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Goodwell raises €20 million feeder fund for African impact investing

Impact Tech

The Dutch firm invests in young companies focusing on financial inclusion in Africa and India

PC: Goodwell Investments

The Dutch firm invests in young companies focusing on financial inclusion in Africa and India.

The €20 million ($24.5 million) raised from private investors is the anchor investment for its €100 million uMunthu fund, launched last year to invest in high-impact companies in Africa.

“We’ve found that the private investors can be catalytic in getting institutional capital in,” Goodwell’s Wim van der Beek told ImpactAlpha.

Goodwell has already made eight investments including in public transit tracker WhereIsMyTransport and mobile payments company Nomanini.

It invests through partnerships with local fund managers in five countries, including Alitheia in Nigeria and Aavishkaar in India.

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