Rick Larson, NC Program Director

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www.ncifund.org ___________________________ ARD
I Leadership Summit Financing the Creative
Economy 8/11/08

• Rick Larson, NC Program Director
• Natural Capital Investment Fund l P.O. Box 271 l
  Chapel Hill, NC 27514
• Phone [phone], ext. 113 l Cell (919)
  949-4724 l rlarson_at_conservationfund.org

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Natural Capital Investment Fund

• Affiliate of The Conservation Fund, national land
  and water conservation organization based in
  Alexandria, VA dual mission of environmental
  protection and economic development
• 3 M invested to date in 22 businesses in North
  Carolina and West Virginia 0 losses
• Objectives
• Increase access to debt and equity financing for
  sustainable natural-resource based businesses
• Create/retain long-term, quality jobs
• Support creation of vibrant, sustainable regional
  economies

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NCIF Sectors

• Natural/organic value-added Agriculture
• Renewable Energy Energy Efficiency
• Recycling
• Heritage and Eco-Tourism
• Value-Added Wood Forestry Products
• Environmental Green Enabling Technologies
• Green Building Products/Services

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North Carolina Funding Sources NCIF fills a gap
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NCIF Investment Approach

• Start-up to expansion stage natural
  resource-based enterprises with growth job
  creation potential
• Typical investment range 35-250K
• Subordinated Debt or Equity to enable senior
  lenders to participate
• Technical assistance and partnerships

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NCIF Portfolio CompaniesValue-added
agriculture/botanicals

• Homeopathic drug manufacturer sourcing
  ingredients from WV farms
• Total financing 868,000 (NCIF 310,000)
• NCIF and WV EDA financed working capital and
  plant expansion
• 13 new positions

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NCIF Portfolio CompaniesRenewable Energy

• Piedmont Biofuels Cooperative
• Biodiesel manufacturer
• Expand waste grease collection
• NCIF provided 15,000 in subordinated debt
• Self-Help Ventures Fund provided 29,000 in
  senior debt

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NCIF Portfolio CompaniesForest products example

• ImageTree
• Provider of integrated information and analysis
  for managing forests
• Equity - 8.75 M Series B
• Round (NCIF 250,000)
• Financed sales marketing, and completion of the
  technology build-out
• NCIF sector expertise useful with marketing