Voxtra launches $12m East Africa Agribusiness Fund
EVPA member Voxtra recently held the first closing of their impact investing fund for agribusiness in East Africa. They raised NOK 65 million (approximately USD 12 million) from institutional investors such as Norfund, Grieg International and Kavlifondet, as well as from engaged individuals in Scandinavia. The Fund will invest in 10-15 small and growing enterprises in East Africa that provide improved inputs, processing capacity or market access to smallholder farmers. The Fund will target companies in the ‘missing middle’: too large for microfinance and too small for mainstream investors. Voxtra’s investments are expected to significantly strengthen the incomes and food security of more than 200,000 smallholder farmers. Kim Wahl, Co-founder and Chairman of Voxtra explained “Voxtra is focusing on agribusiness because it is fundamental to poverty alleviation, providing opportunities to deliver both significant social impact and financial returns.”
Voxtra is a Norway-based organisation that focuses on strengthening livelihoods through agriculture and job creation in India and East-Africa. Voxtra seeks projects that have a high and measurable impact on poverty and can scale to reach 100,000s of people. The organisation mainly channels capital to create social impact in two ways: grants to results-driven non-profits and impact investments in for-profits.
More information under http://www.voxtra.org/