Original source: Triodos Investment Management
Triodos Investment Management, through its Hivos-Triodos Fund, and AlphaMundi Group have launched a USD 21 million impact investing fund targeting sustainable agriculture and renewable energy businesses in East Africa.
The AlphaJiri Fund made its first investment in SunCulture, a Kenya-based technology company and a leader in solar water pumps and irrigation solutions for smallholder farmers.
The fund provides debt, mezzanine debt and equity investments for small and medium-sized enterprises (SMEs), with an initial focus on East Africa. The fund is managed by AlphaMundi’s local team in Nairobi, Kenya; Triodos Investment Management provides support on governance and operations. Stiftung Abendrot, a Swiss sustainable pension fund, is also an anchor investor in the fund.
“There’s a lot of SMEs that cannot get a loan from local financial markets because they are still at too early a stage to satisfy collateral requirements from local banks. Impact investing vehicles like AlphaJiri help address this funding gap and scale up entrepreneurial solutions for the Sustainable Development Goals” says Mehboob Madhavji, co-founder of the AlphaMundi Group.
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