ImpactAlpha, December 5 — Creation Investments Capital Management has raised $270 million for its fifth fund to invest in eight to 10 companies in basic banking, insurance services and fintech-enabled affordable housing, education and supply chain finance, mostly in Mexico and India.
Investors in the Creation fund include Swiss-based impact investor Blue Earth Capital, which committed $16 million, and funds from 57 Stars and Ascension Investment Management.
Since 2007, the Chicago-based investment firm has focused on deploying private credit and equity to microfinance institutions, small and medium enterprise lenders, banks and other financial services providers in emerging markets.
The goal: expand access to financial capital and services for the 1.4 billion unbanked adults in emerging markets, primarily women, Creation’s Patrick Fisher told ImpactAlpha. Creation has local teams in Bangalore and Mexico City.
Inclusive finance
Creation has invested over half the fund in five portfolio companies, including AVLA, a Chilean company that offers insurance and affordable loans to Latin American consumers and small businesses; India’s ReshaMandi, which runs a B2B online marketplace for local silk farmers, retailers and fashion small businesses; and DD360, a Mexican housing fintech company that provides mortgage loans to consumers and construction loans for developers.
