Aavishkaar Capital, an international impact investment manager, in partnership with German government’s development bank KfW, has announced the launch of $250 million impact investment fund ‘ESG First Fund’.
The fund is focused on strengthening the environmental, social and governance practice of mid-cap businesses in Asia and Africa while offering them flexible capital to scale to new markets.
Bangladesh is expected to be one of the important recipient countries of the investments, according to a statement by Aavishkaar.
The firm has already invested funds in a few Bangladeshi companies, including B2B e-commerce platform Sindabad and Fintech firm Cloudwell.
The ESG First Fund is in general open to all sectors, but it focuses on those with high exports towards Europe, of course having a strong ESG commitment.
Aavishkaar Capital with its focus on the Global South is a pioneer in taking an entrepreneurship-based approach to scaling businesses for impact.