Calvert Impact Capital

Founded in 1988, Calvert Impact Capital is a Bethesda-based organization that connects investors with initiatives focused on community development and social good globally. It mobilizes capital to finance projects in areas such as affordable housing, job creation, and environmental protection.

Daniel Ford

Director, Investments

Catherine Godschalk

Chief Investment Officer

Stella Li Kirkpatrick

Director, Investments

Songbae Lee

Senior Investment Officer

Fran Seegull

Credit Committee Member

Helen Zhang

Analyst, Investments

12 past transactions

Accial Capital

Venture Round in 2023
Accial Capital, founded in 2017 and headquartered in Massachusetts, is a tech-enabled investment firm focused on small business and consumer loan portfolios in Latin America and Southeast Asia. The firm collaborates with technology-driven loan originators in emerging markets to facilitate financing for consumers and small businesses. By leveraging data, technology, and credit expertise, Accial Capital aims to enhance credit accessibility and promote financial health in these regions. The company offers institutional investors an opportunity to engage in a diversified portfolio of private debt across multiple countries and platforms, targeting high-yield investments while contributing positively to the communities it serves.

Sunwealth Power

Debt Financing in 2021
Sunwealth Power is a clean energy investment firm focused on commercial solar. It uses a proprietary methodology to identify high-performance, high-impact solar projects and builds a diversified portfolio of assets that generate returns and clean energy. The company employs a tech-driven investment approach and leverages its experience in solar to support the deployment of solar power for businesses, municipalities, and nonprofit organizations, delivering favorable financial outcomes alongside meaningful environmental impact.

Northern Arc Capital

Debt Financing in 2021
Northern Arc Capital operates as a non-banking financial company in India, offering microfinance, agricultural finance, housing finance, vehicle finance, consumer finance, small business loans, gold loans, and fintech services. It also provides structured products, capital market instruments, term loan facilities, debt syndication, guarantee-backed lending, and fund management services.

FINCA Impact Finance

Debt Financing in 2020
FINCA Impact Finance (FIF) is a global network of 20 microfinance institutions and banks that provides socially responsible financial services to enable low-income individuals and communities to invest in their futures. With more than 30 years of experience and a mostly local staff of over 10,000, FIF delivers a double bottom line of positive social impact and financial sustainability.

responsAbility Investments

Debt Financing in 2019
responsAbility Investments is a leading impact asset manager headquartered in Zurich that manages assets for institutional and private investors. The firm oversees about USD 3 to 3.5 billion across some 450 ESG-managed high-impact companies in roughly 90 emerging economies, with investments spanning financial inclusion, climate finance, sustainable food, and related sectors. Since its founding in 2003, it has built a global presence with offices in cities including Bangkok, Lima, Mumbai, Nairobi, Oslo, Paris and Tbilisi, and it maintains a FINMA-registered framework. The firm pursues responsible investing by combining financial returns with measurable social and environmental outcomes aligned to the United Nations Sustainable Development Goals.

One Acre Fund

Debt Financing in 2018
One Acre Fund is a non-profit organization established in 2006 and headquartered in Bungoma, Kenya, focused on supporting smallholder farmers in East Africa. The organization provides essential resources such as tools, seeds, and fertilizers, along with agricultural training and market access. Additionally, it offers weather-related risk insurance to protect farmers against potential harvest losses. By equipping subsistence farmers with these resources and knowledge, One Acre Fund aims to enhance food production and improve their income, fostering sustainable agricultural practices and economic stability in the region.

PosiGen

Debt Financing in 2017
PosiGen provides residential renewable energy and energy efficiency solutions. As a Third Party Ownership company, it offers solar systems and energy-efficient retrofits to low- to moderate-income homeowners, helping them reduce utility bills and achieve greater financial autonomy.

Eureka Recycling

Funding Round in 2016
Eureka Recycling is an organization that offers products and services that concentrate on reducing waste through reuse, recycling, and composting. Its goal is to show that waste is avoidable, not inevitable. The group provides answers to the social, environmental, and health issues brought on by garbage through its services, projects, and policy work. It includes a number of programs that include waste reduction, producer responsibility, reuse, recycling, and composting to stop the wasteful loss of economic garbage.

Evergreen

Venture Round in 2016
Evergreen is a plastic recycling and polyester resin production company that operates as a division of Greenbridge. Established in 1998, Evergreen was created to ensure a sustainable and reliable supply of high-quality polyester resin, specifically for the company’s range of PET strapping products. The firm focuses on recycling plastics to contribute to environmental sustainability while meeting the demands of its customers in the polyester resin market.

Ashv Finance

Venture Round in 2016
Ashv Finance Limited is a non-banking finance company based in Mumbai, India, dedicated to providing tailored debt financing solutions to small and growing businesses, particularly those classified as 'missing middle' enterprises. Incorporated in 1998 and rebranded in November 2020, the company specializes in offering collateral-free working capital loans and supply chain financing, including bill discounting loans for sectors such as agriculture, clean energy, education, healthcare, and water and sanitation. Ashv Finance focuses on supporting businesses by assessing their cash flow trajectories rather than relying solely on traditional collateral, positioning itself as a debt solutions provider for early-stage and high-growth enterprises. Through its innovative approach, Ashv Finance aims to empower micro, small, and medium enterprises (MSMEs) to unlock their growth potential and contribute positively to Environmental, Social, and Governance outcomes.

ZOLA Electric

Debt Financing in 2015
ZOLA Electric specializes in providing off-grid solar solutions, primarily serving African markets. It offers solar home kits through leasing or sales, targeting individual households and businesses in rural communities across Tanzania, Rwanda, Ghana, and the Ivory Coast. Founded in 2012, ZOLA Electric operates from Arusha, Tanzania with an additional office in San Francisco, California.

The Paradigm Project

Series A in 2012
The Paradigm Project is a manufacturing company based in Ethiopia, established in 2008. It specializes in producing and distributing clean energy products such as cookstoves, solar lamps, water tanks, and filters. The company operates through a network of agents in Kenya and Ethiopia, aiming to provide affordable solutions that improve lives while promoting sustainability.
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