Impact investments: €15.75 million in 2022 for a greener, more inclusive and fulfilling society

Since 2015, we have been developing an ambitious investment policy, in the service of a just and inclusive ecological transition, in line with our social mission. Through our socially responsible investments and our impact investment policy, we support projects that contribute to changing society, but also seek market profitability. This is also one of our messages: responsible and impact investing does not mean a drop in profitability. Indeed, the income from the Foundation’s endowment makes it possible to finance sponsorship actions. 83% of our portfolio is invested in socially responsible investments, 9% of which are already committed to impact investments, i.e. €48 million (target of €75 million by the end of 2023).

The ecological transition at the heart of our concerns

In 2022, the Daniel and Nina Carasso Foundation committed €15.75 million in France and Spain, through investments or reinvestments, in 4 funds with an impact on the ecological transition.

New investments in 2022:

• €10 million: Sycomore Europe Eco Solutions is a listed equity fund that invests in players whose business models contribute to the ecological and energy transition, to the development of a more sustainable and inclusive economy.
• €2.5 million: Suma Capital Climate Impact Fund is a green infrastructure fund that supports climate action and CO2 emissions reduction by strengthening the financing of new energy efficiency and circular economy projects in Spain.
• €2 million: Esfin Gestion is the private equity partner of companies in the Social and Solidarity Economy. In 2022, Esfin Gestion created Bio filières durables, the 1st French private equity fund 100% dedicated to organic farming. This impact fund is at the service of the development and transfer of organic companies.

Reinvestment in 2022:

• €1.25 million: Through its investments, FAMAE Impact aims to support companies that aim to reduce the carbon intensity of economic activity and preserve biodiversity in the service of a just ecological transition.

The FDNC-SFS Fund in line with our Sustainable Food axis

Another component of the Foundation’s impact investment policy is the FDNC-SFS fund created in 2019 with Quadia, dedicated to sustainable food. It operates in France and Spain by financing bold solutions to succeed in the food transition.

In 2021, the Foundation doubled its commitment to this €5 million mandate. In 2022, the FDNC SFS invested €1.83 million for the Foundation, and opened for the first time with an investment of €160,000 from the Anyama Endowment Fund .

The Drive Tout Nu, Miimosa, Smileat, already in the portfolio, have benefited from a reinvestment of up to 760,000 euros in total. Four new companies benefited from a first investment in 2022 to the tune of €1.23 million:

• Nous anti-gaspi that rescues and markets products excluded from traditional distribution channels by selling them in its own grocery stores and, since 2021, has also created its own brand “Us”;
• Baluchon, a Solidarity Company of Social Utility with a catering and catering activity (local, solidarity and anti-waste), which offers the possibility to people who are far from employment to reconnect with sustainable employment;
• Poiscaille , which offers subscriptions to short-circuit baskets of seafood products from gentle and sustainable fishing techniques, caught on the French coast;
• Ideel Garden , which is developing a range of connected fridges to allow companies to offer healthy meals, homemade by their chef, with mainly organic or agroecological products, and zero-waste.

Seed investment: a new lever for action

Through these impact investments, the Foundation supports growing companies, betting on their change of scale and their ability to move the lines. And the adventure does not stop there since we are also betting on seed in the fields of agriculture and food through the launch in France of our Tiina seed fund. Carried out in partnership with MiiMOSA and makesense, this seed program is intended to support and finance between 20 and 30 project leaders to the tune of 1 million euros over 3 years. It responds to all the challenges of the transition and aims at impacts on climate, health and nutrition, biodiversity and regeneration, access to healthy products and fair value chains. ” We want to promote and support the emergence of a generation of entrepreneurs whose ambition is to succeed in the agricultural and food transition. Tiina and the Foundation provide seed funding, which is non-dilutive ,” explains Marie-Stéphane Maradeix, General Delegate of the Foundation. Tiina is also being developed in Spain with Ship2be; In this case, the financial contribution is associated with a bootcamp where the 8 winning companies are incubated. “During the business bootcamp held in Barcelona, the projects showed a great desire to learn and strengthen their project, working on their theory of change, business model or new leadership strategies. These initiatives, which imagine and promote a different vision, typical of the social and solidarity economy, are exciting,” adds Isabelle Le Galo, Deputy Delegate for Spain.