SJF Ventures Closes Fourth Fund at $125 Million
December 15, 2016, Durham, NC – SJF Ventures has closed SJF Ventures IV, L.P., a $125 million fund investing in high-growth companies creating a healthier, smarter and cleaner future. The oversubscribed fund will build on proven impact investment strategies from three previous SJF funds that have delivered superior financial returns and driven sizable positive impacts in clean energy and climate change mitigation, asset recovery and recycling, sustainable food and agriculture, education, health and wellness, and quality job creation. SJF has offices in Durham, New York and San Francisco and invests throughout the U.S.
Limited partners subscribing to SJF Ventures IV include more than two dozen foundation endowments, along with leading family offices, funds of funds, pensions and individuals active in impact investing. “We are thrilled to bring together this assembly of impact investors to help us support highly successful businesses driving lasting, positive changes,” said Dave Kirkpatrick, SJF Ventures Managing Director. “Fundraising went quite quickly due to SJF’s track record but also to the work of many to educate mainstream investors on impact investing.”
Founded in 1999, SJF Ventures has invested in 52 portfolio companies across three funds. Representative portfolio businesses include NEXTracker, which has delivered more than 4 gigawatts of solar tracking systems globally; intelligent infrastructure provider Novinium, which has rejuvenated over 150 million feet of underground power cable in situ; circular economy leader Optoro, whose reverse logistics platform has allowed retailers to save 60% of the waste and 31% of the carbon footprint of returned goods; sustainable food producer Vital Farms, which is the nation’s largest provider of pasture-raised eggs; preventative health leader Solera Health, which has created a marketplace that connects the 86 million U.S. adults at risk for type 2 diabetes with thousands of community and virtual wellness providers; education technology company Raise, where over 320,000 students – representing 1 out of 2 high schools in America – have signed up to earn ‘micro-scholarships’ from over 200 colleges; and marketing automation company LeadGenius, which serves over 200 companies and is intentional about hiring individuals from underemployed populations.
Total employment across the entire SJF portfolio is over 10,000 jobs, with 78% of those jobs created since the SJF financing round. SJF Ventures was recently named a Top 10 impact fund based on its Impact Business Model Rating by the Global Impact Investment Rating System (GIIRS) and a Finalist for the international 2017 Circular Economy Investor Award.
SJF Ventures typically invests between $3 and $10 million. The fund focuses on expansion-stage companies and is deeply engaged at the board level to help drive business and impact results of portfolio companies. The SJF investment team is comprised of Alan Kelley, Arrun Kapoor, Christine Primmer, Cody Nystrom, Dan Geballe, Dave Kirkpatrick, David Griest, Rick Defieux and Stephanie Nieman.
