Olivier de guerre

Venture Philanthropy and Impact Investing

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TBLI

November 16th 2010

Olivier de Guerre

CEO PhiTrust Partenaires

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Table of content

What is a social investor?

What is a social entrepreneur?

What is a social entreprise?

The stages of social investing

PhiTrust Partenaires’ portfolio

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What is a social investor?

An investor who finances and accompanies social economy projects

with a measurable social and/or environmental impact

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Regular companies

Companies with a social goal that are financially viable

Dividends distributed

Companies with a social goal that are financially viable

No dividends

Not – for profit organizations

Seeking financial return

Seeking social return

Investment spectrum

Associations, foundations…

Cooperatives… Public limited companies…

Phitrust Partenaires’ target

Phitrust Foudation target

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What is a social entrepreneur?

A social entrepreneur

Bagore BathilyFounder and CEO of « La Laiterie du Berger »

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A non-listed company

With a Business Model - Financially sustainable,- In the medium or long term

With Measurable objectives:- Social- Environmental

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An hybrid business model

Its main activity - is Profitable- and Financially sustainable

Support, training …- Is not Profitable- must be financed by Grants/ probono,

The stages of social investing

Project selection: audit, review by an Investment Committee made up of experienced professionals and entrepreneurs

Financing decision taken by the Investment Committee

Strategic and tecnical accompaniment by an Investment Committee expert

The company regularly reports on its activity, along with its financial, social and/or environmental impact

An exit strategy is considered

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Portfolio overview

Company Aim Social impact Coverage

Production and distribution of fairetrade products 46 local coops Global

Green search engine financing not for profit organizations

101 K€ raised for not for profit organizations France

Job access for the handicaped through progressive integration

+ 320 blind people employed Global

Job access for the psychologically handicaped through reconditioning of IT equipment

46 handicapped workers France

Green business centres for not for profit organizations

44 hosted not for profit organizations Europe

The only SME investor today in French speaking Africa

14 M€ invested Africa

Dairy product production in Senegal 800 supported cattle herders Senegal

Social reintegration through employment + 247 integrating jobs France

Production and distribution ofsafe and affordable drinking water

15 millions packets sold Cameroun

Energy efficiency in houses and buildings + 2 000 buildings equipped France

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Portfolio overview

Company Invested (K€) Additional needs (K€) Potential impact

528 1 000 – 2 000Double the amount of producers and enlarge the

company’s African presence

200 1 000Enlarge the reach to multiply donations by five

Recrute 2 000 additional organizations Open the service in Italy, Spain, …

253 500 Development of franchises abroad

266 500 – 1 000Satellite development in Lille, Lyon, Toulouse and

Marseille (300 jobs over 3 years)

530 500 – 1 000 Buisness centre development in France and Europe

500 1 000 – 4 000Investment needs identified in 10 additional African

countries

161 300 – 500 Development of a sales channel

500 1 000Satellite development in additional regions (extension plan

in three additional rgions)

76 100 - 200 Production capacity increase

250 1 000 – 2 000 Accompany development

3 264 6 900 – 13 200

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Ecodair

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Company profile Social and financial impact

• Social re-integration through employment

• Job access for the psychologically handicapped through reconditioning of IT equipment

• Entrepreneur: Hervé Baulme

2008 2009

12 employees 12 employees

38 handicapped workers

46 handicapped workers

Sales: 354 K€ Sales: 445 K€

Net Income: 15 K€

Net Income: - 9 K€

2010 objectives

Stabilize the model in Ile de France (Paris region)

Possible exit strategy

Sale to an IT or job access player

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La Varappe

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• Social reintegration through employment

• Assignments or subcontracting for major industrial players

• Multisectoral activity

• Entrepreneur: Laurent Laik

2007 2009

+ 109 integrating jobs

+ 247 integrating jobs

Sales: 4,7 M€ Sales: 6,2 M€

Net Income: 71 K€

Net Income: 38 K€

2010 objectives

Consolidate and develop capacity in new sectors


Sale to an industry player

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Dialogue Social Entreprise

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• Developing social consciousness regarding handicap

• Exhibitions and workshops for companies

• Job access for the handicapped through progressive integration

• Entrepreneur: Andreas Heinecke

2009

+ 320 blind persons employed

Sales: 1 106 K€

Net Income:-93 K€

2010 objectives

Rationalize and harmonize practices Franchise development abroad


Founding group buyback

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Laiterie du BergerCo-investment with Danone and I&P

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• First industrial dairy factory in Fula country (Senegal)

• Milk collection from 800 semi-nomatic Fula cattle herders

• Nutritional dairy products with strong market penetration

• Entrepreneur: Bagore Bathily

2008 2009

600 herders 800 herders

Sales: 614 K€ Sales: 891 K€



2010 objectives

Offering update with the launch of a new dairy product line: Dolima (launched in August 2009 – very positive reception)

Possible exit strategyFounding shareholder buy-back or sale to a leading industrial player

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Investisseur & Partenaire

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• Micro-Finance and Venture Capital• Finance and accompany quality

entrepreneurs in Africa• Equity financing in SMEs and MFIs• Fund size: 19 M€

• Entrepreneur: Patrice Hoppenot

2008 2009

13 M€ invested 14 M€ invested

Sales: 747 K€ Sales: 1 213 K€

Net Income:- 135 K€

Net Income:1 731 K€

2010 objectives

Target of nine investments per year with an average 350 K€ invested per project


Exit from portfolio companies and creation of an FCPR in France

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Ethical Property Europe

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• Business centers for associations• High environmental standard centers

and office space for associations

• Entrepreneur: Jamie Hartzell

EP Europe EP UK

44 hosted organizations

206 hosted organizations

Sales: 884 K€ Sales: 3 498 K€

Net Income: 524 K€

Net Income: 552 K€

2010 objectives

Continue the European expansion after a positive first year in Belgium

Possible exit strategyCompany listing on a social stock exchange

This documentation is provided for personal use only and is strictly confidential; it shall not be disclosed, published or reproduced, either in part or in full, by its recipient(s). The content of this document is provided for indicative and discussion purposes only. In no case does it constitute an offer for sale or subscription nor shall it be the only basis upon which an investment decision is made. Only the final documentation issued or signed, pertaining to a subscription, shall be authentic among the parties.

Although the information contained in the documentation herein is obtained from sources deemed reliable by Phitrust Partenaires, the latter does not provide any express or implicit guarantee thereof, and shall not be liable for the exhaustiveness, reliability or accuracy of information contained herein.

The onus is on each interested investor to first carry out his own analysis by also consulting, if necessary, his legal advisors in order to assess the suitability, with regard to his personal situation, of investing in SAS Phitrust Partenaires - (hereinafter referred to as "the Fund"). The attention of investors is drawn to the fact that the tax treatment which shall be applied to investment in the Fund depends on one’s personal situation and this is subject to change. One is therefore recommended to consult a tax advisor: Investment in the Fund shall also be conditional upon the prior reading and understanding of the Rules and Regulations and Articles of Association of the SAS as well as the Prospectus, which provide a detailed description of the rights and obligations of each investor and which are available upon simple request to the Head Office of Phitrust Partenaires.Investment, if any, in the Fund has in no case been advised by any French regulatory authority. Moreover, these authorities have neither checked nor confirmed the information contained in this information document.

The attention of potential investors is particularly drawn to the risks inherent to this investment which are specified in the Prospectus which you are strongly advised to refer to.

Past returns on similar investments provide no indication as to those that shall be generated from future investments that the Fund shall undertake, since past performance does not guarantee future performance.Certain legal, tax or regulatory changes which may occur during the Fund's life time, may, if applicable, have a negative impact on the return on this investment. The shares of the company with variable capital cannot be freely sold and there is no organised secondary market. The Fund's success will depend on the expertise and commitment of Phitrust Partenaires' investment team, and in particular on its capacity to identify, select and acquire appropriate assets, as well as on changes in market conditions.There is no guarantee that the Fund's objectives in terms of returns will be achieved or not. Therefore, each potential investor must form his own opinion on the risks inherent to this investment opportunity before deciding whether or not to invest in the Fund.

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Disclaimer

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Contact

Florence Goudchaux

Tel.: + 33 1 55 35 07 56

Mob.: + 33 6 15 40 03 74

[email protected]

Olivier de Guerre

CEO

Tel: + 33 1 55 35 07 55

Mob: + 33 6 03 91 61 61

[email protected]

Contact

PhiTrust Partenaires41 rue Boissy d’Anglas - 75008 Paris

+33 1 55 35 07 55 - [email protected]

Olivier de guerre

Economy & Finance

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