Total Impact Capital

About the fund

Azure Source Capital (often called ASC) is an impact-oriented blended finance vehicle focused on expanding and improving water and sanitation services in underserved communities in Latin America, especially in El Salvador, Honduras, and Guatemala. Rather than being a traditional equity VC, it functions as a debt-financing platform that mobilizes private capital and partners it with technical assistance to support local water service providers and infrastructure improvements. As the fund manager, Total Impact Capital leads loan disbursements, underwriting, relationships between the WSPs and local financial intermediaries (banks and credit cooperatives), cash management, fundraising, and investor relations, among other duties. Alongside its leading partners, the Inter-American Development Bank’s BID Lab and Catholic Relief Services, Total structured ASC's innovative financial structure, which empowers WSPs to upgrade and expand vital water and sanitation infrastructure and improve the lives of those residing in rural and peri-urban communities. Total Impact Capital's financial oversight (both from its HQ in Bethesda, MD, and in its regional representation in both El Salvador and Honduras) ensures that these funds are used effectively, driving measurable impact in communities with limited access to reliable water services. Since launching in 2019, Azure has raised $12.2 million from investors including Catholic Relief Services, IDB Lab, the DFC and Calvert Impact Capital; it has loaned $8 million to 23 water providers in El Salvador and Honduras.

Limited Partners

View all 12 partners

• Ceniarth
• Osprey Foundation
• Catholic Relief Services (CRS)
• Vitol Foundation
• Calvert Impact
• IDB Lab
• DF Impact Capital
• The Felician Sisters of North America
• Stone Family Foundation
• US International Development Finance Corporation (DFC)
• Blue Sky Social Justice Fund
• Mercy Investment Services