Led by the MaRS Centre for Impact Investing (MCII), and in collaboration with MEDA and Sarona, the INFRONT Global Fund Manager Mentorship Program matches seasoned North American venture capital / private equity managers as mentors with high-potential private equity fund managers based in frontier and emerging markets.

Fund managers in these markets play a critical role in attracting capital to small and medium enterprises that have a positive social impact.

Mentors can help these impact-oriented fund managers attract capital from institutional investors in North America by sharing insights, imparting knowledge and offering a strategic sounding board for business and investment strategies.

KEY AREAS OF MENTORSHIPAreas of mentorship will be identified and prioritized by the mentee, and may include the following:

Fundraising• Explore the North American investor landscape

• Review fundraising strategy, positioning and pitch material

• Optimize opportunities with institutional investors

• Learn about selling a fund without a solid track record

Investment process• Review processes

• Understand transaction structuring and valuation

• Learn about terms and conditions for mitigating common issues

Deal structuring and valuations• Review term sheets and agreements

• Develop valuation models

Investor/LP relationship management• Review quarterly / annual reporting requirements and templates

• Develop LP meeting structure

• Learn advisory board policies

LP due diligence• Review processes and expectations of North American investors

• Learn about completing questionnaires

• Prepare for due diligence

ABOUT INFRONT

Impact Investing in Frontier Markets (INFRONT) is an innovative public-private partnership between three Canadian organizations (Mennonite Economic Development Associates [MEDA], Sarona Asset Management and the MaRS Centre for Impact Investing [MCII]) and the Government of Canada to support sustainable development in frontier and emerging markets.

Central to this initiative is the up to $150 million Sarona Frontier Markets Fund 2 LP (SFMF 2 LP), which focuses on investing growth capital in companies and private equity funds in frontier and emerging markets around the world.

The Government of Canada made a $14.6 million investment commitment, and also provided $5 million to launch both a Sustainability Innovation Grant Fund (managed by MEDA) and a Global Fund Manager Mentorship Program (managed by MCII).

GLOBAL FUND MANAGER MENTORSHIP PROGRAM

PHASE DESCRIPTION PURPOSE

Needs assessment Potential mentor and mentee conduct 3 – 4 calls

Hold an initial discussion around objectives and areas of mentorship and review fund documents. Finalize agenda for mentor’s in-country visit.

In-country visit Mentor visits the mentee’s country for a duration of 5 – 10 business days

Conduct mentorship around mutually identified focus areas.

Follow-up Report on action items discussed during visit

Debrief on the visit, and complete outstanding items and the program survey.

Questions? Contact Melwyn Dcosta, Manager INFRONT Global Fund Manager Mentorship Program, at mdcosta@marsdd.com.

INFRONT Global Fund Manager Mentorship Program, MaRS Centre for Impact Investing 101 College Street, 4th Floor, Toronto, ON M5G 1L7

Foreign Affairs, Trade and Development Canada

Affaires étrangères, Commerce et Développement Canada

Project undertaken with the financial support of the Government of Canada. INFRONT is a partnership of

PROGRAM STRUCTURE

Mentee profile• Mentees are principals from funds that have previously submitted an investment

proposal to Sarona.

• They operate in emerging/frontier markets and focus on deploying investments in progressive small and medium enterprises in their country.

• They are actively seeking to raise capital from a broader institutional investor group, many of which are in North America.

Mentor profile• Mentors have 10+ years experience as the principal manager in a North American venture capital / private equity fund.

• Through their leadership and advisory roles, they have provided strategic investment, management and operations advice to a broad spectrum of asset owners.

• They bring a deep knowledge of the sector and an array of perspectives to make the mentoring relationship a valuable source for investor insight.

Mentoring commitmentMentors and mentees commit to a four- to six-month mentoring relationship over three phases: