ANANDA

In the last quarter, we have committed to a new fund from an existing manager in our portfolio - Ananda. The manager is continuing the same investment strategy of previous funds and are raising larger fund sizes.

Founded in 2010, Ananda Impact Ventures was an early pioneer in impact venture capital. The manager’s strategy is to invest in, and scale, impact driven for-profit enterprises across healthcare, education, sustainability and social justice. Snowball is invested in Ananda’s first fund and has committed to the fourth fund.

Ananda’s invests in companies which are reaching underserved groups. The majority are explicitly committed to reaching vulnerable populations, such as children from a disadvantaged background. Examples in the Ananda portfolio include reaching:

+ Younger people through Third Space Learning, a one-on-one online numeracy tutoring programme for children on the Pupil Premium.

+ Older people through Careship, an affordable live-in care provider for elderly patients.

+ People with disabilities through Auticon, an IT consulting firm which provides employment for people with autism.

Ananda has a strong track record and meets our financial return requirement for impact venture and growth equity. Impact is at the core of its operations; all its assets are invested for impact. At Snowball, we believe that Ananda ‘walks the walk’ when it comes to impact – for example, the manager’s carry is tied to impact, it has an impact term sheet which is genuinely pioneering and an independent advisory committee which signs off on KPIs and targets.

If you have any thoughts on the article or would like to learn more about Snowball, please do be in touch on hello@snowball.im