Agricultural Cooperative Development International/Volunteers in Overseas Cooperative Assistance (ACDI/VOCA), a US-based nonprofit that implements “sustainable international development” projects related to supporting entrepreneurs in developing nations, recently registered a new subsidiary, AV Ventures LLC, which is designed to build “impact” funds that invest in agricultural small and medium-sized enterprises (SMEs) in an effort to promote “more inclusive, responsible supply chains.” Its pilot fund, AV Ventures Ghana LLC, is slated to provide investments ranging from USD 100,000 to USD 1 million coupled with technical assistance for SMEs in Ghana’s poultry value chain. AV Ventures LLC has arranged for the fund to receive undisclosed amounts of financing from the United States Department of Agriculture’s Ghana Poultry Program and loan funds from the Overseas Private Investment Corporation (OPIC), a development finance institution backed by the US government. As of 2016, ACDI/VOCA works in 33 countries, and as of 2015 it reports total unaudited assets of USD 17 million.
By Michelle Dold, Research Associate
About Agricultural Cooperative Development International/Volunteers in Overseas Cooperative Assistance (ACDI/VOCA)
Founded in 1963, Agricultural Cooperative Development International/Volunteers in Overseas Cooperative Assistance (ACDI/VOCA) is a US-based nonprofit that implements “international development” projects related to providing capital for and building the capacity of entrepreneurs in 33 countries as of 2016. It focuses primarily on promoting financial inclusion, supporting small agricultural businesses, providing technical assistance and business advisory services, and strengthening institutions in the countries in which it works. Additionally, ACDI/VOCA supports a network of financial institutions focused on serving SMEs that offer individual and group loans, banking services and equity investment to a combined client base of 180,000. As of 2016, it reports 1,300 employees and as of December 2015 it reports total unaudited assets of USD 17 million.
Sources and Additional Information:
[1] ACDI/VOCA Press Release: “ACDI/VOCA Launches New Subsidiary AV Ventures to Catalyze Finance”
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.
Similar Posts:
- MICROCAPITAL BRIEF: FINCA Ventures Places Equity in Agtech CassVita, Seeking to Boost Incomes from Farming Cassava in Cameroon
- MICROCAPITAL BRIEF: Al-Qutaibi Funding Renewable Energy Products, Climate Adaptation Strategies for SMEs, Farmers in Yemen in Collaboration with USAID
- MICROCAPITAL BRIEF: Peruvian Fintech Lender Prestamype Concludes $5m Equity Funding Round Led by Acumen Subsidiary ALIVE Ventures, Oikocredit
- MICROCAPITAL BRIEF: Maquita Cushunchic Borrowing $2m from DID Aequitas Fund for Microfinance, Small-enterprise Lending in Ecuador
- MICROFINANCE EVENT: Enlit Africa Forum on Energy, Power and Water; May 16-18, 2023; Cape Town, South Africa