Online course organised by Efiko Academy and FASE
Learn how to structure investments and tailor instruments like equity, mezzanine and grant instruments to unlock the potential of impact ventures. Learn based on case studies, practical insights from experts and interactive exercises.
Impact investing is becoming mainstream, but so are the concerns about impact washing. How can investments be structured to preserve and scale positive impact whilst offering a fair compensation to investors? This course introduces innovative yet practical ways to tackle this question leveraging equity, debt and philanthropic investments to reach your goals.
Who is this course for
This training is designed for you if you are in the business of supporting impact organisations with funding (grants, equity, debt) whether as a manager or analyst within a foundation, a private or public impact investment vehicle, a family office or as an advisor to investors. Basic financial understanding is sufficient to start the training.
The course can also be relevant to entrepreneurs who seek to better understand the mindset and tools of impact investors and gain insights into the fundraising journeys of inspiring impact ventures.
What you will learn
- Why impact ventures need impact-centric finance
- How to tailor convertible notes and equity for impact
- How to use mezzanine finance
- How to embed an impact-link in your instrument
- How to structure co-investments and overcome challenges
Efiko Academy offers different pricing plans and scholarships - learn more here
The course is structured around four modules that will introduce the purpose of tailored financing and creative approaches to fund impact ventures
1. The need for innovative financing to support impact ventures
In this Chapter, you will discover how impact ventures' financing needs differ from those of traditional enterprises. You will explore the toolbox investors can use to create tailored financing solutions and the power of smart investor collaborations. Based on practical examples, you will get a clear understanding of the pros and cons of different types of financing instruments and when to apply them best to support your investees’ businesses and impact models.
2. Equity instruments: the beauty and the beast of shareholders
In this Chapter, you will explore how we can design equity capital that truly fits impact ventures' needs in detail. You will analyse the specificities of equity and convertible notes for impact ventures and illustrate how they can be customised with impact links or ratchets. Based on real life examples, you will grasp the scope of possibilities, understand typical terms, characteristics and features and put yourself in the shoes of impact ventures and their unique perspectives on getting impact-aligned shareholders aboard.
3. Mezzanine instruments: beyond fixed payment and passive investors
In this Chapter, you deep dive into the design of innovative mezzanine instruments and open your horizon on how to use these in flexible, tailored and impact-linked ways, for example by adding a revenue share agreement. Cases from the field illuminate how investors can truly empower impact ventures on their scaling paths by providing debt and support that fit like a glove.
4. Hybrid financial solutions and the power of unusual collaborations
In this Chapter, we implement the learnings from the previous chapters and explore how we can craft some of the most complex deal structures involving multiple and diverse stakeholders. We discover how to align impact investors with different risk-return profiles, or investors and philanthropic funders. Last but not least, we explain how grants can be used in a catalytic way, to make best use of de-risking and return-enhancing features.
Upcoming live sessions
- Wednesday 19th October
- Wednesday 26th October
- Wednesday 8th November
From 14.00 to 16.00 CET
Dr. Markus Freiburg - Founder and Managing Director of FASE
Dr. Markus Freiburg is recognized as a thought leader for social finance, with an active presence in public discourses e.g. as member of the Expert Group on Social Entrepreneurship (GECES) of the EU Commission. He has a wealth of experience delivering training courses in the field of impact investing in academics as well as through EU’s EaSI technical assistance platform.
Laura Catana - European Investor Relations Manager at FASE
Laura Catana has been active in the field of social entrepreneurship and impact investing for nearly 10 years. At FASE she manages the community of investors, offers exchanges and learning opportunities, hosts events and conducts analyses on the state of the ecosystem. Laura is a member of EBAN's Impact Investment committee and has extensive experience in providing training to impact practitioners.