ADAP, an early-stage impact investor, heard pitches and conducted due diligence on eight startups over the course of the SOCAP conference.
Andy Lower announced ADAP closed two deals: Neopenda, which develops low-cost products to boost newborn health, and Good Nature Agro, which provides agricultural services and financing for low-income farmers in Zambia.
Each will receive $75,000 in the form of a convertible note and a year of legal services from Westaway law firm.
The speedy vetting was a demonstration that investors can accelerate the investment process for impact startups, “and increase the flow of capital to nascent social enterprises,” says Dan Luscher, ADAP’s managing director.
To derisk the investments, ADAP’s advisory arm will work with the businesses over the next 18 months.
