Project detail - Ecoenterprises Partners IV L.P.

Ecoenterprises Partners IV L.P.

Status: Approved investment
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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

EcoEnterprises (“EcoE”, the “Fund Manager” or “FM”) is a women-led fund manager with a 20+ year track record of building investment portfolios with a focus on critical natural ecosystems in LAC. As a pioneer in biodiversity investing, they finance growing businesses to preserve and restore natural habitats, promote climate action, and create social equity alongside financial returns. FMO is an investor in EcoE II and III. The FM is currently fundraising for their fourth fund (“Fund IV”) with first close expected in 2024. Terrasos S.A.S. (“Terrasos”) structures and operates environmental investments focusing on the Colombian compliance market for biodiversity offsets. Terrasos is considered a credible target for Fund IV.

What is our funding objective?

FMO’s financing will enable Terrasos to deliver on its three short term priorities to improve the resilience of their business model and replicate their impact. 1) To develop new revenue streams from existing Habitat Banks alongside the biodiversity credits, such as non-timber forest products or eco-tourism. 2) To further develop their approach and structures to generate and market biodiversity credits for the voluntary market. 3) To expand their consulting operation, allowing them to replicate their impact by working with other biodiversity net-gain initiatives across LAC. By financing Terrasos ahead of the first close of Fund IV, FMO also facilitates the fund manager warehousing of the deal.

Why do we fund this investment?

The proposed repayable development contribution fits well with MFF’s mandate as Terrasos’ core business model involves the protection and restoration of valuable threatened ecosystems, including forested areas. By structuring the facility with existing FMO investee EcoE, FMO works with a familiar and trusted party with deep biodiversity expertise and a solid track record in managing impactful SME investments in LAC. Further comfort is also provided via the prior/existing involvement of other trusted partners (P4F, IDB, WWF, USAID). Our MFF partners in the UK Government are also very supportive of Terrasos. Lastly, Terrasos is an exciting opportunity for FMO to deliver on the biodiversity ambitions of the Strategy 2030, and to gain exposure to the novel and emerging market for biodiversity credits. By backing a global frontrunner in the sector, FMO can build much needed expertise in this increasingly important focus area for results-orientated impact generation and co-ordinated conservation interventions.

What is the Environmental and Social categorization rationale?


Latin America & The Caribbean
Latin America & The Caribbean
Agribusiness, Food & Water
Publication date
Effective date
Total FMO financing
USD 0.59 MLN
Mobilizing Finance for Forests
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)