Goodwell Investments, a social impact investment company, has launched its US$154 million uMunthu II fund with the goal of fostering the expansion of inclusive enterprises in the region.
With a focus on underserved communities in Africa and India, Goodwell Investments is an impact investing firm that seeks to promote growth in industries that supply essential goods and services and chances for income generation.
The company offers high-growth, high-impact enterprises early-stage equity.
In order to support innovative, scalable, small and medium-sized enterprises that increase the affordability and accessibility of essential goods and services for underserved and unserved consumers in Africa, Goodwell is raising 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.”
The fund has so far attracted pledges totaling US$51 million from foundations, family offices, and individual investors.
With teams in Kenya, Nigeria, South Africa, and the Netherlands and a record 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.
Alithea Capital, Goodwell’s long-term investment partner with a base in Lagos, Nigeria, will co-manage the fund.
The money will go toward at least 35 new portfolio companies.
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