provides capital to MFI’s for microloans to poor people looking to adopt clean energy alternatives. MicroEnergy Credits has developed a unique capability to capture and sell the carbon emission reductions derived from clean energy microloans. With every household that adopts clean energy, MEC and the microfinance institution earn carbon offset revenues.
Type: Convertible Promissory Note
Amount: $100,000
Interest Rate: 8%
Status: Active Investment

Root Capital

Strategy: Financing Sustainable Agriculture
Background: The mission of Root Capital is to stimulate economic development for the rural poor while encouraging biodiversity conservation. By targeting small and medium businesses for loans, Root seeks to stimulate this neglected area of the economy through grassroots sustainable business practices.
Investment Type: Program Related Investment
Amount: $800,000
Interest Rate: 2.5%
Status: Active Investment

Rudolf Steiner Foundation (RSF)

Strategy: Food & Agriculture Fund PRI Fund
Background: The RSF Food & Agriculture Fund will be used to provide loans of $50,000 or more to non-profit and for-profit social enterprises addressing key issues in food production, food access, value-added processing, distribution, retail, and waste management.
Investment Type: Consolidated Loan Fund
Amount: $400,000
Interest Rate: 1%
Status: Active Investment

Impax New Energy Investors II

Strategy: Renewable Energy Infrastructure
Background: Impax is a London-based asset management firm founded in 1994 that invests in the development of renewable energy and related technologies.  The New Energy Investors II Limited Partnership makes investments in renewable power generation projects and companies in Europe.  The LP will specifically target companies focused on power generation through wind, solar (photovoltaic & thermal), and hydropower.
Investment Type:
Private Equity Limited Partnership
Amount:
€1.0 million commitment
Interest Rate:
n/a
Status:
Calling Capital

CoEfficient

Strategy:  Clean Energy Consulting & Incubating Alternative Energy Businesses
Background
:  CoEfficient is a start-up founded by Murat Armbruster, a Senior Advisor to Richard Branson’s Carbon War Room.  CoEfficient is focused on building companies that allow cleaner more efficient energy alternatives.  CoEfficient’s lead affiliate is TelEfficient, a company that works with large telecommunications companies to finance the replacement of antiquated, analog switching technology with modern, digital switches that operate at a small fraction of their predecessor’s energy load.
Investment Type:   Convertible Subordinated Promissory Note
Amount
:  $50,000
Interest Rate:  5% per annum
Status
:  Active Investment

Yansa CIC

Strategy:  Renewable Energy
Background:
  Yansa is a Community Interest Company founded by Sergio Oceransky.  The Swift Foundation loaned money to Yansa to further the company’s renewable energy initiative in Ciudad Ixtepec, Mexico, and to promote the participation of indigenous communities in the Green Economy.
Investment Type
:  Program Related Investment
Amount
:  $40,000, with option to match an additional $40,000
Interest Rate
:  2.0% per annum
Status
:  Active Investment

Southwest Native Green Loan Fund (SWNGLF)

Strategy: Provide socially-motivated capital for projects that advance the environmental sustainability, public health, and/or social, economic or physical infrastructure of American Indian tribes in the Southwestern United States.
Background: SWNGLF is managed by Native Home Capital, a community development financial institution located in Arizona.  The Fund aims to provide capital to American Indian tribal groups who will use the funds for infrastructure projects with a clean or renewable energy aspect.
Investment Type:  Below market-rate loan
Amount:  $350,000 commitment
Interest Rate:  2% per annum
Status:  SWNGLF has not called any of Swift Foundation’s committed capital.  The Fund has until June, 2017, to call capital.

Cash Deposits

Latino Community Credit Union: $240,000
New Resource Bank: $240,000
Community Bank of the Bay: $240,000
OneCalifornia Bank: $240,000

GreenChoice Bank: $240,000

Guarantor Programs

In addition to making mission related investments, the Swift Foundation has pledged its foundation assets as a guarantor, currently serving as a $1 million guarantor to MicroCredit Enterprises, which guarantees loans to Microfinance Institutions in 13 countries.

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