Goodwell Investments launches $154m uMunthu II fund
Goodwell Investments, a social impact investment company, has established its EUR150 million (US$154 million) uMunthu II fund with the goal of fostering the expansion of inclusive enterprises in the area.
Goodwell Investments is an impact investment company that focuses on inclusive growth in industries that offer underprivileged populations in Africa and India access to basic products and services as well as chances for income generating.
The company offers high growth, high impact enterprises early-stage equity. 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 a major social effect and solid financial returns at the same time.
In order to finance innovative, scalable, small- and medium-sized businesses that increase the affordability and accessibility of essential goods and services for underserved and unserved consumers in Africa, Goodwell is raising EUR150 million (US$154 million). With a secondary focus on healthcare, education, and energy, the diversified investment portfolio will prioritize financial inclusion (35%), food and agriculture (25%), and mobility and logistics (15%).
“By adopting a very local perspective, our mission-driven investment methodology generates both financial and social results. According to Els Boerhof, one of Goodwell’s managing partners, “Our continued success is directly related to working closely with our portfolio firms, bringing together both regional experience and access to a worldwide business network.”
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.
