Banorte Pioneering Institution in Impact Investing in Mexico, Participates as a Founding Partner in TONIIC Mexico

Dec 15, 2011 2:15 PM ET
Campaign: Valor Ambiental
Picture 1.png

(3BL Media / theCSRfeed) - December 15, 2011 - Impact investing is the investment strategy, aimed at creating social and/or environmental benefits, as well as, a financial performance. Impact investing differs from charity, and examples are, renewable energy, sustainable agriculture, low-income housing, recycling, among others.

For Banorte, as an institution committed to social responsibility is important to support initiatives that aim at consolidating the impact investing in Mexico, through which it promotes investment and development that benefits society at large.   As Banorte, New Ventures Mexico, U.S. Mexico Foundation and Angel Ventures Mexico participate as Founding Partners. Other members of this exclusive network are AVINA, Social Promoter Mexico, Adobe Capital, Spectron, and Halloran Philanthropies.   Some facts about TONIIC: 

• More than 250 investment opportunities were referred to TONIIC in its first year.

• So far it has 29 members from 5 countries.

• TONIIC represents more than $100 million USD capital investment

• 12 investments over $3 million USD available for some of it

• 10 companies are presented monthly to TONIIC U.S. investors.

TONIIC was founded in late 2010 in San Francisco CA with the support of important partners such as Legacy Works, RSF Social Finance, Agora Partnerships, Global Impact Investing Network (Giina) and Unresonable Institute, among others. In less than a year created TONIIC USA, Europe and now TONIIC Mexico, soon TONIIC United Kingdom, Brazil and India.   Grupo Financiero Banorte (“GFNorte”) is one of the leading financial institutions in Mexico. After the merger with Ixe, it has a network of more than 1,300 branches, over 6,200 ATMs and more than 73,000 point of sale terminals (POSs). GFNorte offers banking services, premium banking, Wholesale banking, and through its correspondent agreements with Telecomm-Telegraph and 7-Eleven Mexico, to more than 9.1 million clients and almost 8 million through its subsidiaries that provide a full range of banking, brokerage services, insurance, asset management, retirement savings fund, leasing, factoring and warehousing. GFNorte also has presence in the US Hispanic market through the Texas based Inter National Bank, and the remittance companies Motran and Uniteller located in California and New Jersey, respectively.   BAN19620