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New York, NY, March 30, 2022 – Ladies’s World Banking Asset Administration (“WAM”) has introduced the ultimate closing of its second fund, WWB Capital Companions II, L.P. (“WWBCP II” or “the Fund”). Following its first closing of $75 million in March 2020, WWBCP II held a ultimate closing in March 2022, bringing the entire Fund dimension to $103 million. The Fund seeks to assist shut the gender hole in monetary inclusion, whereas demonstrating the enterprise case for gender lens investing by attaining engaging returns for its traders. WWBCP II was named a 2X Problem Pioneer Flagship Fund in July 2021.
Christina Juhasz, Chief Funding Officer of WAM, mentioned, “We’re deeply grateful to our LPs for his or her help and desirous to proceed our journey as gender lens traders for monetary inclusion. This new fund permits us to be much more intentional in main gender-inclusive progress with our portfolio firms, deepening outreach to financially underserved girls and female-identifying clients and growing employment and management alternatives for them – all of which is in keeping with attaining engaging monetary returns for our LPs.”
Mary Ellen Iskenderian, CEO of Ladies’s World Banking famous, “We’re particularly gratified to have been capable of attain the triple-digit fund dimension – which remains to be fairly uncommon within the under-invested gender lens investing house – and we hope to attract further investor curiosity to the numerous modern gender methods which are poised for achievement.”
WWBCP II expands the gender-focused funding technique of WAM’s first fund with modern options designed to boost its social and monetary returns. These options embrace a blended finance construction, which reinforces risk-adjusted returns for personal and institutional traders, and a devoted, grant-funded technical help facility to assist portfolio firms obtain strategic, gender-inclusive progress aims. WWBCP II’s anchor traders, the European Union (“EU”) and the German Federal Ministry for Financial Cooperation and Improvement (“BMZ”) facilitated by the German improvement financial institution KfW, offered vital funding for each the primary loss tranche in addition to the technical help facility.
The Fund’s technique is to spend money on modern inclusive monetary service suppliers within the rising markets that prioritize attracting and serving a gender various buyer base and increasing gender range inside their workforces to realize outperformance in progress and monetary return. Via the technical help facility, the Fund gives data-driven market and organizational gender evaluation for every of the Fund’s portfolio firms in an effort to establish alternatives to accumulate and higher serve girls and female-identifying clients and to recruit, retain and advance girls and female-identifying expertise of their workforces. These assessments will lead to a Gender Motion Plan, to seize gender inclusive strategic progress alternatives for every portfolio firm. Gender disaggregated reporting will maintain the Fund and its portfolio firms accountable to attaining gender inclusion targets.
WWBCP II has closed 5 investments up to now, together with an inexpensive housing finance firm in India, a tech-enabled, small-hold agri-insurance dealer and advisor in Sub-Saharan Africa, a fintech neighborhood lender in Colombia, a peer-to-peer MSME lender in Indonesia, and a deposit-taking microfinance establishment in Uganda. Additional info concerning the portfolio obtainable on the WAM web site.
The Fund’s traders embrace, along with the EU and BMZ, the US Improvement Finance Company, the European Funding Financial institution, Japan Worldwide Cooperation Company, German improvement financial institution KfW, Soros Financial Improvement Fund, Sasakawa Peace Basis, MEDA, Dreilinden, Ceniarth and USAID, in addition to further impression traders, household workplaces and high-net value people.
European Commissioner for Worldwide Partnerships Jutta Urpilainen mentioned, “Ladies’s financial empowerment is crucial for tackling inequalities in addition to for sustainable improvement and progress. Empowering girls is a key precedence for the European Union. The EU is proud to work along with Ladies’s World Banking, main the way in which on girls’s monetary inclusion and gender lens investing.”
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About Ladies’s World Banking Asset Administration
Ladies’s World Banking Asset Administration, a subsidiary of Ladies’s World Banking, invests in modern inclusive finance firms within the rising markets, guiding them to seize the substantial market share of financially under-served girls and the substantial expertise pool of ladies employees and leaders.
About Ladies’s World Banking
Ladies’s World Banking designs and invests in monetary options, establishments, and coverage environments in rising markets to create higher financial stability and prosperity for girls, their households, and their communities. With a world attain of 62 companions in 35 international locations serving greater than 138 million girls purchasers, Ladies’s World Banking drives impression by way of its scalable, market-driven options; gender lens non-public fairness fund; and management and variety applications. To be taught extra go to womensworldbanking.org.
For additional inquiry contact: Christina Juhasz, Chief Funding Officer, [email protected], or Mary Ellen Iskenderian, President & CEO, [email protected]
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