Goodwell Investments with an office in Cape Town, South-Africa, reports that it has recently raised €20 million from over 30 investors for investments in inclusive economy in Sub-Saharan Africa.
Goodwell Investments BV invests in young, fast growing startup companies that offer products and services to under-served people on the continent to meet their increasing demand for affordable and quality basic products. The goal of raising this fund they say, “is to achieve maximum social impact while delivering a market rate return to investors.”
The VC is moved by massive economic and social developments rapidly transforming the continent of Africa but acknowledges that millions of people are still excluded from accessible and adequate basic goods and services, such as financial services, energy or health care.
It is for this reason Goodwell is convinced that if under-served consumers had access to these basic services, it would contribute to a more sustainable and inclusive society. This objective is best achieved by providing capital and management support to companies that deliver these products and services.
The investment fund, Goodwell explains, “is built on a portfolio that is spread across various impact sectors and regions in Sub-Saharan Africa.”
Half of the fund will be invested in financial services; the other half in agriculture, health and sanitation, energy, transport and education. Investment in the financial sector is crucial as it is the driving force behind a thriving local economy. This gives businesses the best leverage and opportunities to scale-up. Goodwell’s extensive network in this sector and successful track record from predecessor funds, allows the company to be a trusted and insightful mentor within the impact investment space.
About Goodwell BV
Goodwell since 2006, has raised 5 funds with over $100m in capital and 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.
The company has also recently launched uMunthu, a new €100m fund for Sub Sahara Africa, that will invest in financial inclusion, agribusiness and other inclusive growth sectors with a heavy focus on the digital economy.
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