ImpactAlpha, January 27 – Seattle-based Upaya Social Ventures invests in small and growing businesses creating dignified jobs for underserved Indians. It closed four convertible notes in late 2020, including organic food producer ONganic Foods; Bastar se Bazaar Tak, a food producer supporting tribal forest farmers; artisan marketplace Shoegaro Fashions; and waste management company Hasiru Dala Innovations, which supports informal waste pickers.
Upaya made nine investments in 2020 through a $1 million pool of recoverable grants from foundation partners (see, “Upaya uses recoverable grants to invest in two Indian agribusinesses”). The impact fund is planning to launch a second, larger pool this year.
The organization also provided pandemic relief financing to portfolio companies that committed to retaining jobs (see, “How creative financing structures can help companies preserve jobs and weather the pandemic”).
