Incofin’s agRIF fund has reached $140 million for smallholder farm finance.
The Belgian impact investor raised an additional $27 million from a new crop of investors, including AXA Investment Managers, Belgium-based family office Korys, and Invest in Visions in Frankfurt.
Incofin launched agRIF in 2015 with the goal of raising $200 million to invest in microfinance institutions offering financial services for low-income smallholder farmers in Latin America, Africa and Asia.
The latest raise brings agRIF’s total to $140 million, $34 million of which has been deployed. Incofin hopes to close the fund in June.