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Ferd’s Social Entrepreneurs

- or How to Make a Difference

Johan H. Andresen
American Chamber of Commerce, March 26 2009

Ferd’s Business Areas

Group
Executive Board

Business areas

Ferd Ferd Ferd Ferd Ferd
Capital Invest External Real Estate Venture
Management

Investments • Elopak (100%) • Norwegian • Hedge funds • Real Estate • Direct
• Swix Sport equities • Mutual funds Development investments
(100%) • Swedish • Private Equity • Real Estate • Energy
• Aibel (~37%) equities funds Investments Ventures
• Kongsberg • Herkules • Real Estate Fund I, II
Automotive Private Equity Management and III
(~17%) Fund I and II • Energy
• Herkules Ventures AS
Capital (40%) (25%)

Ferd – January 2008

• Industrial and financial investment company

• Turnover: ca. NOK 24 billion*

• Employees: ca. 20,000*
*Incl. 50+% owned companies
Value-adjusted equity Return on capital%
NOK mrd.

18 30 %
28 % 15,4
16
25 %
14 12,5 22 %
12 10,9 20 %
10
8,3 15 % 15 %
8 7,4
12 %
6 10 %
4
5%
2
0 0%
2003 2004 2005 2006 2007

4

Corporate mission, vision and values

VISION
We will create enduring value and
Operational make a lasting impression
Corporate
values values

Expertise Credibility

Networking POSITION Spirit of
An owner and partner who seeks new Adventure
avenues for turning bright ideas into
Capital sound business
Teamwork

Long-term
view
MISSION
Ferd will focus on being a pro-active
long-term owner of strong companies
with international potential as well as
operating as a financial investor,
making use of its core expertise in
finance, business development and
networking

5

Social Entrepreneurs – Who are they?

• People with innovative solutions to society’s most
pressing social problems

• Business methods for a ”double bottom line”
– A social and a financial bottom line

• A desire to change perceptions and thereby changing
entire systems

• Visionaries and realists – implementation of the vision
before anything else

6

International Social Entrepreneurs
- some examples

• Gustave Moynier & Henri Dunant (Red Cross)

• Robert Baden-Powell (The Scout movement)

• Eglantyne Jebb & Dorothy Buxton (Save the Children)

• Mary Gordon (developed Roots of Empathy, ROE, a class-room based
development program for children as young as three years old, Canada, spread

over great parts of the world)

• Kurt Hahn (founder of Atlantic College, Outward Bound, etc.)

• Muhammad Yunus (Grameen Bank)

7

Norwegian Social entrepreneurs
- some examples

• Natteravnene Dag Halgard og Gudmund
Johnsen, Oslo Police Dept.
• =Oslo Vibeke Omberg
• ER–bedrift Lise Aasmundstad and
Wenche Wærner
• Gatejuristen Cathrine Moksness, Kirkens
Bymisjon and Fransiscushjelpen
• Right to Play Johann Olav Koss
• Fretex Salvation Army
• Mother Courage Bitten Schei
• Forskerfabrikken Hanne Finstad
• Ungt Entreprenørskap Several ministries and organisations
• Civita NHO og Norwegian Shipowners
Association
• NMI Ferd & Norfund

8

Why do we choose Social Entrepreneurs?

• A further possibility for Ferd to move towards our
vision and to live up to our values

• Ferd’s human resources and expertise are
particularly effective for Social Entrepreneurs, and we
may therefore have stronger impact than other
investors
• This could enable my successors to see new
opportunities with, and effects of, their ownership

Ferd’s vision:
”We will create enduring value and make a lasting impression”

9

What is Ferd’s contribution?

Exactly the same as we can and do contribute to other companies
and organisations:

Our operational values;

– Expertise
• Strategy
• Business development
• Finance

– Networking
• Local & international, especially Northern Europa
• Covers many industries and services
• Private and public sector

– Capital
• Competent and demanding
• Active ownership

10

Which “sectors” to focus on

• Children and Youth
– Projects which creates a new future – instead of simply
repairing a past

• Education & Empowerment
– ”Education is the most powerful weapon you can use to change the
world” – Nelson Mandela

”They (The Social Entrepreneurs) build or work in organisations which
enables people, especially children and youth to develop and expand their
ideas, and work towards their own goals”” (Extract JHA whitepaper)

11

Criteria for selecting our involvement

• A Social Entrepreneur/team ”with Ferd’s values”
• May really make a difference
• May be scaled and preferably exported
• Measurable results/savings/impact
• Ferd can contribute with expertise and network
• Ferd employees are willing to use time on the project
• Ferd can bring in other partners (public or private)

12

Examples of what we do not want to get involved in:
• Projects which clearly are public responsibilities:
– Unless we can contribute with creative solutions which ensures public challenges a stronger focus,
making the government to take responsibility (ER-bedrift)

• Cases which obviously others should take responsibility for:
– (Example: A legal firm & Gatejuristen)

• Large established organisations (Example: Save the Children)
– Unless these launch independent projects (Example: Kirkens Bymisjon and Gatejuristen)

• Established cultural activities (Example: music festivals, museums, etc)

• Medical research
– Unless we already are involved, i.e. Joh. H. Andresens Medisinske Fond or the project can be
defined as pioneering)

• Micro finance beyond present involvements (NMI and Kolibri Kapital)

13

Geographic focus area

• Norway
• International if:

– The concept is known by us (JA-YE Europe)

– The social entrepreneur is Norwegian and/or is
well known by us (Svein Wilhelmsen in Basecamp Explorer)

– If we can scale a concept from Norway to other
countries (”Enterprise Without Borders” – A UE Norge export article)

14

Ferd’s Social Entrepreneurs: Capital & Mandate

• 8-12 running engagements in year 5 (2013)

• Beyond year 5:
– 1-3 new engagemens per year
– exit from 1-3 engagements per year

• Yearly investments of up to NOK 10 mill. over a
5 year periode (Including current engagements)

• No engagement exceeding 20 % of total ”invested” capital

15

Ferd’s Social entrepreneurs (1)
• Junior Achievement - Young Enterprise NOK 1 million/year

– Contribution to EM, 10 year anniversary etc. NOK 2 mill.
– Guarantee (EU’s contribution to JA-YE Europe) EUR 100,000/year
– Responsible: JHA, Martine, Annar (Oslo),
Bjørn, (Oppland)

• ER–Bedrift - Lise Aasmundstad
– Student company (UE program) for LAR pasients
– Guaranteed running expenses for 3 years NOK 1 million/year
– Responsible: JHA, Martine

• Asfalt – Gatemagasinet i Rogaland
NOK 500,000/year
– Street magazine to be launched in April 2009
– Maggi Hatløy v/Kirkens Bymisjon Stavanger
– Responsible: Kjetil Sævareid, Aibel

16

Ferd’s Social Entrepreneurs (2)
• Forskerfabrikken - Hanne S. Finstad NOK 800,000/year
– Courses and training in science
(exercises and experiment) for students
and teachers
– 3 year funding (2009–2011)
– Responsible: Ole Petter Trovaag, CTO, Elopak

• Chandelao, India - Basecamp Explorer USD 90,000
– Artisan Workshop for women + school bus
– Responsible: Kristin G. Andresen

• NMI – Norwegian Microfinance Initiative NOK 75 mill.
– NOK 600 mill fond (Global and Frontier)
launched in 2008
– Partners: Norfund, Storebrand, Vital and KLP
– Responsible: JHA

17

Social Entrepreneurs
– some unanswered questions

• ”Deal-flow”/supply of projects in Norway
– Is it large enough and good enough?
– Are there enough social entrepreneurs with business
sense?
– Will a sufficent number of social projects be scaleable?
– Can international ideas be implemented in Norway?

• ”Choice of Business and Reaction of Authorities”
– If a lot of the social entrepreneurs choose services in the
public domain as their focus, will the government
contribute, take over or compete with the company when it
shows viability and results?

18

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