ImpactAlpha, July 5 – The Schroders impact investing group is among the few investors directing capital to climate adaptation in vulnerable countries. BlueOrchard has raised $50 million for its second InsuResilience Fund, in partnership with German development bank KfW, to expand access to affordable climate insurance products.
The fund has so far backed two companies: Singapore-based Igloo, whose insurance products include protection for smallholder farms in the Philippines and Vietnam, and Brazil’s Newe, a parametric insurance provider whose products provide automatic relief to smallholder farmers when struck by certain types of natural disasters.
BlueOrchard made nine equity investments with its first InsuResilience fund. It says the fund’s portfolio companies have reached more than 48 million people in 45 countries.
The first fund also backed a dozen companies with debt capital. The second InsuResilience Fund is an equity-only strategy.
Separately, BlueOrchard is raising a planned $250 million fund to invest in climate adaptation and mitigation, water protection, and biodiversity in emerging markets.