Impact investment readiness in early-stage social agribusiness: a process case in the Colombian Amazon

Purpose This paper aims to examine how early-stage social agribusiness ventures operating in fragile rural contexts engage with impact investors to achieve investment readiness to secure funding. It explores the relational, contextual and strategic factors shaping fundraising processes in social ventures pursuing both financial and social goals. Design/methodology/approach The study employs a process-oriented single-case design that traces the evolution of a multi-year investment engagement between a social agribusiness in the Colombian Amazon and an international impact investor. Data were collected through interviews, field visits, archival materials and follow-up conversations. The analysis follows an abductive logic combining process tracing with theoretical iteration. Findings The study identifies five key factors influencing investment readiness and funding outcomes: (1) embedded entrepreneurial experience; (2) mutual learning and adaptation; (3) alignment between venture needs and fund structure (investor fit); (4) relational trust in fragile contexts and (5) the influence of internal fund dynamics. These elements interact to shape how social ventures mobilize capital under complex social, geographic and institutional constraints. Research limitations/implications While the findings are not statistically generalizable, they offer empirically grounded propositions for future comparative and quantitative studies on social venture financing. Originality/value This study advances the literature on social entrepreneurship, impact investing and agribusiness finance by analyzing the mobilization of impact capital by early-stage social ventures in under-institutionalized settings within an emerging country. The findings provide new theoretical insights applicable to emerging economies and developing countries, particularly in contexts where rural enterprises face multiple constraints.