GAWA Capital awarded by the UN's Global Compact go! ODS initiative, for its role in eradicating poverty.

posted Oct 19, 2018, 11:31 AM by info rmation   [ updated Oct 19, 2018, 11:35 AM ]

Madrid – October 2018. The Spanish Network for the Global Compact - the most important private sector initiative for sustainability, fostered by the United Nations - and the “Rafael del Pino Foundation” have awarded 17 business and social initiatives (already up-and-running, with proven results) for their innovative contribution to the UN's Sustainable Development Goals (SDGs) - one award for each Goal.
Amongst the winners stand out programs promoting infant nutrition and vaccination; alternative energy generation or projects for the repopulation of rural areas; initiatives related to entrepreneurship and job creation; road safety and circular economies. The initiative against Female Genital Mutilation, "Alternative Rite of Passage", launched by “Amref Salud África”, received a special mention from the jury. GAWA Capital was awarded for its contribution to the SDG #1, eradication of poverty, due to its social impact in developing countries via microfinance-promoted economic growth.
The projects have been proposed by some of the entities driving these awards, with a focus on sustainable innovation (such as Accenture, “Acción contra el hambre”, Ashoka, European Commission, ESADE, Ferrovial, Fundación Repsol, Global Incubator, Iberdrola, IE Business School, Impact Hub, Ineco, IS Global, Obra Social “la Caixa”, Ship2B, Telefónica, etc.). A jury comprised of renowned experts in sustainability and innovation, from the academic, business and public sectors (international organisations) was established to select the winners.
The award ceremony was chaired by Cristina Gallach, High Commissioner for the 2030 Agenda of the Government of Spain.

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Magallanes and GAWA Capital deliberate about Social Profitability at Capital Radio.

posted Oct 19, 2018, 11:25 AM by info rmation   [ updated Oct 19, 2018, 11:32 AM ]

Madrid – October 2018. The manager Magallanes Value Investors has explained in Capital Radio the features of its new fund “Magallanes Impacto”, a unique product in Spain, which combines social and economic profitability, advised by GAWA Capital.
It invests in social entities that grant microcredits to vulnerable populations in developing countries. This methodology allows them to promote financial inclusion through a productive activity that improves living conditions. The fund’s performance is uncorrelated with the economic cycle and with the rest of assets.
Agustín Vitórica, co-founder and co-CEO of GAWA Capital, explains that this product is designed to help poor people. He assures that the social impact is measurable and that it is quarterly reviewed and audited so that the investor is aware of the social impact achieved. In Spain, impact investment is still a small market, but it is increasingly gaining demand from institutional investors.

Click here to listen to the full interview.

Magallanes and Gawa Capital launch a microcredit fund in developing countries

posted Oct 1, 2018, 9:59 AM by info rmation   [ updated Oct 1, 2018, 10:04 AM ]

Madrid – October 2018. Magallanes Value Investors, the fund manager co-founded by Iván Martín and Blanca Hernández, and Gawa Capital, an impact investment advisory firm co-founded by Agustín Vitórica and Luca Torre, have joined forces to promote economic development through a social impact hedge fund, which seeks to break the spiral of poverty suffered by the financially excluded population in developing countries. 
The product, called “Magallanes Impacto”, is an open-ended investment fund - with an initial minimum investment of EUR 100,000 and quarterly liquidity - in unlisted debt from social microfinance institutions (MFIs) that provide micro-loans to disadvantaged people in poor or developing countries. The investments (initial target of 6 to 10 assets) will, at first, be focused in Latin America (Mexico, Nicaragua, Chile, Peru or Ecuador) and Asia (India or Sri Lanka, among other countries), areas where Gawa has already identified projects. In Africa it is more complicated to find MFIs that meet all GAWA’s Due Diligence requirements, but the region is not ruled out in the future.
The fund is constituted with a double purpose of profitability and social impact. Profitability is expected to reach 1% to 4%, to offer an alternative to liquidity in an environment of negative rates. Its social nature is manifested in the resignation of the management fee (1.5% -1.75% per investment range) by Magalles and Gawa Capital, if the impact score is below the minimum criteria.

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GAWA Capital, pioneer at including the SDGs in the asset allocation of Spanish investors

posted Sep 28, 2018, 5:01 AM by info rmation

Madrid – September 2018. Twelve years remain to fulfil the Sustainable Development Goals (SDG) of the United Nations. With its fulfilment we will achieve by 2030 an inclusive world, without extreme poverty, without discrimination, with accessible health and education for all, and respectful with our planet. Nevertheless, this objective is not easy. The World Economic Forum quantifies the investment needed to meet the SDGs at USD 3.9 trillion annually. So far, we are committing USD 1.4 trillion p.a., implying annual USD 2.5 trillion shortage. How can each country contribute to this end?
At this stage, social impact investment may adopt a key role. G8 countries, like the United Kingdom, Germany or France, have managed to build a well-developed impact investment sector, with proven financial returns, and strongly supported by public and private investors. This group has joined to create the “Global Steering Group for Impact Investing” (GSG), target at its promotion.
Spain laid behind until May 2018, when it launched the “Working Group to Promote Impact Investment”, sponsored by Unltd Spain, Eurocapital EAFI and Open Value Foundation. This initiative has been supported by the rest of the Spanish impact investment players. The first plenary session of the Group (July 2018) brought together capital providers managing over EUR 165 billion, ranging from public entities, to family offices, private banks, institutional investors and foundations. This is a first great step on a path that will lead Spain to demonstrate its commitment and take a relevant role in the achievement of an inclusive world by 2030.

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The EU approves the first blending project of Cofides, to be advised by GAWA Capital

posted Aug 22, 2018, 9:40 AM by info rmation

Madrid – August 2018. The European Commission has accredited COFIDES, the Spanish Company of Development Financing, as manager of the first blending project in Spain. The project will materialize in the constitution of an investment fund, called Huruma, which has the aim of improving access to financing and financial offerings for small or excluded farmers in developing countries, mainly in the regions of Latin America, the Caribbean and sub-Saharan Africa.

As a blending initiative, the EU will contribute public EUR 20 million to the fund – EUR 10 million in the form of initial loss and EUR 10 million as technical assistance (consulting and training support) – while Cofides will try to attract additional EUR 70 million from private investors (family offices, pensions funds, private banking).

GAWA Capital will be the fund’s advisor, in charge of selecting the target eligible 25 projects (EUR 2-6 million) that must have a significant impact in the developing country business network, cause greater tax collection and favour a transfer of technology to the beneficiaries of the loans.

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Spain promotes its integration in the GSG global network for impact investment, with GAWA Capital as a partner

posted Aug 22, 2018, 1:38 AM by info rmation   [ updated Aug 22, 2018, 1:46 AM ]

Madrid – July 2018. UnLtd Spain (with the support of Rothschild Foundations), Open Value Foundation and Eurocapital Wealth Management EAFI have created the Secretariat (“Impact Forum”) of the Spanish Working Group with the goal of adhering Spain to the Global Steering Group for Impact Investment (GSG) in 2019. GSG is an international organization that promotes impact investing, already joined by 18 countries, that has made important advances regarding legislation and the revitalization of the private sector. This initiative – encouraged by partners like GAWA Capital, Ship2B and CREAS – will be structured around three working commissions on supply, demand and intermediation. 
Impact Forum (Jose Luis Ruiz de Munain) is trying to attract social impact investors with the aim of increasing impact financing in Spain and consolidating collaboration in the sector. Accordingly, the “Supply Commission” has been integrated by top-tier Spanish entities, representing main categories of impact capital providers, including private banks, insurers, family offices, the public sector, foundations and institutional investors.
In line with this, Impact Forum has held in Cuatrecasas headquarters (Madrid) the workshop “The path of Spain towards the GSG and its Impact Capital Offer: a growing segment”. The event was presented by top sector players, like Big Society Capital (CEO Prior Cliff), the biggest public-private fund of funds in the UK, with £600 million under management, and leader of the global GSC initiative in charge of promoting this financing strategy in other countries.
Other participants (panel discussion) were Magallanes Value Investors (Blanca Hernández), Seed Capital Bizcaia promoted by the Provincial Council of Bizkaia (Oscar Ugarte), the foundation Anesvad (Isabel Goiri) and GAWA Capital Partners (Agustín Vitórica), pioneering impact intermediation investors in the private, public and NGO sectors.
Throughout 2018, the supply, demand and intermediation commissions will meet to work on a set of recommendations that will guide Spain’s candidacy to formally adhere the GSG. The next meeting will be held by the “Demand Commission” in Bilbao in October 2018.

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GAWA Capital participates as an expert in Smallholder Agriculture in GIIN's new Navigating Impact Tool

posted Aug 16, 2018, 3:07 AM by info rmation   [ updated Aug 22, 2018, 10:08 AM ]

New York – August 2018. The Navigating Impact project provides investment themes through which to explore possible impact approaches. Each impact strategy includes an overview of the strategy, an evidence map, a core set of metrics that are shown to indicate progress toward that strategy’s objectives, and curated resources that can help measure and manage toward the strategy. GAWA Capital shared its experience in Smallholder Agriculture along with other top impact entities including Root Capital, One Acre Fund and Alterfin.

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A coalition of global fintech investors, including GAWA Capital, team up to promote responsible digital finance

posted Jun 23, 2018, 3:00 AM by info rmation   [ updated Jun 23, 2018, 3:15 AM ]

The Netherlands – June 2018. A unique alliance of 50 leading organizations – including GAWA Capital among other investment funds, family offices, development banks and debt fund managers – has teamed up to develop the “Guidelines for Investing in Responsible Digital Financial Services”.

These consist of 10 touch points for financial investors and their fintech investees to identify opportunities and mitigate investment risks. The professional guidelines are not binding but allow all signatories to promote a more responsible and inclusive digital finance ecosystem by implementing principles such as the prevention of clients’ over-indebtedness, more transparent pricing, and the creation of financial literacy programs.

The initiative was sponsored by prestigious institutions such as the IFC (part of the World Bank), Goodwell Investments, and the Dutch Ministry of Foreign Affairs. GAWA Capital is part of the 50 signatories which come from Europe, the US, Africa, China and India. The guidelines also benefit from the support of Queen Maxima of the Netherlands, United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development (UNSGSA). 

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GAWA Capital participates in ALIDE’s 48th General Assembly, invited by the Spanish government agency COFIDES

posted Jun 6, 2018, 5:33 AM by info rmation   [ updated Jun 6, 2018, 5:58 AM ]

Peru – May 2018. Luca Torre, co-founder and co-CEO of Gawa Capital, was in Lima (Peru) on May 31st, to participate in a panel at ALIDE’s 48th General Assembly.

ALIDE is the Latin American Association of Development Financing Institutions, which was created in 1968. It aims to emphasize and support the role of development finance institutions for equitable growth in the region, acting as a venue for discussions amongst the most relevant actors in the sector, and the proposal of policies and concrete solutions. 

ALIDE's members include development banks from over 20 LATAM countries, as well as progress-committed associate members from all over the world. These include the China Development Bank, the French Development Agency (AFD), the European Investment Bank (EIB) and Spain’s Official Credit Institute (ICO). The government agency “Spanish Company for Development Financing” (COFIDES) is also an associate member, and invited GAWA Capital to participate in the last General Assembly, whose key topic was “Development banking and its current & future challenges”. Luca Torre, alongside 5 institutional and private actors, participated in a panel discussion about “Blended finance and financial innovation in Latin America”, focusing on the role of development financing institutions and Foreign Direct Investment (FDI).

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GAWA Capital appointed as investment advisor of Magallanes social impact fund, “Magallanes Impacto”

posted May 11, 2018, 8:39 AM by info rmation   [ updated May 11, 2018, 8:43 AM ]

Spain – April 2018. Launched 3 years ago, Magallanes has given impressive returns of 12% in its Iberian portfolio and 10% in its European portfolio. Despite favouring financial yields over portfolio size, outrageous growth is not part of the entity’s objectives. In line with this, Magallanes will soon launch its first social impact fund, called Magallanes Impacto, that will invest in microfinance institutions in developing countries, favouring the financial inclusion of those at the bottom of the pyramid. This fund will be advised by GAWA Capital, a pioneer Spanish social impact firm, with over EUR 53 million assets under management. Magallanes has committed to return investors’ funds if the desired social impact is not achieved.

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