Aiming to spark the expansion of inclusive businesses in the area, social impact investment firm Goodwell Investments has launched its EUR150 million (US $154 million) uMunthu II fund.
Goodwell Investments is an impact investment company that focuses on inclusive growth in industries that offer underserved communities in Africa and India opportunities to generate income.
The company invests in high-growth, high-impact companies in their early stages. With teams in Kenya, Nigeria, South Africa, and the Netherlands and a history spanning more than 15 years, Goodwell has proven its capacity to produce both strong financial returns and a significant social impact at the same time.
In order to finance innovative, scalable, small- and medium-sized enterprises that increase the cost and accessibility of essential goods and services for underserved and unserved customers in Africa, Goodwell is seeking EUR150 million (US $154 million). With a secondary focus on healthcare, education, and energy, the diverse investment portfolio will prioritize financial inclusion (35%), food and agriculture (25%), and transportation and logistics (15%).
“Our mission-driven investment philosophy delivers both financial and social returns by taking an extremely local approach. Our repeated success is directly connected to working closely with our portfolio companies, bringing together both regional expertise and access to a global business network,” said Els Boerhof, one of Goodwell’s managing partners.
Alithea Capital, Goodwell’s long-term investment partner with a base in Lagos, Nigeria, will co-manage the fund. Private investors, family offices, and foundations have so far committed EUR50 million (US$51 million) to the fund. At least 35 new portfolio businesses will get the funding.
