ImpactAlpha, May 29 – Costa Rica-based EcoEnterprises Fund launched 20 years ago to boost sustainable livelihoods in agriculture, ecotourism and forestry sectors in Latin America.
Since then it has raised two funds and invested in 30 companies in 11 countries, including wild acai grower Sambazon and organic beverage company Runa. EcoEnterprises claims to have impacted more than 200,000 people and conserved 10.5 million acres of land.
Development finance institution FinDev Canada is backing the firm’s third fund, which launched in 2018. In June, the fund reached a $74 million first close towards a $100 million goal, Latin Finance reports.
Managing director Nathalie Prado hinted at new focus areas for the fund, including emerging technologies and biopesticides.
FinDev Canada backed the fund as part of the global 2X Challenge to encourage development finance institutions to get more capital flowing to women. FinDev cited EcoEnterprises’ female leadership as the 2X Challenge tie.