Impact Venture Credit program

The Impact Venture Credit program invests in companies offering products and services that we believe are helping solve the world’s most pressing environmental and social problems.

 

We provide debt capital solutions to early-stage and growing companies that align with one or more of our sustainability pillars. The program seeks to generate competitive long-term financial returns alongside measurable environmental and social impact.

Sustainability pillar

Examples of relevant products/services

Climate Change

Green buildings and construction materials; recycling and composting services; pollution and emissions control equipment.

Eco Solutions

Renewable energy and alternative fuels; hybrid and electric vehicles; energy efficiency-enhancing products and services; batteries and energy storage.

Resource Efficiency

Sustainable packaging; circular economy and use of recycled inputs; sustainable and regenerative agriculture; water and environmental services; advance materials.

Health & Well-being

Healthful food and beverages; education technology and services.

Sustainable Growth

Infrastructure; smart cities.

Inclusion

Affordable housing; financial inclusion products and services.

 

 

Target criteria

 

Investment universe

  • Venture capital/private equity-backed companies
  • $5 to $50 million in annualized revenues
  • 10% to 25% loan-to-enterprise value (LTV) ratio

Primary geography

North America

Target deal size

Up to $20 million per investment

Term

3–5 years

Structure

  • Secured
  • Unsecured
  • Mezzanine

Use of proceeds

  • Growth capital
  • Equity bridge loan
  • Refinancing
  • Acquisition financing

Additional criteria

Companies must have a fully developed product/service that is either a) generating positive cash flows or b) has a growing revenue stream with a clear path to being cash flow positive within 2–3 years.

 

Potential Benefits of Venture Debt

  • A flexible and customized financing solution tailored to specific company needs.
  • Capital with limited dilution to existing equity investors, company founders and employees.
  • Extends cash runway of a company to support achievement of growth milestones.
  • Provide a bridge between equity rounds.
  • Complement an existing equity fundraise, providing efficient and sustainable capital structure, while allowing venture capital investors to reserve dry powder for future needs of the company.
  • Funding of an accretive acquisition, capital expenses or inventory.

 

 

Aegon Asset Management is pleased to announce that its innovative Impact Venture Credit program has garnered an additional $45 million in funding.


Press release

Representative Transactions

 

Active Investments  
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Connect Homes designs and builds highly-efficient, modular residential homes in its manufacturing facility in California. Connect Homes helps to reduce the cost of home ownership and avoid landfill volumes from construction-related waste. Pegasus manufactures solar mounting systems for residential solar panels. Pegasus enables solar power installation to help avoid greenhouse gas emissions associated with fossil fuels.
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Bluon produces an environmentally friendly alternative to traditional fluorocarbon refrigerants and operates an app-based community that enables HVAC technicians to enhance the energy efficiency of residential HVAC systems. Bluon helps avoid GHG emissions and lowers the cost of ownership of HVAC systems for homeowners. Intellihot designs and builds highly efficient, on-demand water heaters for commercial and industrial use. Intellihot helps to avoid GHG emissions by reducing the energy required by their customers and to reduce the incidence rate of legionella in water heating operations.

 

Realized Investments  
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Enerkem develops industrial projects that convert garbage into sustainable biofuels. Enerkem promotes usage of renewable energy, reduces landfill volumes, and helps avoid greenhouse gas emissions associated with fossil fuels. Meritize offers student loans to individuals seeking skills-based careers. Meritize promotes the financial inclusion of lower and middle-income citizens by providing awareness of, access to, and advancement in careers offering long-term income prospects.

Contact us

   
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Brian Wayne

Director

312.777.2707

bwayne@aegonam.com

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James Rich

Senior Portfolio Manager

312.596.5341

jrich@aegonam.com

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Alena Solonina

Senior Impact Venture Credit Manager

818.279.1689

alena.solonina@aegonam.com



Get started

We are here to support companies that are developing innovative solutions to the world’s sustainability challenges. If you're looking to learn more, please fill out the contact form and we'll get back to you shortly.

 

 

 

This information is intended solely to enable Aegon Asset Management’s Impact Venture Credit program to identify eligible early-stage and growing companies in need of financing and is not an offer of any investment advisory related products or services.