<p>KKR has partered with social sector development firm Impact Investment Exchange Asia (IIX) to support the launch of East Bali Cashews (EBC), based in the rural village of Ban in Bali’s Karangasem District.</p> <p>EBC, founded in 2012, is the first large-scale cashew processing facility in Bali and uses sustainable, eco-friendly business practices to process unshelled cashews, package and sell them under the brand name Alamente. EBC creates employment for women from farmer households who are mostly illiterate and have never had formal, salaried employment.</p> <p>KKR and IIX worked with EBC as it was preparing to expand its capacity by providing technical assistance in developing EBC’s financial model and business plan, assessing the appropriate capital structure and liquidity requirements for the business and developing an investment structure for new funds.</p> <p>IIX coordinated the overall project and its non-for-profit sister organisation, Shujog, developed a social impact assessment. The KKR team included two private equity professionals from the Singapore office, and another from Sydney.</p> <p>As a result of this effort, East Bali Cashews raised $900,000 in new financing. Now, it is building a second factory, purchasing 16 additional machines, tripling the size of its warehouse and hiring 100 new employees.</p> <p>IIX managing director Robert Kraybill, said, “Many social enterprises in Asia have achieved proof of concept, but need assistance to scale. IIX and Shujog look to provide these resources. KKR joining this effort was invaluable in that it brought world-class investment expertise to our team, enhancing our ability to provide the support EBC needed at the right time. That support has now been leveraged to raise nearly $1m, which will positively impact the lives of hundreds.”</p> <p> </p>