EBC founder Aaron Fishman said: “By working with KKR, IIX and Shujog, we got to the next level in terms of funding and expansion. Their commitment to us enabled us to grow faster than we could have on our own. When potential investors learned that KKR professionals had reviewed, verified and counseled us on our business plan, we had a ‘stamp of approval’ in raising funds we never had before.”
IIX Managing Director Robert Kraybill, said: “Many social enterprises in Asia have achieved proof of concept, but need assistance to scale. IIX and Shujog look to provide these resources. KKR joining this effort was invaluable in that it brought world-class investment expertise to our team, enhancing our ability to provide the support EBC needed at the right time. That support has now been leveraged to raise nearly $1mn, which will positively impact the lives of hundreds.”
KKR Public Affairs Director for Asia Pacific, Steven Okun, said, “In IIX and East Bali Cashews, we found two partners committed to building businesses focusing on operational value-add with the aim of creating a social impact. KKR is pleased to have partnered with such forward-looking organizations, and looks forward to future opportunities to support Impact Investing in Asia.”
KKR, East Bali Cashews, IIX and Shujog presented this project at a panel session at the PublicAffairsAsia SharingValueAsia Conference taking place in Singapore.# # # About East Bali Cashews Based in the rural village of Ban in Bali’s Karangasem District Indonesia, East Bali Cashews uses sustainable, eco-friendly business practices to process unshelled cashews, package and sell them to the domestic and international markets under the brand name of Alamente. They are the first large-scale cashew processing facility in Bali. They have processed over 50 tons of quality cashews with current revenue of approximately US$ 35,000 per month. East Bali Cashews works towards creating strong social impact on the communities through job creation focusing on women and environmental impact through using renewable energy sources to power the processing facility.
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