Creation Investments Social Ventures Fund I, a global microfinance-focused private equity fund, has made a final close at $31.8 million. The fund is now eyeing investments in Asia, besides Latin America and Eastern Europe. The Fund’s investor base includes 74 US and European institutional investors along with family offices and high net worth individuals. Creation Investments Capital Management, LLC, is headquartered in Chicago, Illinois.
The fund has till date deployed half of this capital, making investments in five MFIs and lenders in geographies like Latin America and Central and Eastern Europe. Its portfolio includes include: Aspire, S.A.P.I. de C.V. SOFOM E.N.R. (Mexico); MicroCred Mexico, S.A.P.I. de C.V. SOFOM E.N.R. (Mexico); Opportunity Albania (Albania); Inicjatywa Mikro (Poland); and Forus Bank (Russia).
Creation Investment Social Ventures Fund I eyes growth equity investments in early stage MFIs besides buyout equity deals in MFIs transitioning out of NGO ownership.
“We are excited to have brought sophisticated, private sector investors to a new asset class providing them with the opportunity to maximize their financial and social returns through robust impact investments” said Patrick Fisher, CEO and Co-Founder of the Fund Manager.
Another fund launched recently is Switzerland-based social investment firm responsAbility for companies with development impact. The new vehicle, responsAbility Ventures I, will invest in early-stage markets at the bottom of the income pyramid. There are currently three billion people in Asia and Latin America, Africa and Eastern Europe at the base of the pyramid (BOP) markets, according to a release from the firm.
responsAbility Ventures I raised $15 million at first closing and $2.35 million for its related Technical Assistance Facility, and is taking subscriptions starting at $250,000.
responsAbility Ventures I will invest in companies like solar LED light manufacturing firms that replace kerosene lamps, firms which use agricultural waste to generate power, among others.