In June of 2019, THRIVE’s Funding and Financing Strategy  (FFS) was established. The goal of MiHIA’s THRIVE FFS is to enable and sustain the successful implementation of the THRIVE portfolio of interventions and achieve the projected beneficial impact on both health and community economic success for the region. The work underway will:

  1. Build out the master plan or strategy for funding and financing.
  2. Implement high readiness Phase I and Phase II THRIVE interventions while staging implementation to the entire THRIVE portfolio. (Phase I is currently underway, and Phase II will launch in mid-2020). 
  3. Provide a financial sustainability plan for the full functioning of the THRIVE portfolio.

To assist in FFS design and implementation, our region is partnering with Los Angeles based Avivar Capital (Avitar). “Avivar is a U.S.-based SEC-registered investment advisor focused exclusively on assisting institutional, public, and private clients in the design, development, and execution of impact investing strategies, portfolios, and funds.” Impact investments seek to deliver social and environmental benefits alongside a financial return. 

Avivar believes, “Impact investing can harness the power of capital markets to advance a more inclusive, healthy, and sustainable future.” Avivar will work together with THRIVE, MiHIA and GLBRA staff to implement and sustain a Funding and Financing Strategy that meets THRIVE’s projected impact. “Avivar often works at the intersection of health and community development. We are thrilled to work with the community on fulfilling its vision of a healthy and prosperous Great Lakes Bay Region,” said Avivar co-founder and managing director, Lisa Richter. 

Why partner with an agency? Partnering with Avivar brings decades of experience in supporting communities to sustain and scale health-promoting activities. “We are excited to collaborate with Avivar through Phases I and II. Their expert industry insight will help to support the 34 interventions that are a part of the THRIVE portfolio and beyond,” said CEO of Michigan Health Improvement Alliance, Beth Roszatycki

Why Avivar Capital? Avivar supports clients in mobilizing investment capital to amplify the positive changes they are achieving through grantmaking, convening, and advocacy.  They bring expertise in structuring debt and equity investments that use the funding streams such as health care reimbursements and other public supports such as the New Markets Tax Credit.  The firm’s professionals bring domestic and international experience to serve as investment strategists, deal and fund structures, asset managers, due diligence providers, coaches, trainers, market researchers, facilitators, and evaluators. Their four-tier model works with clients along all stages of the impact investment lifecycle, focusing on Planning, Policies, Procedures, and Portfolio Management, incorporating Training and Education for stakeholders at each step of the way.

Over the next two years, Avivar will research the full range of funding streams and financing mechanisms that can support THRIVE’s 34 interventions. They will also work with staff to design and implement a portfolio of impact investment opportunities that reinforce those interventions by attracting investment capital from regional and national investors. This funding and financing capacity can be thought of as a shared utility in the community which goes beyond grants to help address the common and documented barriers to progress.  These barriers to progress often limit the capacity of community initiatives to advance health, even those with strong collective impact frameworks. To learn more about Avivar and meet the team, visit them here: www.avivarcapital.com