Developing World Markets (DWM), a fund manager based in the US state of Connecticut, recently raised USD 90.4 million to “provide local-currency debt financing to benefit low-income communities and micro-, small and medium enterprises [MSMEs] in emerging and frontier markets.” The target beneficiaries include minority- and female-owned and operated businesses in sectors such as “sustainable” agriculture, housing, education, health, renewable energy, and water and sanitation. This funding comes from three Sweden-based insurance and pension firms, Kåpan Pensioners, Nordea Life & Pensions and the Skandia Mutual Life Insurance Company.
Referring to the COVID-19 pandemic, DWM Co-Managing Partner Peter Johnson spoke of the importance of “support[ing] productive investment, at a moment of critical need for the economies and people of the developing world to help build more resilient and equitable societies. DWM’s impact investment strategy aims to do so, with measurable results.”
DWM, which was founded in 1994, has approximately USD 2 billion of private debt and private equity deployed in “impact-oriented enterprise.” This includes approximately 25 equity placements and 600 loans in 40 developing countries. The firm exclusively invests in emerging and frontier markets with the goal of addressing both economic and social needs.
By Madigan Ruch, Research Associate
Sources and Additional Resources
DWM press release
https://www.dwmarkets.com/wp-content/uploads/2020/07/dwm-press-release-july-1-2020.pdf
Skandia homepage
https://www.skandia.se/
Kåpan homepage
https://www.kapan.se/
Nordea homepage
https://www.nordea.com/
Previous MicroCapital news on DWM
https://www.microcapital.org/microcapital-brief-dwm-advised-funds-lend-32m-sri-lankas-lanka-orix-leasing-company-lolc-micro-credit/
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