Impact Investment

Impact Investment
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Start picking the five-string banjo like a pro with this definitive guide to bluegrass banjo! Whether you’re an absolute beginner or an experienced player, Bluegrass Banjo For Dummies gets you started off the right way and is your road map for mastering today’s most popular traditional and contemporary banjo picking styles. Online audio and video clips combine with the book’s clear step-by-step instructions to provide the most complete – and fun – banjo instruction experience available anywhere! Bluegrass banjo has never been more popular and is heard today not only in country and folk music, but in jazz, rock and country styles. Bluegrass Banjo For Dummies provides everything you need to know to play just about any kind of music on the five-string banjo by getting you started with the roll patterns essential to Scruggs style picking. You’ll then add left-hand techniques such as slides, hammer-ons and pull-offs, play great sounding licks and perform classic tunes like “Cripple Creek” and “Old Joe Clark.” You’ll navigate up the neck on the instrument as well as learn the essential skills you need to play with others in jam sessions and in bands. You’ll even tackle contemporary banjo styles using melodic and single-string scales and picking techniques. Choose a banjo and accessories that are just right for you and your budget. Put on your fingerpicks, find your optimal hand position and start playing with the help of online audio and video. Explore the fingerboard using melodic and single-string playing styles. Accompany others in different keys with roll patterns and chord vamping techniques. Keep your banjo sounding its best with practical and easy set up tips. Bill Evans is one of the world’s most popular banjo players and teachers, with over forty years of professional experience. In Bluegrass Banjo For Dummies, he shares the tips, secrets and shortcuts that have helped thousands of musicians, including many of today’s top young professionals, to become great banjo players.

Оглавление

Allman Keith А.. Impact Investment

Preface

Acknowledgments

Chapter 1. Introduction to Impact Investing

What Is an Impact Investment?

Who Makes Impact Investments?

How This Book Is Designed

Notes from the Field

What This Book Is Not

Setting Forth

Chapter 2. Sourcing and Screening

Sourcing Strategy

Geographic Analysis

Country Economic Analysis

Beyond Geography and Economics

Sourcing for Impact

Screening Process

A Look at Three Potential Investments

Moving Forward with an Investment

Concluding Thoughts on Sourcing and Screening

Chapter 3. Investment Analysis and Valuation

Information Exchange

Solero Bottom-Up Analysis

The Solero Projection Model

Valuation Multiples

Desktop Due Diligence: Social Impact Mapping

Continuing the Investment Process

Chapter 4. Due Diligence and Investment Structuring

Due Diligence

Utilizing Due Diligence Information

Liquidation Preferences

Creating an Investor Base and Downside Case

Bridging Potential Valuation Gaps with Convertible Debt Structures

Agreeing to Terms

Chapter 5. The Term Sheet and Definitive Documentation

The Term Sheet

Anti-Dilution

Definitive Documentation: The Subscription Agreement

Definitive Documentation: The Shareholders' Agreement

Finalizing the Investment

Chapter 6. Post-Investment Monitoring, Management, and Value Building

Reporting and Monitoring

Common Reporting Metrics

Solero's Example Impact Reporting Framework

Post-Investment Case Studies

Methods of Exit

The End of the Investment Process

Chapter 7. Impact Investing Funds

Private Equity or Venture Capital?

The Basic Construct of a Private Equity Fund

The Economics of a Private Equity Fund

Key Considerations in Fund Economics

The Differences between Traditional Funds and Impact Investing Funds

Benchmarking

Concluding Thoughts on Impact Investing Funds

Chapter 8. Investment Alternatives, Challenges, and Outlook

Investment Alternatives

Impact Investing Challenges

Impact Investing Outlook

About the Companion Website

About the Authors

Отрывок из книги

Impact Investment

A Practical Guide to Investment Process and Social Impact Analysis + Website

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The first phase of the investment process involves identifying potential investments. Most investors have a specific investment thesis that they, or if organized as a fund, their investors believe in. Therefore, it's imperative that the investments the investor sources fit into the investment thesis. For instance, if a healthcare investment fund is funded by high net worth individuals who have an interest in making equity level returns, while trying to address global health problems, the investor must be very careful to find healthcare related investments at good valuations that will lead to strong exits.

While sourcing and screening investments that fit an investment thesis seems relatively straightforward, time and resources constrain an investor. Time works against an investor since costs constantly accrue. The longer it takes to make investments, the longer it will be before the investment exit returns value. In order to properly place funds, resources are needed, both financially and tangibly. It costs money to undertake onsite due diligences, and to hire consultants, lawyers, or accountants. Often, an investor will hire multiple resources to help with the process. Effective investors place money efficiently and strategically, minimizing costs along the way.

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