Creative financing: building complex investment models Casey Lord Investment Manager, CAF Venturesome Julie Roberts Marketing and Fundraising Manager, HelpAge International 24 th November 2011

Building vs. Buying

Matching financial mechanisms to funding needs Unsecured Loan Overdraft Quasi-equity Equity Grant Pre-funding capital fundraising Higher risk working capital Development capital Standby Facility LOW RISK HIGHRISK Property/Asset purchase (mortgage) Appropriate Funding (correlation) Patient Capital Secured loan Cashflow bridging LOW CHANCE OF REPAYMENT HIGH CHANCE OF REPAYMENT

Creating the right funding structure to meet the challenge Unrestricted DEC & appeals Institutional grants Age UK restricted

The big idea: fundraising in new markets

Leveraging mechanism Commercial terms Benefit from ‘first loss’ cover provided by social investors Grants focused solely on areas where needed most Social investment unlocks commercial finance, thereby increasing the scale and social impact

Q&A Casey Lord [email_address] 03000 123 279 www.venturesome.org Twitter: @cafventuresome Blog: http://caf-venturesome.tumblr.com