Looking ‘under the bonnet’ at investments in the Snowball portfolio.
Laura Boyle, Head of Marketing, Snowball
Thu 21 September 2023
The GIIN’s 2022 market sizing report estimates the current size of the global impact investing market to be $1.164 trillion, revealing its considerable growth in recent years. With an increasing number of impact investment options coming into the market all the time, a key way you can compare products is to look behind the marketing documents at what exactly the managers you are evaluating are invested in.
In the Snowball portfolio you will only find products and services which have the intention to contribute to solutions for social and environmental challenges, whilst generating a competitive financial return.
Snowball portfolio top ten private holdings
eFishery | Aquaculture
A 33-year-old biology graduate, Gibran Huziafah, grew up near slums in Jakarta where he often slept rough and once did not eat for three days. He has built a business which can increase farmer yields by up to 30 percent and double net profit, helping hundreds of millions of farmers globally while tackling the global challenge of food security.
eFishery make fish healthier, oceans cleaner and business better. Their solution puts farmers in control by using a simple smartphone. For aquaculture farms, fish feed can comprise over 50% of costs, which is unaffordable for many small-scale farmers. eFishery has developed a smart feeder device to help farmers in Indonesia optimise feeding, fish health, and water quality, whilst reducing waste. The technology senses a fish's appetite by monitoring their vibrations allowing eFishery farmers to feed their fish automatically, at the right time and with the right amount of feed. This reduces waste and pollution, and increases product quality and farmer profits.
New Globe | Education technology
NewGlobe’s mission is to ensure all education systems are inclusive, equitable and transformative. They work with national and state governments to create powerful technology-enabled education systems and apply data-driven improvements to learning outcomes. In practice this means durable tech devices in classrooms, loaded with lesson plans designed by education experts that allow more equal and consistent access to learning.
NewGlobe’s approach to learning is informed by pedagogical research which harnesses the power of data. Learning data is used to develop education ecosystems that drive equity of learning, irrespective of socioeconomic disparities. Government education programmes supported by New Globe across Africa and Asia have helped millions of children learn efficiently and effectively. Read more about their impact approach here.
Grover | Technology rental
Grover is experiencing a significant vote in confidence from investors who are attracted by this sophisticated solution for consumers who value access over ownership and factor sustainability into their spending decisions. Grover rents technology on a flexible basis to individuals and businesses for periods as short as one month. After a subscriber has finished with a device, it is sent back to Grover, professionally refurbished and rented to another customer. At the end of their lives within the Grover ecosystem, Grover sells its devices to secondary market platforms to ensure devices go on to have at least one further use-cycle.
The fast-growing company is redefining people’s relationship with their tech and challenges the “planned obsolescence” design for products which have an artificially limited useful life to increase sales volumes by reducing the time between repeat purchases. Grover is showing there is another, more sustainable path.
Fenix Renovables | Renewable energy
Fenix Renovables has a 133 megawatt operational solar photovoltaic plant in Iberia and is one of the largest utility-scale solar PV facilities in Spain. The subsidy-free project, located in the town of Puerto Real (Cadiz province) in Southern Spain, has a long-term power offtake agreement.
Spain is an attractive market for new renewable power generation as the country has one of the highest solar resources in Europe and a favourable operating environment with low development costs.
This Puerto Real project is estimated to reduce greenhouse emissions by over 175,000 metric tons– the equivalent of emissions produced by 38,000 passenger vehicles driven for a year or the electricity to power almost 30,000 homes for a year. Over the lifetime of the project, the site will employ up to 300 workers, many from the local area.
GEV Wind Power | Renewable energy
GEV Wind Power offer in depth expertise for a range of effective wind turbine blade services and repairs including structural, complex and cosmetic repairs.
The company has grown from providing blade maintenance services for a single European turbine original equipment manufacturer to delivering wind turbine maintenance, inspection, fabric and tower services to owner operators, utilities and all major turbine original equipment manufacturers across the globe. They have over 10 years of experience and growth, correspondently evolving alongside the ever-advancing industry itself. Utilising GEV’s pool of 600+ industry trained technicians they can guarantee the highest levels of expertise, react quickly to save their clients time and reduce the cost of lost production.
Just Ask | Housing management
Just Ask works exclusively with housing associations, mainly in the South-East of England, providing a range of services such as cleaning and general grounds maintenance. Under the leadership of Andrew Shiel and Peter Ticehurst, it has grown from a small family business into a company employing nearly 450 people and serving over 50,000 homes. In the last three years, it has increased revenues at a compounded annual growth rate of over 40%. This off-market investment represents the first time the business has taken on external funding, as it looks to support its next phase of growth.
Seneca | Sustainable forestry
Affiliates of The Lyme Timber Company LP (“Lyme”) acquired approximately 92,000 acres of forestland in north central Pennsylvania and southwest New York from Seneca Resources on December 10, 2020. The land is located primarily in Potter, McKean, Cameron, and Elk Counties, Pennsylvania, and the acquisition adds to Lyme’s 67,000-acre existing forestland ownership in the region. Three Rivers Forest Management, a business Lyme established in Coudersport, Pennsylvania, will manage the combined land base, which spans fourteen counties in Pennsylvania and five counties in New York. The acquisition reflects Lyme’s commitment to sustainable forest management and the forest products supply chain in Pennsylvania.
Great Lakes Timberlands | Sustainable forestry
In November and December 2019, Lyme Timber acquired approximately 677,000 acres of land in the Upper Peninsula of Michigan and northeast Wisconsin in three transactions. The property constitutes the largest private forestland ownership in the region and includes some of the region’s highest quality sugar maple stands, as well as a diversity of other hardwood and softwood species. The property also benefits from strong, stable markets for wood products.
Lyme will continue sustainable harvesting operations to support local economic development and will seek opportunities to pursue conservation outcomes through the sale of conservation interests and carbon project development. The property is managed and certified to the SFI ® Forest Management Standard to ensure sustainable management and conservation of the forest resource.
Protix | Insect meals
Protix is the world leader in insect ingredients. They believe that feeding the growing world population should go hand in hand with protecting our beautiful planet. Fortunately, the solution lies in nature itself: insects provide low-footprint proteins and other nutrients that can be processed into more sustainable feed and food.
Since 2008, they have been perfecting the insect ingredients that help feed and food manufacturers bring healthy and sustainable nutrition to the world. Their mission is to bring the food system back into balance with nature.
Kirklees Better Outcomes | Homelessness support
Kirklees Better Outcomes Partnership is an alliance of eight specialist organisations, collaborating to empower and enable individuals at risk of homelessness to achieve their potential and live independent and fulfilling lives.
Across rural and urban locations of Kirklees, they focus on supporting and stabilising participants’ accommodation, so they can live in a safe and settled home. At the same time, they work with participants to understand their goals and ambitions, doing whatever they can to empower them to achieve these.