Social impact investment firm Goodwell Investments has launched its EUR150 million (US$154 million) uMunthu II fund, aimed at igniting the growth of inclusive businesses in the region.
Goodwell Investments is an impact investment firm focused on inclusive growth in sectors providing basic goods and services and income generation opportunities to underserved communities in Africa and India.
The firm provides early-stage equity to high growth, high impact businesses. With teams in Kenya, Nigeria, South Africa and the Netherlands and a track record of over fifteen years, Goodwell demonstrates the ability to simultaneously deliver significant social impact and strong financial returns.
Goodwell is raising EUR150 million (US$154 million) to finance innovative, scalable, small and medium-sized businesses that improve the access and affordability of basic goods and services for unserved and underserved consumers in Africa. The diversified investment portfolio will focus on financial inclusion (35%), food and agriculture (25%), and mobility and logistics (15%), with a secondary focus on healthcare, education and energy.
“Our mission-driven investment philosophy delivers both financial and social returns by taking an extremely local approach. Our repeated success is directly connected to working closely with our portfolio companies, bringing together both regional expertise and access to a global business network,” said Els Boerhof, one of Goodwell’s managing partners.
The fund will be co-managed by Alithea Capital, Goodwell’s long-term investment partner based in Lagos, Nigeria. To date, the fund has received EUR50 million (US$51 million) in commitments from private investors, family offices and foundations. The capital will be channeled into at least 35 new portfolio companies.