NWAF Makes Mission Investment in Noribachi, Host to LA Mayor’s 2016 State of the City Address
One of the Foundation’s innovative mission-related investments includes Noribachi, a leading custom manufacturer of controllable LED lighting.
The debt and equity investment is a co-investment alongside HCAP Partners, a key partner in the Foundation’s mission-related investment strategy.
From 2014–2016 the Foundation committed more than $20 million to its mission-related investment portfolio, which provides a social impact and a financial return. The Noribachi investment aligns with NWAF’s grantmaking strategy to advance good jobs and financial capability.
Noribachi is a leader in social impact. Its facility is located in a low- and moderate-income (LMI) zone where 65% of its workforce is LMI and nearly three quarters is also minority. It currently has 138 employees, almost half of whom have been hired since NWAF’s investment.
The culture fosters broad-based ownership, job training, and promoting from within. All of its full-time employees are eligible for stock options. Noribachi offers a minimum wage of $15/hour for all employees.
“Noribachi’s social impact and strong returns inspired us to make a deep investment from our mission-related portfolio.”
— Amy Jensen, NWAF’s investment director