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Dealflow: Kenya’s Sokowatch raises, Danone’s regenerative ag funding, Arctaris’s ski resort, Goldman’s ESG equity portfolio, $30 million for HealthJoy



Greetings! Here’s the latest impact investing deal news.

Sokowatch raises $14 million to expand services for informal retailers. The Kenyan e-commerce company launched in 2016 to help informal kiosk and retail owners streamline ordering and payments for inventory, particularly from consumer goods giants like Unilever and Proctor & Gamble. Sokowatch, which got early backing from Catalyst Fundplans to expand into data analytics and working capital lending. Quona Capital led the company’s $14 million Series A round.

Danone allocates supplier funding to incentivize regenerative agriculture. The French food giant’s North American group, a B Corp, has established two sources of funding to help farmers in its supply chain convert to organic and regenerative practices. A $20 million debt fund will be managed by rePlant Capital, a “soil wealth” impact investing firm. A partnership with National Fish and Wildlife Foundation will help farmers apply for U.S. Department of Agriculture conservation grants. Danone will match up to 30% of the grant funding.

Arctaris acquires Maine ski resort to revitalize rural economy. The Boston-based impact investor purchased Saddleback Mountain Ski Resort in Rangeley for $6.5 million. The resort shut down five years ago, hurting the Rangeley community. Arctaris plans to invest nearly $40 million in the resort and reopen it with 200 full-time staff.

Accion Venture Lab backs Prayaan Capital’s $1.2 million round. Chennai-based Prayaan provides financial services to small businesses otherwise unable to access credit or bank loans. The company has disbursed 80 million rupees ($1.1 million) to businesses in the southern state of Tamil Nadu.

Goldman Sachs launches environmental impact portfolio. The Global Environmental Impact Equity portfolio, developed by Goldman Sachs Asset Management, will screen for five environmental criteria: clean energy, resource efficiency, sustainable consumption and production, circular economy, and water sustainability.

HealthJoy raises $30 million to help employees navigate healthcare benefits. HealthJoy offers services like virtual assistants and price comparison tools to help users compare prices for medical procedures and services among healthcare providers. Its Series C round, which was led by Health Velocity Capitalfollows a $12.5 million funding round last year.

–Feb. 25, 2020

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