LCEF successfully exits award-winning Indonesian social enterprise Nazava
LCEF, the early stage investment fund has completed a successful exit from the award-winning Indonesian social enterprise, Nazava. LCEF, an early stage impact investment fund that provides patient capital, technical and management support to social enterprises that improve the lives of low-income people in developing countries, was an early supporter of Nazava's, helping it prosper and grow.
Nazava is an Indonesian social enterprise that designs and sells water filters that provide safe drinking water affordable to anyone irrespective of income. Worldwide 1.6 billion people drink water that is contaminated with bacteria from faeces (e-coli). Others spend hundreds of dollars per month on boiling or buying water. Nazava filters, which are designed in the Netherlands, remove 99.9% of bacteria while storing 16 litres of safe drinking water which means families never run out of safe drinking water. Well, river, tap and rain water all become potable after being filtered by Nazava.
Over the 5 years we LCEF has been an investor in Nazava, the company has more than tripled its revenues. Nazava has during this time also successfully raised equity and brought on new shareholders and board members to help it scale further, while winning a prestigious Ashden Award (2016).
LCEF, which recently merged with OPES is consolidating its focus on East Africa and raising new funds for entrepreneurs in this region. “We refocus our energies in this region we would like congratulate Nazava on its ability to successfully and responsibly repay its loan to us, and wish the company and its new partners all the best in the future. It goes without saying that if Nazava ever branches out into Africa, we will be interested to reengage with it!” contributes Emma Caddy, Investment Director of Opes-LCEF.
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