ALMA Wins Guarantee for $100 Million Fund for Women-Run Firms
(Bloomberg) — ALMA has set up a $100 million fund to invest in female-run and led businesses in developing nations after securing a partial guarantee from a unit of the Private Infrastructure Development Group for a loan from Aegon Asset Management.
The US-based impact investment company’s fund will focus mainly on businesses in sub-Saharan Africa and Asia, the firms said in a statement on Thursday. GuarantCo, the PIDG unit, will provide a $75 million guarantee to cover the loan from Aegon and other investors and ALMA an additional $10 million first loss facility.
“All of it goes to women-run businesses,” Guillaume Carta, investment director at GuarantCo, said in an interview. The fund could invest in “small-scale agriculture deals, water treatment, small-scale infrastructure, e-mobility deals,” he said.
The PIDG is a development finance institution backed by the UK, Dutch, Swiss, Swedish, Australian, German and Canadian governments.
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