Goodwell Investments, a pioneering investment firm focused on financial inclusion, has launched a new EUR 20 million (around $23 million) fund. This fund will go to investments in the “inclusive economy in Sub-Saharan Africa. The Netherlands-based firm is also focused on FinTech and inclusive growth in sectors providing basic goods and services and income generation opportunities to the underserved.
Great opportunities to achieve high social impact and financial return by investing in high growth impact businesses. We launched our EUR 20 million Goodwell IV fund for inclusive economy in Sub Saharan Africa. . Reach out for more info. https://t.co/3ITGt67EED #impinv #fintech pic.twitter.com/GdN8uo0qu5
— Goodwell Investments (@GoodwellInvest) September 5, 2018
According to Goodwell Investments, “the launch specifically meets the growing demand for impact investments from private investors, family offices and foundations, and plays to the many investor requests Goodwell received following the successful closure of its predecessor fund earlier this year.”
Pegged as Goodwell IV, the fund aims to achieve maximum social impact while delivering a market rate return to investors. Goodwell is convinced that while economic and social developments are rapidly changing the face of Africa, millions of people continue to be excluded from basic goods and services, such as financial services, energy or health care.
There is a specific focus on technology-driven solutions because technology, especially on the vast African continent, enables businesses to reach more consumers faster and at much lower cost.
The firm is poised to providing un(der)served consumers with access to these basic services will contribute to a more sustainable and inclusive society. It believes this is best achieved by providing capital and management support to companies that deliver these products and services.
And according to Goodwell, half of the new fund will go to financial services because the “financial sector is the driving force behind a thriving local economy.” The rest will go to agriculture, health and sanitation, energy, and transport.
Our mission in #financial inclusion: build sustainable institutions that serve the unbanked by providing access to responsible and affordable financial services. 30 million households reached so far.#impinv #fintech #accesstofinance
— Goodwell Investments (@GoodwellInvest) June 8, 2018
About Goodwell Investments
Though founded in 2005, since 2006, Goodwell has raised 5 different funds with over $ 100 mln in capital. The investment company has invested equity in early-stage businesses in financial services and technology companies in India and Africa, ranging from classical microfinance to mobile payments, rural banking, affordable housing finance to merchant payment networks and public transport technology.
— Goodwell Investments (@GoodwellInvest) June 19, 2018
Goodwell’s past investments have been equity-inclined with a strong focus on early-stage startups in India and Africa. Its African portfolio companies in FinTech include Paga (Nigeria), Oradian (Nigeria), Nomanini (South Africa) and Musoni Systems (pan-African), and WhereIsMyTransport (pan-African) in mobility tech.
Goodwell manages its funds with teams on the ground that have become local leaders in the impact investment sector. Partners are located in India (Aavishkaar), Nigeria (Alitheia), Ghana (JCS), Kenya (Voxtra), and South Africa (Goodwell South Africa).
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