Six UN member states and development institutions have committed more than US$60 million to a blended finance vehicle that will invest in small and medium-sized enterprises (SMEs) in the world’s least developed countries (LDCs) to help contribute to the UN’s Sustainable Development Goals (SDGs). The BUILD Fund, developed by Bamboo Capital Partners, a specialist impact investor in emerging markets, and the UN Capital Development Fund (UNCDF), will be managed by Bamboo and targeting companies identified and supported by UNCDF. The capital comes from Canada, the United States, Norway, Luxembourg, Sweden and the Nordic states through the Nordic Development Fund.
We are pleased to announce that the BUILD Fund – @UNCDF in collaboration with @bamboocp – received US$60+ Million in commitment from six development institutions representing 🇨🇦, 🇺🇸, 🇳🇴, 🇱🇺, 🇸🇪 and @NDFnews!
— UNCDF (@UNCDF) April 28, 2022
Jean-Philippe de Schrevel, Founder and Managing Partner at Bamboo, said: “Bamboo, as an impact investor, strongly believes there is a need for capital to unlock the potential of early-stage businesses in LDCs and low-income countries, and our partnership with UNCDF ensures that capital and impact are aligned together. UNCDF’s strong presence on the ground, along with our investment experience, has been recognised by the member state donors and DFI partners providing de-risking capital. We are confident that they will be joined by the private sector in making the BUILD fund a success.”