Ceniarth

Our Portfolio

The Ceniarth portfolio consists of the assets of the Isenberg Family Charitable Foundation, as well as other unrestricted family assets. Our total 2025 AUM of $837 million is an increase of ~11% over 2024 ($749M). This is the result of continued growth in our legacy public equity holdings, mark-ups in select finance-first, private impact investments, as well as modest growth and relatively limited write-offs in the impact-first portfolio. While the portfolio continues to hold a significant number of legacy, finance-first impact investments, all of our new investments in 2025 have been classified as impact-first.

Total Portfolio

$837M

Assets Under Management

125

Fund Investments

62

Direct Investments

38%

Impact-First

New Investments in 2025

$63M

Total Commitments

16

Fund Investments

23

Direct Investments

100%

Impact-First

A Growing Portfolio of Investments

The Ceniarth portfolio consists of the assets of the Isenberg Family Charitable Foundation, as well as other unrestricted family assets. We invest globally in both funds, as well as direct investments. Our mission to deploy the entirety of our capital in an impact-first manner applies to the entire portfolio. This goal is a work in progress as we realign legacy and finance-first impact investments over time. All of our new commitments in 2025 were classified as impact-first

See our full portfolio

Total Impact-First Portfolio

$320,223,801

Market Value by Program Area

30% $96,745,971 Financial Inclusion
14% $43,132,601 Agriculture
13% $42,088,401 SME Finance
13% $40,124,132 Impact Fixed Income
10% $31,383,439 Real Estate & Real Assets
7% $23,923,704 Community Development
5% $15,754,157 Other
4% $13,134,827 Energy Access
2% $4,798,480 Health
1% $3,388,084 Ecosystem Building
1% $2,750,000 Education

New Investments in 2025

$63,411,378

Market Value by Program Area

$3,459,628
Gawa Kuali Fund
$3,000,000
CIM Emerging Markets Fund
$2,537,156
Salad Money – 2Q25
$2,000,000
Lendable Opportunities Fund B – IFCF
$2,000,000
MCE – 2Q24 (Note)
$2,000,000
Balloon Ventures – 3Q25
$1,500,000
Avanza Solido (Kiva)
$1,000,000
Balloon Ventures – Bridge 1Q25
$1,000,000
Balloon Ventures – Standalone 3Q25
$3,000,000
Alder Point Capital
$3,000,000
Mad Capital Perennial Fund II
$2,000,000
Valency (Blue Earth)
$2,000,000
Kuli Kuli – 3Q25
$1,500,000
Beyond Good – 2Q25
$1,000,000
NESsT Lirio Fund
$1,000,000
Dirt Capital 2023
$900,000
East Africa Foods – WFP 3Q25
$750,000
Upendo Honey – 2Q25
$500,000
EcoEnterprises IV
$500,000
Acceso – 2Q25
$500,000
East Africa Foods – WFP 2Q25
$500,000
Amazonas (MCE) – 4Q25
$6,000,000
Blue Earth Global Impact Credit Fund
$1,500,000
Lendable Transportation and Energy Fund (Mezzanine)
$1,500,000
Lendable Transportation and Energy Fund (Senior)
$1,000,000
Azure Source Capital – 1Q25
$400,000
SVC Stays Ecolodge
$5,000,000
ROC USA Master Participation
$381,000
ROC ICS Sonora Estates (Shared Capital)
$2,000,000
Energy Catalyst Fund I
$1,692,495
CrossBoundary Energy Access – Bridge 1Q25
$150,000
Low Carbon Hub
$1,500,000
Iungo Capital – 4Q25
$1,000,000
Open Road Notes – 2Q25
$1,000,000
Iungo Capital – Standalone 4Q25
$1,991,100
Social Investment Scotland CF
$1,000,000
Apis & Heritage Legacy Fund II
$1,400,000
Fos Feminista & Innova
$250,000
Food4Education – 3Q25

Example Investments in Our Sectors

  • Agriculture

  • Community Development

  • Ecosystem Building

  • Energy Access

  • Financial Inclusion

  • Impact Fixed Income

  • Real Estate & Housing

  • SME Finance