12 March 2024


Mar 12
ImpactAssets Unveils IA 50 2024, Showcasing 155 Impact Fund Managers Globally from Record Number of Applicants
This year’s IA 50 fund manager data dispels the myth of a trade-off between financial returns and social good. The majority of IA 50 managers target market rate (43%) and above market rate (31%) returns, proving that impact outcomes do not have to compromise financial outcomes.
Source: Yahoo Finance
Mar 12
Thailand: SPN Secures $64 Million Loan for Renewables Expansion
IFC’s funding will help SPN finance the acquisition, development, and construction of renewable projects—especially solar farms, solar rooftops, and biomass—in Thailand as well as in other ASEAN countries. IFC will also assist the company with a green finance framework as it expands its footprint in the East Asia and Pacific region.
Source: Mercom Capital Group
Mar 11
Africa-Focused PE XSML Capital Marks First Close of Fourth Fund
The Amsterdam-headquartered PE firm, which manages assets worth over $150 million, raised $98.7 million for the first close of it African Rivers Fund IV (ARF IV) to finance firms in the continent, including in Zambia. The $135 million target fund is aimed for a final close in the second half of the year with a hard cap of $200 million. The fund plans to make over 50 investments in African SMEs with average target tickets of $2-3 million.
Source: VCCircle
Mar 11
Ring Capital Launches New $55M Fund for Early-Stage Impact Startups
VC firm Ring Capital has announced the launch of Ring Africa, its impact investment vehicle for French-speaking West Africa, which aims to support young start-ups with a strong social and environmental impact, and has a target of EUR50 million (US$55 million).
Source: Disrupt Africa
Mar 11
India: SIDBI Secures First Green Climate Fund Project Worth $120 MN.
The primary aim of the ASF project is to invest in early-stage companies harnessing technology-led innovation to spur climate solutions and sustainability in the country. The anticipated outcomes include significant contributions to climate change mitigation, adaptation, and the enhancement of resilience in vulnerable sectors of the economy.
Source: The Hindu
Mar 7
MicroVest Launches New Framework for Portfolio Impact Management
MicroVest Capital Management (MicroVest), a pioneer of U.S.-based microfinance investing, today launched its new Impact Framework: The Pyramid of Intentionality (PI). The new Framework seeks to evolve the practice of impact management across the asset manager’s existing and future funds, with a standardized approach to assessing, managing, and measuring the impact targeted by the firm's investments, in line with leading industry standards. To accompany the launch, MicroVest has published a Framework Guide to illustrate how the PI was designed and developed.
Source: BusinessWire
Mar 7
EIB and Housing Finance Bank of Uganda Announce €50M Investment Partnership to Support Private Sector Entities
The project is aligned with Ugandan and EU priorities for the region as it aims to enhance inclusive growth and sustainable economic development by supporting women.
Source: Devdiscourse
Mar 6
DFIs Commit to Darby’s $400M Latin America Climate Fund
Development finance institutions are backing a private credit climate finance fund managed by Darby International Capital to help the region’s mid-sized companies to develop low-carbon and climate resilient businesses.
Source: Impact Investor
Mar 6
CFM Appointed to Manage USD-1.3BN Southern Africa Grids Fund
Blended finance fund manager Climate Fund Managers (CFM) has been appointed to manage a USD-1.3-billion (EUR 1.2bn) target financing facility aimed at improving interconnection and cross-border energy transmission in the Southern Africa region.
Source: Renewables Now

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