MICROCAPITAL BRIEF: Incofin’s agRIF Raises $27m for Financial Inclusion in Agriculture from Investors Including AXA, KBC, Korys, Invest in Visions, MRBB

Belgium’s Incofin Investment Management recently informed MicroCapital that its agRIF, the successor to the Rural Impulse Funds I and II, has raised USD 27 million in unspecified portions from multiple investors, bringing its size to USD 140 million. The new commitments are from mainstream investors, such as France’s AXA Investment Managers and Belgium’s KBC Pensioenfunds, and those focused on ecological and social goals, such as Belgium’s Korys; Germany’s Invest in Visions; and Maatschappij voor de Roerend Bezit van de Boerenbond (MRBB), an affiliate of the Belgian Farmers Union.

Marc Wittemans, the CEO of MRBB, said his organization “is convinced of the competence and integrity of Incofin…to achieve a sustainable social and financial return.”

Launched in 2015, agRIF invests equity and debt in financial intermediaries serving agricultural producers and processors as well as other rural microenterprises in Africa, Asia and Latin America. As of 2016, Incofin manages assets worth USD 858 million through the following funds: Incofin CVSO, Impulse Microfinance Investment Fund, Fairtrade Access Fund, Rural Impulse Funds I and II, VDK Loan Portfolio, The Belgian Investment Company account, Volksvermogen, agRIF and Invest in Visions.

Sources and Additional Resources

Information provided directly to MicroCapital by Incofin




Invest in Visions

Bloomberg profile on MRBB

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