Portfolios

Portfolio

ResilienceVC is a venture firm investing in seed-stage embedded fintech startups that build resilience for users and deliver returns for investors.

For fifteen years, Arborview has provided growth capital to high-quality management teams building a more environmentally sound, resource efficient future.

Search

Categories

No categories

There are two private fund examples of place-based investing that Illustrate challenges generating market rate returns in thematic investing across a limited geography – DBL and SJF

DBL has generated competitive returns over the last decade, with it’s 2018 and 2020 vintage funds at a net IRR of 36% and 42% respectively. [1] However, DBL originally started as the Bay Area Equity Fund, which was an initiative spun out of JP Morgan to invest in the SF Bay Area for impact. It’s first two funds that were attempting this place-based approach were not as successful, with fund II at a net IRR of 4.2%[1] This is despite the bay area being the home of most of the nation’s venture capital and arguably the largest impact investment ecosystem in the country. It was only after they removed the geographic constraint that performance followed.

SJF – Originally launched as the Sustainable Jobs Fund, the initial focus was on investing in businesses that would create quality jobs in the Southeast of the United States. However, as with DBL, SJF found that investing in a subset of businesses and a narrow geography was difficult for providing quality returns. Consequently, they also expanded their geographic focus and thematic focus from businesses that would create jobs locally to businesses that would focus on three themes: energy transition, education and health, with a view that all three of these industries were undergoing significant secular change with quality investment opportunities. Similar to DBL, the financial performance improved dramatically when they expanded the scope of their mandate, with several of their funds in the top quartile for their respective vintages.

There are two private fund examples of place-based investing that Illustrate challenges generating market rate returns in thematic investing across a limited geography – DBL and SJF

[1] March 31, 2023 performance as reported to Prequin by Orange County Employees Retirement System

[1] June 30, 2023 performance as reported to Prequin by Contra Costa County Employees Retirement Association

The future prosperity and well-being of our communities rely on the effective collaboration between public solutions and the private sector.

Portfolios

Portfolio

ResilienceVC is a venture firm investing in seed-stage embedded fintech startups that build resilience for users and deliver returns for investors.

For fifteen years, Arborview has provided growth capital to high-quality management teams building a more environmentally sound, resource efficient future.

Search

Categories

Quick Links

Contact Us

Follow Us