Lendable backs Amartha to finance Indonesia’s women-led businesses. The Jakarta-based lending platform supports unbanked women micro-entrepreneurs in Indonesia’s rural areas. It secured $10 million in credit from Nairobi-based Lendable, which lends to inclusive fintech companies in emerging markets. Amartha, which has backed more than 600,000 women entrepreneurs, could eventually tap up to $50 million through the facility.
Signals: Ahead of the Curve
PRI signatories are not walking the talk. The U.N.-backed Principles for Responsible Investment prioritize environmental, social and governance, or ESG, investing. Many PRI signatories, including BlackRock, Vanguard and State Street, however, vote in favor of ESG proposals less often than non-signatories to the principles, according to a Robeco analysis of more than 20 million proxy votes. One recommendation: PRI can encourage signatories to develop joint shareholder engagement policies and agendas.
Agents of Impact: Follow the Talent
Greg Wasserman, ex- of Generation Investment Management, and Sean Petersen, ex- of AI Fund, join Wellington Management as climate-focused senior investors… Biju Mohandas, previously with International Finance Corp., joins LeapFrog Investments as a partner and global co-lead for healthcare… Graham Day steps down as chief financial officer of Sistema.bio to join Spring Activator as investment director… BlackRock is hiring a director of its impact opportunities fund in New York… Prime Coalition is recruiting a director of impact in Cambridge, Mass.
“It’s a great time for new entrants, but for those of us who’ve been doing this for a while it is equally urgent to raise our game right and to not get complacent,” said Margot Brandenburg of the Ford Foundation.