Gawa Capital is a Spain-based impact investment manager targeting social enterprises to benefit low-income communities in emerging markets through microfinance, MSME lending, and agricultural financing. With $164 million AUM across three funds and a focus on transformative, market-based solutions to poverty and climate, Gawa pursues both debt and equity investments. Notable funds include the Huruma Fund (blended finance for smallholder farmers) and the Kuali Fund (targeting climate change adaptation/mitigation).
Investment geographies:Latin America and the Caribbean
About the fund
Spanish impact investment firm Gawa Capital has built a reputation for blending capital from public, private and philanthropic institutions to invest in hard to reach communities. Its Huruma Fund has been investing for five years in livelihood resilience rural agricultural communities across Latin America, Asia and Africa. Gawa is building on its experience with its Kuali Fund, which will invest in rural climate adaptation and resilience in Latin America.
“Adaptation must be where we focus more of our efforts,” Luca Torre of Gawa Capital told ImpactAlpha. “The issue is not lack of solutions, it’s how solutions are distributed.”
It will provide debt and equity to companies with green finance products for households and small businesses, as well as tech ventures delivering clean energy and other solutions.
Gawa is looking to raise $300 million. It has inked first-loss capital from the Green Climate Fund and concessional debt from the Spanish government in an effort to attract institutional investors.
Gawa expects to reach a first close of at least $120 million by the end of the month.
Investment geographies:Latin America and the Caribbean
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About the fund
Launched in 2019, Huruma Fund channels capital to expand access to credit and financial services for smallholder farmers and rural populations in Latin America, the Caribbean, sub-Saharan Africa, and Asia. By combining a first-loss guarantee from the European Commission and debt from Spanish Cooperation (FONPRODE), Huruma catalyzed €90 million in additional private investment within nine months of launch. The fund invests primarily in MFIs and agri-SMEs, providing both capital and technical assistance to improve agricultural productivity, resilience, and financial sustainability for excluded rural communities.