The following microfinance investment funds are profiled in this brief:

Hivos-Triodos Fund (HTF)

https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Hivos-Triodos+Fund+%28HTF%29

Incofin Rural Impulse Fund (RIF)

https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Incofin+Rural+Impulse+Fund+%28RIF%29

Incofin VDK MFI Loan Portfolio

https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Incofin+VDK+MFI+Loan+Portfolio

ACCION Latin America Bridge Fund (LABF)

https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=ACCION+Latin+America+Bridge+Fund+%28LABF%29

Hivos-Triodos Fund (HTF)

Overview

The Hivos-Triodos Fund (HTF) is a microfinance investment vehicle, which mobilizes capital for microfinance institutions (MFIs).

Description

The Hivos-Triodos Fund (HTF) was created in 1994 through a joint partnership between Triodos Bank, a private bank of the Netherlands investing in social investment, and the Humanist Institute for Development Cooperation (Hivos), a non-government organization (NGO) also based in the Netherlands.

Microfinance Information Exchange (MIX) Profile

http://mixmarket.org/funders/htf

Organization’s Website

http://www.triodos.com/com/international_funds/microfinance/spec_microfinance_funds/hivos_triodos_fund/

Just the Facts

Country of Incorporation: The Netherlands
Year Founded: 1994
Legal Status: Foundation
Fund Assets (as of day/month/year): USD 63.3 million (as of 31/December/2008)
Fund Assets Allocated to MFI Investment (as of day/month/year): USD 61 million (as of 31/December/2008)
Number of Microfinance Fund Investments (as of day/month/year): 39 (as of 31/December/2008)
Area of Operation: Global
Participant(s)/Backer(s)/Investor(s): Humanist Institute for Development Cooperation (Hivos), Triodos Bank
Instruments: Loan and Debt Securities, Equity, Guarantees
Fund Currency: EUR
Investment Horizon: 5 years (Loans and Debt Securities, Equities), 4 years (Guarantees)
Fund Manager: Frank Streppel

Contact Information

Frank Streppel
Fund Manager
frank.streppel@triodos.nl
+31 30 693 65 98

Additional Resources

WHO’S WHO IN MICROFINANCE: Hivos-Triodos Fund Foundation (September 2007)
https://www.microcapital.org/who%e2%80%99s-who-in-microfinance-hivos-trio…

Hivos-Triodos Fund Makes Debt Investment of $2m in Honduran ODEF Financiera (October 2009)
https://www.microcapital.org/microcapitalorg-story-hivos-triodos-fund-mak…

Indonesian Wholesale Microfinance Bank Andara is Officially Launched after $5m Investment from Mercy Corps, International Finance Corporation (IFC), Hivos-Triodos Fund (HTF), and CORDAID (April 2009)
https://www.microcapital.org/microcapital-story-indonesian-wholesale-micr…

Akiba Commercial Bank of Tanzania to Receive a Total of $5.2m in Capital from Accion Investments in Microfinance, the Hivos-Triodos Fund Foundation, Incofin, Inter-Consult, the Netherlands Development Finance Company, the Parastatal Pension Fund, the Triodos-Doen Foundation, and 70 Private Tanzanian Individuals (June 2008)
https://www.microcapital.org/microcapital-story-akiba-commercial-bank-of-…

Triodos-Doen and the Hivos-Triodos Fund Invests $1.3M in HUMO Micro Lending Fund, Alter Modus Montenegro and Kazakhstan Microcredit Organization Bereke (May 2008)
https://www.microcapital.org/microcapital-story-triodos-doen-and-the-hivo…

Triodos-Doen Foundation, Triodos Fair Share Fund and Hivos-Triodos Invest a Total of $7.5M in Latin American Microfinance Institutions: Organización de Desarrollo Empresarial Feminino (ODEF OPDF), EPDYME Edyficar, Fondo Financiero Privado para el Fomento a Iniciativas Economicas (FIE FIE) and FIE Gran Poder S.A. (May 2008)
https://www.microcapital.org/microcapital-story-triodos-doen-foundation-t…

Microfinance Institution Uganda Financial Trust Limited Recently Receives Investments Totaling USD 1.18 Million from Triodos-Doen and Hivos-Triodos Fund (February 2008)
https://www.microcapital.org/microcapital-story-microfinance-institution-…

Dutch Hivos-Triodos Lends USD 1.56 Million to AMRET of Cambodia and USD 1.32 Million to the Kazakhstan Loan Foundation (June 2007)
https://www.microcapital.org/microcapital-story-dutch-hivos-triodos-lends…

Hivos-Triodos Lends USD 1 mn to FINCA Ecuador and USD 800,000 to Edpyme Crear Tacna in Peru (April 2007)
https://www.microcapital.org/hivos-triodos-lends-usd-1-mn-to-finca-ecuado…

Reliance Financial Services Receives $500,000 in Loans from ShoreCap International Ltd. and the Hivos-Triodos Fund (April 2007)
https://www.microcapital.org/reliance-financial-services-receives-500000-…

Pro Mujer Bolivia Receives 1 Million in Microfinance Loans from Hivos-Triodos and responsAbility Global Microfinance (March 2007)
https://www.microcapital.org/pro-mujer-bolivia-receives-1-million-in-micr…

Hivos-Triodos Fund Invests $232,904 in the Microfinance Institution, Bereke (March 2007)
https://www.microcapital.org/hivos-triodos-fund-invests-232904-in-the-mic…

Hivos-Triodos Invests 1 million in the Honduran Microfinance Institution, ODEF (March 2007)
https://www.microcapital.org/hivos-triodos-invests-1-million-in-the-hondu…

Hivos-Triodos Fund Invests 561,600 in Marang Financial Services (March 2007)
https://www.microcapital.org/hivos-triodos-fund-invests-561600-in-marang-…

Hivos-Triodos loans 650,300 to Sinapi Aba a Ghanaian Microfinance Institution (March 2007)
https://www.microcapital.org/hivos-triodos-loans-650300-to-sinapi-aba-a-g…

Hivos-Triodos Fund Invests 300,000 in Fundación José Nieborowski (February 2007)
https://www.microcapital.org/hivos-triodos-fund-invests-300000-in-fundaci…

Incofin Rural Impulse Fund (RIF)

Overview

The Incofin Rural Impulse Fund (RIF) is a microfinance investment vehicle, which mobilizes capital for rural microfinance institutions (MFIs).

Description

The Incofin Rural Impulse Fund (RIF) was launched in 2008 to invest in rural microfinance institutions (MFIs) that are deemed commercially viable. The Fund targets both farm and non-farm populations in small towns and villages. The Fund invests primarily through loans, though it makes equity investments and guarantees as well. At the end of 2008, the fund held shares in two MFIs: Asomi (India) and Confianza (Peru). The fund had also extended 19 loans.

Microfinance Information Exchange (MIX) Profile

http://mixmarket.org/funders/incofin-rural-impulse-fund

Organization’s Website

http://www.incofin.be/static/en/what_we_do/for_investors/rural_impulse.a…

Just the Facts

Country of Incorporation: Luxembourg
Year Founded: 2007
Legal Status: SICAV-FIS
Fund Assets (as of day/month/year): USD 38 million (as of 31/December/2008)
Fund Assets Allocated to MFI Investment (as of day/month/year): USD 32.9 million (as of 31/December/2008)
Number of Microfinance Fund Investments (as of day/month/year): 24 (as of 31/December/2008)
Area of Operation: Global
Participant(s)/Backer(s)/Investor(s): the Belgian Investment Company for Developing Countries (BIO), the European Investment Bank(EIB), Netherlands Development Finance Company (FMO), the International Finance Corporation (IFC), KBC Private Equity, Incofin, MRBB, Volksvermogen, CERA, BRS
Instruments: Loan and Debt Securities, Equity, Guarantees
Fund Currency: USD
Investment Horizon: 5 years (Loans and Debt Securities) 5 to 10 years (Equity, Guarantees)
Fund Manager: Incofin

Contact Information

Rural Impulse Fund
Sneeuwbeslaan 20
2610 Wilrijk
tel.: +32 0 3 829 25 36
fax: +32 0 3 740 78 28
e-mail: info.ruralimpulse@incofin.be

Additional Resources

Latest news from Incofin
http://www.incofin.be/en/knowledge_center/archive/List.aspx

Rural Impulse Fund of Belgium’s Incofin Invests in Asomi, an Indian MFI (January 2009)
https://www.microcapital.org/microcapital-story-rural-impulse-fund-of-bel…

Luxembourg Fund Labelling Agency (LuxFLAG) Grants Label to Belgian Microfinance Investment Company Incofin’s Rural Impulse Fund (RIF) (July 2008)
https://www.microcapital.org/microcapital-story-luxembourg-fund-labelling…

Rural Impulse Fund Lends $300k to Latin America Microfinance Institution Fundación ESPOIR (December 2007)
https://www.microcapital.org/microcapital-story-rural-impulse-fund-lends-…

MICROCAPITAL STORY: Rural Impulse Fund Lends $500k to Nicaraguan Microfinance Institution PRESTANIC (November 2007)
https://www.microcapital.org/microcapital-story-rural-impulse-fund-lends-…

Incofin Announces Creation of Rural Impulse Fund, an Investment Fund to Target Rural Microfinance; BIO, EIB, IFC, FMO Invest (August 2007)
https://www.microcapital.org/microcapital-story-incofin-announces-creatio…

Incofin VDK MFI Loan Portfolio

Overview

The Incofin VDK MFI Loan Portfolio provides debt financing to large microfinance institutions (MFIs).

Description

The Incofin VDK MFI Loan Portfolio was launched in 2007 when VDK spaarbank (a Belgian savings bank which is one of Incofin’s biggest shareholders) decided to build its own portfolio. VDK spaarbank earmarked EUR 75 million (USD 110 million) for the fund, and appointed Incofin to act as mediator for the facility. The fund invests in large microfinance institutions (MFIs) that are deemed high-quality. Incofin is a cooperative company (with limited liability) that invests in MFIs and manages funds that invest in microfinance.

Microfinance Information Exchange (MIX) Profile

http://mixmarket.org/funders/incofin-rural-impulse-fund

Organization’s Website

http://www.incofin.be/static/en/what_we_do/for_investors/vdk_mfi.aspx

Just the Facts

Country of Incorporation: Belgium
Year Founded: 2007
Legal Status: Facility on the balance sheet of VDK spaarbank
Fund Assets (as of day/month/year): EUR 75 million (USD 110 million as of 30/November/2009)
Fund Assets Allocated to MFI Investment (as of day/month/year): EUR 41 million (USD 60.1 million as of 30/November/2009)
Number of Microfinance Fund Investments (as of day/month/year): 16 (as of 31/December/2008)
Area of Operation: Global
Participant(s)/Backer(s)/Investor(s): VDK spaarbank
Instruments: Loan and Debt Securities
Fund Currency: USD, EUR
Investment Horizon: 5 years
Fund Manager: Incofin

Contact Information

Sneeuwbeslaan 20
2610 Wilrijk
tel.: +32 0 3 829 25 36
fax: +32 0 3 740 78 28
e-mail: info.incofin@incofin.be

Additional Resources

Latest news from Incofin
http://www.incofin.be/en/knowledge_center/archive/List.aspx

Incofin Annual Report
http://www.incofin.be/static/en/knowledge_center/annual_report.aspx

ACCION Latin America Bridge Fund (LABF)

Overview

The ACCION Latin American Bridge Fund (LABF) provides guarantees to local banks in order to secure loan capital for microfinance institutions (MFIs).

Description

The ACCION Latin American Bridge Fund (LABF) is a guarantee fund for microfinance institutions (MFIs) that was created by ACCION International in 1984. The Fund provides guarantees, primarily to local banks, so that ACCION’s partner institutions can secure loan capital. The Fund provides guarantees to MFIs located in Latin America and the Caribbean.

Microfinance Information Exchange (MIX) Profile

http://www.mixmarket.org/funders/labf

Organization’s Website

http://www.accion.org/Page.aspx?pid=843

Just the Facts

Country of Incorporation: United States
Year Founded: 1984
Fund Assets (as of day/month/year): USD 8.1 million (as of 31/December/08)
Area of Operation: Latin America and the Caribbean
Participant(s)/Backer(s)/Investor(s): ACCION International
Instruments: Guarantees
Fund Currency: USD
Investment Horizon: 1.5 years to 5 years
Fund Manager: ACCION International

Contact Information

Pablo F. Rieckhof
ACCION International
1401 New York Avenue, NW
Suite 500
Washington, DC 20005 USA
Tel: +1 202 393-5113 x1636
Email: financialservices@accion.org