US-based Global Environment Fund (GEF) Capital Partners recently secured USD 30 million for its South Asia Growth Fund (SAGF) III from the Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden (FMO). The funding is to boost the fund’s “equity and equity-linked” investments in middle-market institutions engaged in sectors such as energy conservation, waste management and “the renewable energy value chain,” primarily in India.
Founded in 2018, GEF Capital Partners invests in companies “that promote resource efficiency and contribute to building a more sustainable future” from offices in Brazil, India and the US. The firm lists 23 portfolio companies plus four from which it has exited. As of 2021, it reported USD 155 million in assets under management in South America, primarily in Brazil. As of 2022, GEF Capital Partners reported USD 176 million in assets under management in South Asia, primarily in India.
Established in 1970, FMO is 51-percent held by the Dutch government and 49-percent by private investors. The institution works toward the UN Sustainable Development Goals by funding capacity development and placing debt and equity investments in sectors such as agribusiness, financial institutions and energy. During the first half of 2023, FMO disbursed new investments totaling EUR 1.1 billion (USD 1.2 billion), resulting in a committed portfolio of EUR 13 billion (USD 14 billion).
By Renata Samadova, Research Associate
Sources and Additional Resources
FMO transaction data
https://www.fmo.nl/news-detail/dc0443d7-b709-463d-b5f7-6b3a4bb0161b/monthly-transaction-overview-july-2023
GEF Capital Partners homepage
https://gefcapital.com
GEF Capital Partners South Asia report 2022
https://gefcapital.com/capital-partners/wp-content/uploads/2023/02/Disclosure-Statement_OPIM_GEF-South-Asia_January2022.docx.pdf
GEF Capital Partners Latin America report 2021
https://gefcapital.com/capital-partners/wp-content/uploads/2022/04/GEF-Latam-Impact-Report-2021.pdf
FMO homepage
https://www.fmo.nl
Previous MicroCapital article on FMO
https://www.microcapital.org/microcapital-brief-hamkorbank-of-uzbekistan-borrows-50m-from-fmo-to-fund-smes-owned-by-women-youth-microenterprise-climate-projects/
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