Insitor Partner reported today that the first closure of its Insitor Impact Asia Fund II (IIAF II) reached $42 million, with a goal of reaching $70 million by the end of 2022.
The Dutch Good Growth Fund (DGGF) is among the investors in this round, as are two core investors from the firm’s prior fund: British International Investment (formerly CDC Group) and Insitor’s founding family offices.
In addition to the fund’s closure, Insitor stated that it has inked a Memorandum of Understanding (MoU) with CDC Capital Group, recognising its IIAF II fund as Asia’s first 2X Pioneer Flagship Fund.
2X Flagship Funds are a project of the 2X Collaborative, a worldwide industry group for gender lens investment founded after the G7 launched the 2X Challenge in 2021. Its goal is to raise $15 billion to assist programmes aimed at empowering women.
Insitor intends to invest in 12 to 15 high-growth, scalable businesses across its three primary investment themes: Better Health, Sustainable Living, and Economic Growth.
It intends to invest in pre-Series A to Series A firms, as well as offer follow-on capital as portfolio companies grow. Limited Partners are anticipated to work with the new fund to co-invest in larger ventures.
Insitor was founded in 2009 and bills itself as the first impact fund manager in Cambodia and Myanmar, as well as an early participant in India and Pakistan.
According to the firm, it has made 27 investments in the region so far, creating 14,000 employment and changing the lives of over 40 million low-income people served by its portfolio companies.
