SJF Ventures conducted the final closing on its third fund with more than $90MM in capital commitments, tripling the size of the previous $28MM second fund.    The target for SJF Ventures III was $75MM and the fund was substantially oversubscribed at its final April closing.    “We are honored that so many investors choose to join our partnership,” said David Kirkpatrick, SJF Managing Director and Co-Founder.   “We are particularly excited that a wide variety of bank, insurance, foundation, family office, pension, mutual fund, and individual investors have recognized that SJF’s impact investing strategy can yield above market financial and mission results.”    SJF’s current, second fund is performing in the top quartile all US venture capital funds of its vintage year.

SJF Ventures invests in high growth, positive impact companies seeking expansion capital rounds of $1MM to $10MM.   SJF has invested in 36 portfolio companies over the last decade.   “We realize SJF’s success is due to the exceptional results achieved by our portfolio companies such as Aseptia, BioSurplus, CleanScapes, Community Energy, eRecyclingCorps, Fieldview, Optoro, MediaMath, MedPage Today, and ServiceChannel,” said David Griest, SJF Managing Director.   “We are eager to find the next set of great entrepreneurs for our third fund.”

SJF Ventures has a team of six senior investment professionals, based in offices in Durham, NC, New York and San Francisco, and invests nationwide.  SJF has particular expertise and focus on the asset recovery, recycling & reverse logistics, energy & resource efficiency, intelligent infrastructure, sustainable agriculture and food, education, health and wellness sectors.

Investors in SJF Ventures III include banks such as Citi, Deutsche Bank and State Street Bank; the endowments of the Annie E. Casey, F. B. Heron, Hull Family, Jesse Smith Noyes, and Park Foundations and the Wallace Global Fund; insurances and financial services firms MetLife and Prudential Financial, Inc.; mutual and pension funds Calvert Equity Portfolio and MMBB Financial Services; Investors’ Circle members; family offices including Armonia, the Gary Community Investment Company and OpenBox; and clients of Abacus Wealth Partners, Athena Capital Advisors, Ballentine Partners, Cambridge Associates, the CAPROCK Group, Effective Assets, Federal Street Advisors, Filament Advisors, ImpactAssets, Imprint Capital, Mercer Consulting, Natural Investments,  Threshold Group LLC, Trillium Asset Management,  Veris Wealth, and Watershed Capital.  Morgan, Lewis & Bockius LLP acted as legal advisor to SJF Ventures.

For further information contact:

David Kirkpatrick, SJF Ventures, 1-919-908-8365, dkirk@sjfventures.com , www.sjfventures.com

SJF Ventures is a growth-stage venture capital firm that pursues superior financial returns by investing in rapidly growing business that are generating positive social and environmental impacts. Sectors of interest include sustainability and technology-enhanced services.   SJF has recently launched its third fund, SJF Ventures III.   The second fund is producing returns that rank in the top quartile of its vintage peer group.

SJF seeks to hire an analyst or associate in each of its three offices.  For position descriptions and application instructions for each office, see Durham, New York and San Francisco.

Cody has played a key role with several successful SJF portfolio companies.   These include Community Energy, a Philadelphia-based utility-scale solar developer and renewable energy credit marketer and CleanScapes, a Seattle-based recycling, organics and waste services provider, which was sold successfully to Recology in 2011.

She was previously at Ewing Bemiss & Co., an investment bank based in Richmond, Virginia that provides M&A and other financial advisory services to middle-market companies, primarily in the energy and environment fields. She worked on over a dozen M&A transactions and capital raising assignments totaling over $650 million in transaction value. Cody developed deep industry and project finance experience representing companies in the renewable energy space, specifically within the landfill gas, waste-to-energy and energy efficiency sectors.

Cody graduated summa cum laude from the University of Virginia with a BS in Systems and Information Engineering and a minor in Business.  Additionally, Cody serves on selection or advisory committees for Investors’ Circle, Virginia Commonwealth Energy Fund, Virginia Innovation Partnership, and the Venture Forward mentoring group at University of Virginia.

Aseptia’s novel and patented technology enables the production of shelf-stable food products that maintain the flavors and nutrients of fresh food without the use of preservatives or refrigeration. The process also saves energy, packaging material and distribution costs while maintaining over 12 month shelf life, enhancing food safety, and improving product quality and nutritional value. Aseptia opened its Troy, NC based food manufacturing facility in August 2012 under the name Wright Foods, a wholly owned subsidiary of Aseptia. The company produces a wide range of premium food products including fruit sauces, tomato products, vegetables, soups and beverages.

“Aseptia is the cutting edge of sustainable food processing,” said David Griest, Director at SJF Ventures. “Their technology has the potential to replace most every canned product with the equivalent of fresh foods and in a superior packaging form. Aseptia has achieved commercial scale production, allowing major food companies to both improve existing products and launch entirely new categories.”

“Aseptia is committed to transforming the food industry by providing shelf-stable products that maintain the flavors and nutrients of fresh foods without preservatives,” said J. Michael Drozd, President and CEO of Aseptia. “We are delighted to have SJF as a partner. We very much appreciate SJF’s commitment to sustainability and creating disruptive solutions in the marketplace. We share SJF’s vision of building a company that will have a positive impact on the world.”

About Aseptia
Aseptia’s mission is to provide the best tasting, most nutritious, and highest quality shelf-stable foods for its customers. The Aseptia team combines extensive experience in food manufacturing, vast technical expertise in aseptic processing, and a deep entrepreneurial spirit with a drive to innovate. As the technology leader in shelf-stable food processing, Aseptia is capable of creating food products unmatched by any other food producer in the world, customized from concept to plate. For more information visit www.wrightfoods.com.

About SJF Ventures
SJF Ventures is a venture capital fund with offices in Durham, NC, New York and San Francisco. SJF has a 14-year successful record of assisting visionary and talented management teams in building industry-leading firms. SJF provides strong expertise and networks in the resource efficiency, sustainability and tech-enhanced services sectors. For more information visit www.sjfventures.com.

Contacts:
Michael Drozd, CEO
Aseptia, Inc.
mdrozd@aseptia.com
(855) 273-7800

David Griest, Managing Director
SJF Ventures
(919) 530-1177, x409
dgriest@sjfventures.com
###

Barcelona, Spain and Brussels, Belgium– February 25, 2013 – eRecyclingCorps (eRC), the world’s leading provider of operator-grade wireless device trade-in solutions, today announced that it has completed 10 million wireless device trade-ins since its inception in 2009. eRC nearly tripled its collection volumes over the past year, completing more than seven million wireless device trade-ins in 2012 alone – more than any other device trade-in provider. This rapid growth demonstrates the proven success of eRC’s core business proposition integrating instant credit directly into retail point-of-sale platforms, making in-store device trade-ins both convenient and rewarding for wireless customers.

Together with its partners, including leading operators and retailers throughout Europe and North America, last year eRC processed device trade-ins at a rate of almost 20,000 per day, representing 2,255 tons of e-waste diverted from landfills. Each mobile device trade-in represents:

• A new revenue stream for operators to offset device subsidies.
• Instant in-store credit that enables immediate customer discounts on new devices or accessories.
• Increased customer satisfaction and a reduction in churn.
• A dependable supply of high-quality, affordable technology that can be resold across the globe, changing lives and bridging the digital divide.
• An opportunity to recapture precious and rare materials by extending the lifespan of wireless devices rather than creating new phones
• E-waste diverted from landfill and water resources.

“This major milestone demonstrates that operators are quickly learning about the tremendous power of eRecyclingCorps’ in-store trade-in program to offset surging device subsidy costs, improve customer satisfaction and meet sustainability goals,” said David Edmondson, CEO of eRC. “eRC’s rapid growth is a direct result of our commitment to working hand-in-hand with operators to develop tailored retail support programs that enhance the bottom line. By profitably driving a high volume of mobile device trade-ins, our operator-grade retail model is fundamentally changing how operators and consumers alike view the value of used devices.”

The 10 million devices collected via eRC’s in-store operator and retail programs are repaired to “like new” quality to meet strict standards for functionality. Devices are resold to  consumers in developed and emerging markets, where they offer consumers access to high quality mobile technology at lower costs, helping to bridge the digital divide.

eRC currently operates in ten countries and partners with five of the seven leading carriers in North America as well as several European operators (KPN, Belgacom and more) and more than 10,000 retailer locations worldwide. The company launched its first in-store operator program in 2009 with Sprint, whose Buyback program today boasts an impressive trade-in rate of more than 40 percent and has helped avoid more than $1B in costs while gaining recognition from Compass Intelligence as the top operator buyback program in the United States.

“In-store device trade-ins have become an integrated part of our sales process,” said Fared Adib, Senior Vice President of Product Development and Reverse Logistics at Sprint.  “Buyback is a huge benefit for our customers and for Sprint. It’s been good for our business and mitigates our impact on the environment by keeping old phones active and diverted from landfills.”

“As device lifecycles shrink and the quantity of retired wireless devices increases, the device trade-in market is primed for rapid expansion,” said Weston Henderek, Principal Analyst covering wireless services for the market research firm Current Analysis. “The increase in the number of device trade-in options and their convenience at the point of sale will also encourage consumers to trade in their devices more frequently.”

About eRecyclingCorps
eRecyclingCorps (eRC) is the world’s leading provider of operator-grade wireless device trade-in solutions. Founded in 2009 to provide a scalable model to repurpose and reuse perceptually obsolete devices, eRC partners with global wireless operators and retailers to provide instant, in-store trade-in credit. eRC renews and refurbishes wireless devices in  accordance with the R2/RIOS™ certification standards and is a founding member of the Device Renewal Forum (DRF). The devices are resold to consumers around the world, extending access to affordable, high-quality wireless technology in emerging markets. eRC completed more than seven million wireless device trade-ins worldwide in 2012. eRC operates in ten countries and partners with leading carriers including Sprint, Verizon and TELUS at more than 10,000 retail locations worldwide. For more information, please visit www.erecyclingcorps.com.

Media Contact
Katie Struble
Antenna Group for eRC
erc@antennagroup.com
(415) 977-1928

Paul Nolan
CC Group for eRC
erc@ccgrouppr.com
+44 7717 723 440

groSolar successfully completed installation of a 1.8MW solar project over the Camden, NJ waste water treatment plant.    The project is producing output at a rate of approximately 2.2 million kilowatt-hours of electricity per year, enough to meet the needs of more than 400 homes.    The number of EPC firms able to compete for this project was highly limited, given the challenges and sensitivity of building a solar project over this particular site.  groSolar was able to complete this project without interfering with normal plant operations.

Due to its complexity, the project has been nominated for the 2012 PV America East Photovoltaic Project of Distinction Award.

Read the full article here and see groSolar’s website for more details.

]]> http://www.sjfventures.com/grosolar-earns-accolades-over-camden-wwt-solar-project/feed 0 http://www.sjfventures.com/mediamath-early-leader-on-facebook-exchange http://www.sjfventures.com/mediamath-early-leader-on-facebook-exchange#comments Wed, 19 Sep 2012 18:26:09 +0000 Cody Nystrom http://www.sjfventures.com/?p=2182 MediaMath Clients Driving Higher Click-Throughs, Conversions and Brand Metrics Through Facebook Exchange Inventory

Global brands and agencies are seeing improved ad performance by leveraging MediaMath’s TerminalOne buying platform to access Facebook^® Exchange. MediaMath is one of the Facebook Preferred Marketing Developers given early access to inventory on the Facebook Exchange.

Early results from MediaMath’s campaigns show that out of 25 brands participating, almost all are exceeding their specific marketing objectives, which include incremental reach, higher engagement rates, and lower cost per acquisition.

The brands leveraging TerminalOne are able to manage their display advertising buying on both Facebook Exchange and other exchanges from a single platform, allowing marketers to optimize and attribute results across channels. A wide variety of advertisers, including those representing the financial industry, travel, telecommunications, luxury retail, CPG, and professional services are taking advantage of MediaMath’s expanded scope across display, mobile, and video.

“MediaMath is proud to be a leader in bringing rigorous quantitative analysis to media buying and we have been watching the performance of the Facebook Exchange with extreme scrutiny,” said MediaMath CEO Joe Zawadzki. “After extensive testing and analysis, we can now confidently say that campaigns run on Facebook Exchange media using MediaMath’s optimization have performed as well as or better than campaigns run on other leading media sources, and FBX can be a key component of any performance or brand advertising media plan.”

MediaMath clients are seeing common success themes with Facebook Exchange advertising which can be applied to new campaigns. National advertisers seeking to use a buying platform to increase online customer acquisition volume through Facebook, coupled with the ability to measure impact and connect results to marketing tactics in other channels should consider MediaMath’s TerminalOne platform, with seamless ability to rapidly generate creative, set up campaigns, launch, and measure results. In one case, Facebook Exchange accounted for nearly 40% of conversions within three weeks of launch, driving nearly 4x the conversion rate of non-Facebook media.

About MediaMath

MediaMath’s buying platform, TerminalOne, provides leading advertising agencies and over one thousand brands – including half of the Fortune 500 – with the technology and back-office services to drive transformative business results across display, video, mobile, and social channels. These channels include Google AdExchange, Yahoo! Right Media, Microsoft Ad Exchange, Facebook Exchange, The Rubicon Project, AppNexus, PubMatic and hundreds of premium publishers like NBC, Fox News, and Forbes. TerminalOne’s Open™ architecture integrates with hundreds of companies to provide a seamless media planning, data management, and performance optimization solution.

Headquartered in New York, with offices in 11 cities on three continents, MediaMath is a global leader in marketing technology. Forrester Research termed MediaMath a “category leader” in its 2012 Wave report and the company has been included in the INC. 500 Fastest Growing, and an AlwaysOn “OnMedia 100” winner multiple times.

To learn more, visit, www.mediamath.com

Facebook ® is a registered trademark of Facebook Inc.

July 17, 2012 – SJF Ventures announced today it has invested in BioSurplus, a company providing turnkey services for managing the entire life cycle of laboratory instruments in the life sciences industry. SJF’s investment completes BioSurplus’ $2.4 million Series A financing, which also includes KI Investment Holdings. The financing is being used to fund an East Coast expansion into Boston, and further expand the company’s service offerings.

BioSurplus designs and implements solutions for every stage of the laboratory equipment life cycle including buying and selling used laboratory equipment, equipment refurbishing, online auctions, inventory management software, and service & repair of existing assets.

“SJF Ventures is pleased to support BioSurplus’ growth and Boston expansion,” said David Griest, Managing Director at SJF Ventures. “The company is a market leader in an emerging sector of asset recovery, which fills a strategic position in our portfolio. As the first investment of our third fund, BioSurplus aligns perfectly with our focus on capital efficient, growth stage companies offering proven solutions.”

“Our oversubscribed Series A round and successful regional expansion illustrates that BioSurplus fills a very unique and underserved market need for used and refurbished lab equipment and related services,” said Preston “Cinco” Plumb, President and CEO. “We are delighted to partner with SJF Ventures and KI Investment Holdings, whose recent investments have put us months ahead of schedule for our Boston expansion and have positioned us for future growth.”

For the 11th consecutive year, SJF Ventures, with support from SJF Institute, conducted an annual Positive Impacts survey to assess the impact among SJF portfolio companies.   The 17 most active portfolio companies in SJF I and II were surveyed, which included collecting new data as part of SJF’s participation as a GIIRS (Global Impact Investing Rating System) Pioneer Fund.

The results of this survey data can be found in the  2012 SJF Positive Impacts Report.

“The team at SJF Ventures had to undergo federal background checks, submit fingerprints and provide 20 references each in order to obtain a license from the Small Business Administration for its new nationally focused impact investment fund, SJF Ventures III LP…” Read More

The Herald-Sun – Durham venture capital investment firm launches third fund

“From an initial investment in a wireless device recycling company to a stake in a brand of natural pizza products, SJF Ventures looks to make investments in growing companies that also have a positive impact…’  Read More

Bloomberg Businessweek - A Government Nod for Companies Doing Good

“For a dozen years, SJF Ventures has backed companies with the dual goals of delivering the hefty returns venture capitalists want and benefiting the environment or low-income communities. The Durham, N.C., venture firm has invested in companies such as eRecyclingCorps, a cell phone recycler that recently got a $35 million follow-on round led by Kleiner Perkins…”  Read More

Washington Post - SBA Chooses Firm with a Clean-tech Profile as its Newest Investment Partner

“A North Carolina venture firm will be the Small Business Administration’s first national partner for the new Impact Investment program that aims to increase investment to clean energy and education start-ups. SJF Ventures, which has offices in New York, San Francisco and Durham, N.C., announced Thursday that it has already raised the bulk of the $75 million the firm plans to funnel into clean-tech, software as a service and food-safety businesses…”  Read More

Read more press at the following sites:

Entrepreneur Magazine  

SocialFunds.com 

Environmental Finance 

THE STREET

Smart Energy News 

Sustainable Business 

Austin Business Journal 

Raleigh News and Observer - 

Salt Lake Tribune 

Dallas Morning News

New Mexico Business Weekly

Triple Pundit

Triangle Business Journal

Rochester Business Journal

Colorado Springs Business Journal