Georgia’s first impact fund, Actio, now has another first to add to the list: first investor, MBC.
“We are honored to be the first impact investor in Georgia and to begin our journey in partnership with Actio,” said Eto Chachibaia, Chief Operating Officer MBC. “Investing in an impact fund allows MFI MBC to support social enterprises in a more comprehensive manner, both financially and non-financially, and focus on long-term complex solutions. On the one hand, we contribute to the growth of social enterprises, and on the other, the company has a great opportunity to increase its positive impacts that are sustainable and long-term.”
Also present to sign the partnership agreement were Eka Urushadze, Executive Director of the Center for Strategic Research and Development of Georgia (CSRDG), and Kristine Kandelaki, Actio’s Manager.
"We are happy that we have started this long journey of supporting impact investment ecosystem development in Georgia in partnership with MBC,” said Kristine. “MBC is the company which approaches corporate social responsibility in a strategic way and has been supporting social enterprises and socially driven organizations in Georgia for many years. We hope MBC's support will be inspirational for other business companies and investors to join the Impact Busters community."
‘Impact Busters’? We heard this term before in last December’s Impact Week session featuring Kristine and other first-time funds. With more and more first funds ramping up activities in the Eastern Partnership countries, we suspect a sequel is on the way.