Finnfund

Finnfund is a development financier and impact investor based in Finland. It invests in responsible and profitable businesses in developing countries, providing equity, mezzanine investments, and long-term loans. Finnfund receives funding from the State of Finland, private capital markets, and retained earnings, with all profits recycled into new projects. The organization emphasizes sectors critical to sustainable development, such as renewable energy, sustainable forestry, sustainable agriculture, financial institutions, and digital infrastructure and solutions. Finnfund actively invests in Africa, where half of its investments, commitments, and investment decisions are located. From December 2016 to July 2023, it participated in 8 funding rounds totaling $156.3 million, focusing on stages including Series B, Series A, Seed, Debt Financing, and others. Its geographic preferences include Rwanda, South Africa, and Kenya, with sector interests in Health Tech, Fintech, and HR & Talent. Notable investments include Kasha (Rwanda, Health Tech), Fuzu (Kenya, HR & Talent), and JUMO (South Africa, Fintech). Finnfund often co-invests with partners such as Goldman Sachs, Proparco, LeapFrog Investments, and Vostok Emerging Finance. It makes 20-30 new investments annually worth 200-250 million euros and publishes details of its direct investments, including company names, regions, countries, sectors, and financing instruments.