Abler Seeks To Raise $140 Mn for new fund
Abler Nordic announced that it has begun raising money for its fifth fund, with a goal of at least $140 million this year. The social impact investor said in a statement that it intends to use its most recent fund to continue funding microfinance businesses and that it also expects to set aside a sizeable chunk for additional investments in the Indian market.
With almost 40% of our $345 million committed capital invested as equity in Indian financial inclusion enterprises, India where we started remains a critical market for us. According to Smriti Chandra, investment director and head of Abler Nordic's India branch, "Since our formation in 2008, our public-private collaboration has helped to enable millions of low-income people with a wide range of responsible financial services."
In Oslo, 2008 saw the formation of the public-private cooperation Abler Nordic. Global financial inclusion businesses are supported by social impact investors. In order to provide financial services to low-income households, the fund mostly invests in traditional microfinance firms. It mostly invests in businesses on the continents of Asia and Africa.
Its five funds, Global, Frontier, Fund III, Fund IV, and Climate Smart Fund, currently have 26 active investments between them. Eleven stock, seven debt, and seven microfinance investment vehicles are included in its portfolio. In seven countries in Africa and Asia Cambodia, India, Indonesia, Kenya, Myanmar, Uganda, and Senegal its active and direct investments reach 10 million clients, according to a press statement from Abler Nordic.
According to Arthur Sletteberg, managing director of Abler Nordic, "Our varied investments in recent years and active engagement in the firms we are engaged in is in accordance with the broader concept of financial inclusion, and it was time for our name to reflect this."
Abler Nordic has so far seen new Danish and Norwegian investors join each new fund's existing backers. 60% of the funding for its most recent fund, which had total pledges of $140 million, came from private investors.
With almost 40% of our $345 million committed capital invested as equity in Indian financial inclusion enterprises, India where we started remains a critical market for us. According to Smriti Chandra, investment director and head of Abler Nordic's India branch, "Since our formation in 2008, our public-private collaboration has helped to enable millions of low-income people with a wide range of responsible financial services."
In Oslo, 2008 saw the formation of the public-private cooperation Abler Nordic. Global financial inclusion businesses are supported by social impact investors. In order to provide financial services to low-income households, the fund mostly invests in traditional microfinance firms. It mostly invests in businesses on the continents of Asia and Africa.
Its five funds, Global, Frontier, Fund III, Fund IV, and Climate Smart Fund, currently have 26 active investments between them. Eleven stock, seven debt, and seven microfinance investment vehicles are included in its portfolio. In seven countries in Africa and Asia Cambodia, India, Indonesia, Kenya, Myanmar, Uganda, and Senegal its active and direct investments reach 10 million clients, according to a press statement from Abler Nordic.
According to Arthur Sletteberg, managing director of Abler Nordic, "Our varied investments in recent years and active engagement in the firms we are engaged in is in accordance with the broader concept of financial inclusion, and it was time for our name to reflect this."
Abler Nordic has so far seen new Danish and Norwegian investors join each new fund's existing backers. 60% of the funding for its most recent fund, which had total pledges of $140 million, came from private investors.
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