WHAT IS FIS?
The Social Investment Fund - FIS from Spanish "Fondo de Inversión Social"-, is the first impact investment fund in Chile.
FIS is an innovative financial tool for the Chilean market, investing to create social benefits while generating a financial return, bringing closer together the capitals market and the country’s social needs. Thus, the objective is twofold:
FIS has been awarded Best for the World Fund by B Lab the years 2016 and 2017.
WHO ARE WE?
FIS was born as an initiative of a group of financial executives together with public policies and social innovation experts, who were anxious to apply successfully proven market solutions in Chile for some of the most pressing social problems of our time.
FIS was developed and established under the firm Ameris Capital in 2010. Ameris is a financial services boutique specialized in corporate finance advisory and in asset management in private equity, real estate and financial products for high net worth individuals and institutional investors.
A wide range of public and private actors have been involved in the development of this project, who have contributed their professional experiences and have also engaged the support of prestigious institutions. Meet the FIS team, the Investment Committees and our allies.
WHAT DO WE DO?
In 2010, FIS raised its first fund of USD 4.5M among private investors. FIS invested in seven projects in areas such as education, social housing and environment, that besides having an expected positive financial return, have high expected social results. The institutions range from nonprofit organizations looking to scale their operations to for-profit companies whose mission is to solve a social problem at the Bottom of the Pyramid.
Following the good results of the experience, in 2017 a second fund of USD 7.2M was launched: FIS 2.0. As the first one, its goal is boosting impact investment in Chile and to offer a sustainable social business model. FIS 2.0 plans to invest in 10 projects that demonstrate a remarkable trajectory of social value and that have the potential of sustainability and scalability.
WHAT IS OUR PURPOSE?
A changing world requires the private sector to become more active in solving social problems. This will help countries take further steps towards development. Chile in particular could benefit from a stronger impact investment industry, which is why driving the local impact investing industry is FIS' motivation, as the first and only fund of this kind in Chile.
In the long run, FIS aims at encouraging social entrepreneurship in Chile, increasing accountability in the social sector and building a bridge of mutual trust between the social and the financial sectors.
“FIS gives investors the opportunity to invest with meaning while considering their own values.”
PORTFOLIO OF INVESTMENTS
The first FIS fund invested in 7 projects:
LUMNI: With FIS´ investment, Lumni formed a new fund called "Fondo Ilumina" which finances the studies of 196 disadvantaged students in technical training centers. www.lumni.cl
LA PROTECTORA DE LA INFANCIA: With FIS´s investment, the institution extended the infrastructure of a subsidized rural school in Codao, to allow 428 children from underprivileged families access full school day. www.protectora.cl
TECHO-CHILE: Through FIS' support to TECHO-Chile, it's expected to buy land and build 750 quality social housing for 3,000 people at the Bottom of the Pyramid. www.techo.org
CEIA QUIMAHUE: An center for adult education in Cañete. FIS' investment improved the infrastructure of the institution to enable 200 new adults to improve their future employment and academic perspectives. www.ceiaquimahue.cl
LATE!: A daily-life products company, which donates all its profits to organizations that support vulnerable groups in Chile. With FIS’ investment, Late! was able to develop the water dispersers business area. www.late.cl
Chilerecicla: Chilerecicla is a major actor in e-waste recycling in Chile. FIS' investment allowed Chilerecicla to automate its recycling plant, thereby reaching its goal of reducing waste by more than 600 tons per year. www.chilerecicla.cl
PROMOEDUC: Promoeduc provides learning resources to subsidized schools attended by students at the Base of the Pyramid. In May 2013, Promoeduc successfully achieved economic self-sustainability and was able to repay the investment before the agreed term, improving the education of 6,874 students. www.promoeduc.cl