The intention
The intention of NOTS Foundation was to use the NOTS Microcredit Investment Fund 25 million euros for microcredits.
The approach
A fairly standard investment fund that was promoted by a bank that wanted to strengthen its image in the field of sustainable and corporate social responsibility.
The result
The result was € 1 million instead of the €25 million we hoped for. The reason was twofold: the bank's account managers did not expect such a product from this bank and, furthermore, the account managers were not very enthusiastic about this product.
The lessons
When evaluating, most investors considered receiving returns to be secondary to supporting entrepreneurs in developing countries. This gave NOTS the idea to develop the NOTS Microcredit bonds. The money that NOTS saves from this is used to provide scholarships to underprivileged children in developing countries.
Author: visitor symposium 6/11 Dare to fail Brilliantly
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