SDG Frontier Fund

The SDG Frontier Fund is a self-managed fund-of-funds that seeks to co-invest with BIO in private equity funds in Asia and Africa.

SDG Frontier Fund
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The SDG Frontier Fund, set up at the initiative of BIO in March 2020, reached a total fund size of EUR 36 million, thanks to the participation of fourteen Belgian institutional and private investors, including BIO.

The fund aims to support sustainable economic growth in African and Asian frontier markets and offers an attractive financial return.

Key facts

Fund concept

  • SDG Frontier Fund aims to invest in 10 to 12 private equity funds and will only invest in funds in which BIO has invested.
  • Middle and back-office services provided by BIO.

Investment Strategy

Impact and assessment of sustainable development goals will be equally important as financial targets.

Risk Management

  • Risks are mitigated by the Fund of Funds structure offering a wide diversification around 100 SMEs spread over different sectors and countries.
  • Co-investments with BIO.
Logos investors webpage

Investors

In its first closing the SDG Frontier Fund has partnered with nine institutional and private investors, including AG Insurance, Belfius Insurance, King Baudouin Foundation, Volksvermogen, vdk bank, several family offices, and BIO.

For its final closing in February 2022, the fund has welcomed four additional investors, including Ghent University and Ethias.

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Sustainable Development Goals

The SDGs are a call for action by all countries – poor, rich and middle-income – to promote prosperity while protecting the planet. They recognize that ending poverty must go hand-in-hand with strategies that build economic growth and address a range of social needs including education, health, social protection, and job opportunities, while tackling climate change and environmental protection.

Current investments

African Rivers Fund III

African Rivers Fund III

The SDG Frontier Fund has invested USD 1.7 M in equity in the African Rivers Fund III, an SME fund which invests in small and medium-sized enterprises in Central and Eastern Africa.

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AfricInvest Financial Inclusion Vehicle

AfricInvest Financial Inclusion Vehicle

The SDG Frontier Fund has committed EUR 3,200,000 in equity in FIVE, an evergreen investment fund focusing on financial inclusion in Africa.

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Ascent Rift Valley Fund II

Ascent Rift Valley Fund II

The SDG Frontier Fund has invested USD 2.3 M in equity in Ascent Rift Valley Fund II, an SME Fund targeting fast-growing SMEs in Eastern Africa.

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Cathay Africinvest Innovation Fund

Cathay Africinvest Innovation Fund

The SDG Frontier Fund has invested EUR 4 M in Equity in the Cathay Africinvest Innovation Fund Ltd, a Pan African SME Fund.

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Excelsior Capital Vietnam Private Equity Fund

Excelsior Capital Vietnam Private Equity Fund

The SDG Frontier Fund has invested USD 2.2 M in Excelsior Capital Vietnam Private Equity Fund, a private-equity fund focused on Vietnam.

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Ezdehar Mid-Cap Fund II

Ezdehar Mid-Cap Fund II

The SDG Frontier Fund has invested USD 1.7 M in the Ezdehar Mid-Cap Fund II, a Private Equity Fund focused on Egypt.

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Incofin India Progress Fund

Incofin India Progress Fund

The SDG Frontier Fund has invested EUR 2 M in equity in the Incofin India Progress Fund, a Financial Inclusion and Agribusiness Fund focused on India.

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South Asia Growth Fund II

South Asia Growth Fund II

The SDG Frontier Fund has invested USD 2.2 M in the South Asia Growth Fund II LP (SAGF II), a 10-year closed-end investment fund that will invest in energy efficiency and clean energy sectors.

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Uhuru Growth Fund I-A SCP

Uhuru Growth Fund I-A SCP

The SDG Frontier Fund has invested USD 2.85 M in equity in the Uhuru Growth Fund I, a PE fund focused on the Ecowas region

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