Avivar Capital Creates Impact and Opportunity

Avivar Capital manages impact investment portfolios and develops impact-driven funds and families of funds on behalf of our clients.

Expertise in Food Systems and Food Retail

Avivar Capital has expertise in developing and managing food system and food retail impact investing strategies.


An Experienced Team of Advisors

Avivar Capital has nearly 90 years of experience in financial management, impact investing, and economic development.

What we do

Avivar Capital (Avivar) is a U.S.-based SEC registered investment advisory firm focused on managing impact investment portfolios and developing impact-driven funds and families of funds on behalf of clients. Avivar assists foundations, banks and other institutional investors in the design and execution of impact investing strategy for financial, social and environmental return. The firm’s professionals bring domestic and international experience to serve as investment strategists, deal and fund structurers, asset managers, due diligence providers, coaches, trainers, market researchers, facilitators, and evaluators.

Portfolio Management & Advisory Services

Avivar’s portfolio management practice provides impact investing portfolio management solutions for institutional and private clients. Services range from a fully outsourced impact investing CIO model to organizationally integrated services supporting targeted aspects of the investment process (sourcing, due diligence, structuring, closing, monitoring, etc.). Avivar’s advisory practice covers a range of client impact investing needs, from strategy design to implementation, evaluation and review. Advisory client relationships begin with dialogue to understand an organization or family’s mission, social and/or environmental mandate; financial, program and geographic priorities; human and financial resources; organizational design; existing partnerships; and other matters important to how the entity advances its work. Avivar is also a leading provider of impact investing training and coaching services. We develop customized training for board, staff, donors, clients and/or partners of individual institutions, as well as the broader field including philanthropies, health systems and banks.

Fund Development & Syndication

Avivar’s fund development and syndication practice works with clients to develop impact investment funds and families of funds that coordinate the range of capital necessary to build healthy, vibrant and sustainable communities or catalytic sectors. We structure, coordinate and manage institutional quality funds and/or investment vehicles that aggregate capital at the scale at which institutional investors need to deploy it while retaining the ability to redeploy that capital in communities or sectors at the scale at which those entities can absorb it.

Meet our Team


Tina N. Castro, CFA

Tina N. Castro, CFA

Managing Partner

Tina is a Managing Partner and co-founder of Avivar Capital, bringing over 15 years of experience in the fields of finance and investment management. Tina co-leads the firm’s overall business activities and serves as an impact investment advisor to Avivar’s clients providing guidance on the development and execution of impact investing portfolios and funds.

Lisa Richter

Lisa Richter

Managing Partner

Lisa Richter is a Managing Partner and co-founder of Avivar Capital. Lisa co-leads Avivar’s overall business activities, bringing over two decades of fund management and investing experience spanning asset classes, return expectations, geographies and issue areas, and frequently incorporating place-based or sector focus to increase equitable access to opportunity.

Contact us to learn how Avivar Capital can help your organization.


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