Launched last year with anchor commitments from Schroders and development finance institutions from Japan, the UK, and the USA, BlueOrchard Finance‘s Covid-19 Emerging and Frontier Markets MSME Fund has raised almost 60% of its final goal target in time for its second close. The Zurich-based impact investor has now received commitments totaling $207 million for the new debt fund which has a final goal target of $350 million.
According to Africa Capital Digest‘s earlier reporting, up to $70 million of the globally-focused fund’s capital is being allocated to opportunities in Africa. The fund’s strategy is to provide loan funding to financial institutions in emerging and frontier markets which they can lend on to micro, small and medium businesses in their countries, helping them mitigate the negative commercial effects of the pandemic.
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