Acrecent, A Sygnus Company Paves The Way For Impact Investing In The Caribbean
(Puerto Rico) Acrecent, a Sygnus company based in Puerto Rico, establishes a historic union with four international impact investment firms, providing much-needed capital for SMEs in Puerto Rico.
Acrecent recently secured a US$34.8 million investment from global impact investment firms, BlueEarth Capital, Ceniarth, Calvert Impact Capital and Community Development Venture Capital Alliance, (CDVCA). These firms are recognized for investing their capital and expertise in marginalized or vulnerable communities and countries facing social and economic challenges. Through this new partnership, their collective mission is to improve livelihoods and generate an impact that is not only measurable, but which also produces sustainable financial returns.
This meaningful investment allows Acrecent to continue deploying critical financing to hundreds of SMEs in underserved sectors which are essential for the social and economic development of the island, such as healthcare, affordable housing construction, hospitality and renewable energy, among others.
James Connor, co-founder and CEO of Acrecent, shared, “Having BlueEarth and Ceniarth join Calvert Impact Capital and CDVCA in our AFP impact fund inspires me to double down on our mission of addressing the chronic gap in access to credit for overlooked SMEs. I am confident the joining of forces will serve as a catalyst for other impact-centric LPs in the U.S. and other developed markets to play a role in addressing the gross underdevelopment of Puerto Rico’s nonbank, private capital/credit sector.”
As awareness of social responsibility expands and companies are increasingly under pressure to conduct their business responsibly, more investors are eager to generate both financial and social or environmental returns. Responsible impact investing produces a multiplier effect which allows capital to be re-invested sustainably throughout communities in need.
“The deepening of relationships with global impact investors by Acrecent highlights the continued growth and expansion of the Caribbean private credit market and reflects the strategic importance of Acrecent to SCI’s regional private credit platform. Channeling capital through the impact investing channel aligns with Sygnus Credit Investments (SCI) mission to deepen access to credit for Caribbean middle-market companies, while accelerating equality of access to economic opportunities” said Jason Morris, Chief Investment Officer of Sygnus Capital Limited, the investment manager for SCI.
