Investments from Heron: Investments from Heron

At Heron, most of our investments are made through money managers. Our investments in public equity, private equity, mezzanine and debt funds are focused on impact oriented managers who integrate financial and social considerations into their analysis and performance measurement.

As the above chart shows, since 2012, we have made fewer than 25 investments in total either directly or in funds -- 10 of which were grants. This approach helps us engage more deeply with each investment.

When we invest directly, either via a recommendation from a fund manager or through our own due diligence process, the kinds of enterprises in which we invest tend to:

  • Have a multi-year track record, a solid management team and a reliable operating model;
  • Have a large geographic footprint or can show broad market influence;
  • Have identified a substantial growth or change opportunity that will lead to greater impact, increased revenue and sustainable operations;
  • Have a clear business plan that documents past financial activity and projected financial growth;
  • Articulate how a capital infusion from Heron and other providers will help them seize this growth or change opportunity; and
  • Be well positioned to attract and retain other investors.

We have no formal application process. Whether you are a nonprofit, for-profit, CDFI, private equity fund, etc.—if you think your enterprise or fund might be a good investment for us, please send us your track record of financial and social performance over several years along with a short summary of your market opportunity and how capital can make a difference. We also would prefer to speak with at least one of your dedicated investors/funders.

Even if a financial relationship is not the right fit, we still want hear your thoughts and ideas so that we can continue to learn and grow.