Tender Announcements

May 29, 2013
Verde Ventures Fund: Call for Applications

CI’s Verde Ventures Fund invests directly in SMEs by providing debt and equity financing to businesses that benefit healthy ecosystems and human well-being, such as businesses in the sectors of alternative energy, agroforestry, ecotourism, sustainable harvest of wild products and marine and fisheries initiatives. VV’s investments enable such business partners to advance the important role of small business in conservation and responsible development. They employ local people in jobs that give them and their communities a personal and economic stake in safeguarding their local natural resources.

VV is working with COMPACT under the WH-LEEP initiative to support technical assistance and follow-up activities of companies financed by VV in order to establish a loan financing and enterprise development facility that provides affordable loans and enterprise development support to community based sustainable businesses around World Heritage sites.

CI’s Verde Ventures Fund, with the support Community Management of Protected Areas Conservation (COMPACT) delivered by the UNDP-implemented GEF Small Grants Programme (SGP) from is calling for qualified consultants based on the following requirements:

Search for Implementation Agent

Conservation International Foundation (CI) in collaboration with KfW Entwicklungsbank (KfW), and other parties (the Sponsors), have cooperated in the design of an initiative known as the second Verde Ventures fund (VV2). VV2 is a triple bottom line investment fund that will scale investments to small and medium enterprises (SMEs) which are engaged in sectors that promote biodiversity conservation and build healthy societies. The initial focus of VV2 will be Mexico, Peru and Colombia.

The Sponsors have agreed in principle to establish VV2 and are seeking an implementation agent that will assist them in the implementation and establishment of the fund structure. For the implementation phase of the new proposed fund, CI is seeking to identify and appoint an implementation partner experienced in the establishment of high impact structured Luxembourg funds (SICAV-SIF). The appointed implementation agent is expected to assist in finalization of documentation necessary to establish the Fund and the appointment of se​rvice providers (fund administrator, auditor and legal counsel) that will support the Fund once it is established.

The implementation agent will provide demonstrable and extensive experience in developing investment funds investing in development finance areas (microfinance, renewable energy and energy efficiency, agriculture value chain, social entrepreneurship).

The implementation agent should specifically be familiar with the European Fund for South East Europe (EFSE), and have implemented funds with the following structure:

• - Investment funds registered in Luxembourg as a SICAV-SIF
  
  
• - Public-private partnership open to investments from institutional investors, professional investors and other well informed investors with a particular focus on investors such as donor agencies, governments, international financial institutions, and professional private investors.
  
  
• - Issuing shares and notes at regular intervals and closings in line with the funds’ growth and investment opportunities
  
  
• - Shares with different risk/return levels and maturities:
  
  
  • C/Junior Shares acting as risk cushion for the other investors as first loss taker and invested mainly by donor agencies,
  • B/Mezzanine Shares taking the second loss risk and invested by DFIs and
  • A/Senior Shares invested by DFIs and commercial investors.
  
  
• - Returns shared between the shareholders through a waterfall mechanism called Income Waterfall.

June 8, 2012

Search for Business Partner / Fund Manager

Conservation International (CI) is seeking preliminary proposals from Fund Managers to participate as a Business Partner for the formation and management of a commercial fund that will invest its committed capital in sustainable, biodiversity conservation investments in Latin America and Sub Saharan Africa ('the Fund').

It is essential that the Business Partner be capable of contributing to the ongoing establishment process for the proposed new facility.

Established in 2002, the Verde Ventures Fund 1 (VV1) is the leading enterprise investment fund for biodiversity conservation and sustainable green economies at Conservation International Foundation (CI. CI is seeking to identify and select a Business Partner / Fund Manager for a new and scaled up $100 million Verde Ventures Fund 2 (VV2), independent of CI. CI wishes to identify a Business Partner / Fund Manager with relevant target market and impact investing experience. The successful Fund Manager will be in a unique position to benefit from VV’s 9 year market expertise as well as market segment and sector information in ecosystems related investment as a result of the strong partners and considerable directed research and development.

Important considerations include the requirement to invest in the fund; ability to demonstrate an extensive track record with impact investment in Small and Medium Sized Enterprises (SME’s); and, ideally, conservation related investing in developing countries in collaboration with conservation and development partners. VV2 will seek triple bottom line results – the environment (focusing on biodiversity and healthy sustainable economic development), social impacts and economic returns.

The selected Fund Manager will have access to important studies and research from Phase 1 as well as interacting with the consultant selected for the substantial fund preparatory work outlined in Phases 2 and 3. The goal is identify an appropriate Business Partner / Fund Manager capable of building this component of the impact market.

Submission Deadline: July 23, 2012

Interested firms should contact the undersigned for the detailed Request for Proposals:

Bradford Castro
bcastro@conservation.org
Verde Ventures
Conservation International

_________________________________________________________________________________

March 19, 2012

Pre-qualification of Fund Manager

Established in 2002, the Verde Ventures Fund 1 (VV1), the leading enterprise investment fund for biodiversity conservation and sustainable green economies at Conservation International Foundation (CI), with the support of KfW, AFD and the Gordon and Betty Moore Foundation, is seeking to identify and pre-qualify potential Fund Managers for a new and scaled up $50 million Verde Ventures Fund 2 (VV2), independent of CI. The VV1 team wishes to join with an established fund manager with relevant target market and impact investing experience. The successful Fund Manager will be in a unique position to benefit from market segment and sector information in ecosystems related investment as a result of the strong partners and considerable directed research and development.

Important considerations include the requirement to invest in the fund; ability to demonstrate an extensive track record with impact investment in Small and Medium Sized Enterprises (SME’s); and conservation related investing in developing countries in collaboration with conservation and development partners. VV2 will seek triple bottom line results – the environment (focusing on biodiversity and healthy sustainable economic development), social impacts and economic returns.

The pre-qualified Fund Managers will have access to important studies and research from Phase 1 as well as interacting with the consultant selected for the substantial fund preparatory work outlined in Phases 2 and 3.    The goal is to enter the implementation phases with consensus among the Steering Committee and selected Fund Manager about the critical aspects of the proposed fund.
 

Submission Deadline: May 18, 2012
Interested firms should contact the undersigned for the detailed Terms of Reference and associated timeline.
Lorena Garcia-Bustos
Email: lbustos@conservation.org
Verde Ventures
Conservation International

_________________________________________________________________________________

October 5, 2011

Pre-selection of Consultants and/or Fund Manager - Tender Closed

Design Phase: Detailed Business Plan, Four Country Demand Assessment and Legal Review

The Verde Ventures Fund (VV), an enterprise investment fund for biodiversity conservation and sustainable green economies at Conservation International Foundation (CI) is seeking to retain a consulting firm and/or fund manager for the design phase of a new fund. Responsibilities include the preparation of  a detailed business plan, a four country business demand assessment, and the legal review of a separate Verde Ventures Fund, independent of CI. The successful consulting firm will include experts on fund management and development, emerging markets, law, impact investing, sustainable SME finance and development.

CI’s Verde Ventures Fund (VVF), is seeking consultants and/or fund manager to build on a recently completed feasibility assessment, and to work with VVF to develop a viable business plan, a detailed four country demand assessment and a review of legal options related to domicile and governance (referred to as the “Design Phase”) in order to establish the Verde Ventures Fund into a fund separate and independent from Conservation International Foundation (referred to as “the Fund”). The facility is envisioned to have a technical assistance (TA) facility alongside.

The proposed new mission of the Fund is:

Verde Ventures responsibly provides access to finance to sustainable businesses that contribute to healthy ecosystems in developing countries around the world.

Investment Rationale
• Natural Capital markets are growing and evolving
• Market development will require investments in sectors / enterprises capable of realizing the financial value of natural capital / healthy ecosystems in a sustainable manner.
• Such investment opportunities exist, and have difficulty accessing capital
• Such investments may require technical assistance be provided directly to the SME, green economy funds and / or financial intermediaries.
• VVF will be a pioneer fund, helping to develop and build this market, providing an efficient mechanism for the aggregation and investment of capital.

VVF Process: Phases of the establishment process

The proposed phases are:

Phase 1: Feasibility Assessment (completed)

Phase 2: Implementation Road Map, Detailed Business Plan, Four Country Demand Assessment; Assessment of Potential Investors; Technical Assistance

Phase 3: Legal Assessment and Options Review

Phase 4: Finalize Business Plan (including model(s) simulation tool) and Set-up of Legal Entity

The successful consultant is expected to bid for phases 2 – 4 (the Design Phase), given that phase 1 is complete. The consultant will work in collaboration with the VV management and the Steering Committee (SC) to agree a timeline of deliverables for each of these phases. Should the SC decide against implementing the concept, and hence not to set up the fund, the contract will be terminated at the end of phase 2 or 3.

Should phase 2 and 3, in particular the business plan, lead to suitable results, and the SC decides to implement the fund, the consultant may be asked to perform the tasks in phases 3 and 4 as appropriate.

The Opportunity

The consultant(s), working in collaboration with the Steering Committee (SC) of the design phase, will prepare a detailed business plan, four country demand assessment (Colombia, Peru, Mexico and Kenya) and legal review for an independent and significantly scaled- up Verde Ventures Fund and present it to CI for their review and approval.

It is expected that the successful consulting firm will include experts on fund development, emerging markets, law, impact investing, sustainable SME finance and development.

The successful team will be required to present the reports to the Steering Committee in order to consider the viability and legal implications of an independent and significantly scaled- up Verde Ventures Fund.

VV2 Preselection - Tender Process Questions and Answers (PDF - 92 KB) 

Contracting for this tender is contingent upon financing and subject to approval by the Steering Committee.

Interested parties are invited to contact the undersigned for the pre-selection Terms of Reference.

Submissions are Due December 5, 2011

Verde Ventures Fund
Conservation International
Att : Lorena Garcia-Bustos
2011 Crystal Drive
Suite 500
Arlington, VA 22202
Email: lbustos@conservation.org​​​​