THE MELOY FUND - I , GP LLC
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
The Meloy Fund for Sustainable Community Fisheries (“Meloy”) is a pioneering impact investing vehicle developed to provide capital to enterprises that participate in the coastal fishing and aquaculture supply chains. Its focus is on investments in Indonesia and the Philippines. It is estimated that there is $4 billion in latent value to be unlocked, over 1 million local fishers to benefit and 21 million hectares of critical marine habitat to be revitalized through fisheries reform and investment in this region.
What is our funding objective?
The objective is to help Meloy with supporting portfolio companies and other impacted SMEs in its pipeline to provide a safe working environment for employees and fish suppliers, as well as bridge the gap between slow-moving government aid and current need for subsistence and health and safety supplies. Since the outbreak of COVID-19, Meloy has responded by implementing a strategy that provides benefits to key stakeholders in this sector, including: (i) unlocking liquidity and ensuring safe operations for the portfolio and SMEs in the sector, reducing supply chain disruptions and ensuring business continuity; (ii) facilitating the continued employment of workers in portfolio companies; (iii) providing subsistence aid and continued purchases in support of the most vulnerable small-scale fishers in local communities.
Why do we fund this investment?
The COVID-19 pandemic has disrupted global seafood supply chains and threatened the viability of SMEs in the sector, which provide the main source of livelihoods for many of the most vulnerable local community members in the developing areas. FMO’s emergency grant will be critical in these initiatives to unlock key value chain actors and to provide support to those in need during the transitional period as logistics and supply lines re-open over time.
What is the Environmental and Social categorization rationale?
NA
More investments
| Date | Total FMO financing |
|---|---|
| 12/18/2018 | EUR 0.22 MLN |
- Region
- Asia
- Country
- Philippines
- Sector
- Agribusiness, Food & Water
- Effective date
- 9/8/2020
- End date
- 8/24/2022
- Total FMO financing
- EUR 0.07 MLN
- Funding
- MASSIF