Thoughtful Thursdays: From PwC to $50M Impact Investing: Cole Shephard's Journey to Sustainable Coffee Empire
Description
Cole is the Founding Partner of Legacy Group, a leading alternative investment firm with over $50M in assets under management.They focus on profitable investment opportunities with high social and environmental impact in the US and Latin America. Their flagship portfolio company, Green Coffee Company (GCC), is Colombia's #1 largest coffee producer, with 7.2M+ coffee trees planted on 6,372 acres.Cole and his team at GCC aim to grow the company to be the world's largest producer of arabica coffee. They've raised $35M+ from 275+ high-net-worth investors to fund Green Coffee Company operations in Medellin, Colombia.Before forming Legacy Group, Cole spent close to a decade at PwC (the second-largest Professional services network in the world and one of the Big Four accounting firms), working in accounting, advisory, M&A, and consulting across the United States, Bermuda, Hong Kong, and Beijing.He is an expert in emerging markets and understands the capital movements of high-net-worth investors. He is currently based in Medellin, Colombia.
Quick recap
Green Coffee Company's Growth and Michael's Coffee Journey
Cole, the founder and chairman of Green Coffee Company, the largest coffee producer in Colombia, shared the company's growth story from a small investment to becoming a significant player in the industry. A coffee enthusiast, Michael shared his journey of appreciating coffee's flavors and aromas after giving up lactose-containing cream and sugar. Cole explained his interest in the coffee industry, which started after seeing a potential business opportunity in Colombia following his move from Hong Kong. He shared how the company initially focused on high-net-worth investors before expanding with a Professional management team, leading to significant growth.
Curiosity, Hard Work, and Success Stories
Michael emphasized the importance of curiosity, hard work, and seizing opportunities in the consulting field. He shared his delight in hearing success stories, particularly in regions where success is not as expected. He also highlighted the benefits of such achievements for the individual, the local community, and the organization. Michael then asked Cole about his experience navigating different jurisdictions and how he convinced authorities to allow his organization to grow.
Cole's Experiences and Strategies in Emerging Markets
Cole shared his experiences working in emerging markets, emphasizing the importance of being present on the ground and understanding the unique challenges of each market. He discussed his approach to navigating these challenges, which involved using his capital to build teams and identify opportunities, such as trade flows between Asia and Latin America. Michael highlighted the pioneering nature of Cole's work, noting that many of the strategies and platforms he established have yet to be replicated elsewhere. Both agreed on the need for adaptability, resilience, and a willingness to learn from failures to succeed in emerging markets.
Expanding International Trade and Partnerships
Michael and Cole discussed the opportunities and challenges in expanding international trade and developing new business partnerships. Michael emphasized the importance of being bold and capitalizing on new opportunities despite potential obstacles. He also highlighted the significance of risk-taking in improving the world. Cole agreed with Michael's views and was asked to share his predictions for the future of their industry, particularly in Colombia and internationally.
Green Coffee Company Fundraising and Industry Trends
Cole discussed the company's successful fundraising efforts for the Green Coffee Company, highlighting the significant amount of capital raised in the US and its potential to build a dominant industry in Colombia. He noted the trend of high-net-worth investors seeking international exposure, particularly in Latin America, due to its high return profiles and acceptable risks.
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