In a significant move to channel capital towards global digital equity, the Finnish development financier Finnfund has announced the successful first closing of its new investment vehicle, the Digital Access Impact Fund I (DAIF). The fund secured an impressive €80 million in initial capital commitments, establishing a strong foundation to begin its investment activities.
This crucial first-close milestone was made possible by the foundational support of two anchor investors: the Ministry for Foreign Affairs of Finland and Finnfund itself. Their participation not only provides the initial financial backbone for the fund but also signals strong governmental and institutional confidence in its mission, a key factor in attracting further private capital.
The core objective of the Digital Access Impact Fund I is to address the persistent digital divide by investing in critical digital infrastructure and innovative technological solutions. The fund will specifically target underserved regions across Africa, Asia, and Latin America, aiming to foster greater digital, financial, and gender inclusion for communities that have been historically marginalized.
DAIF’s investment strategy is focused on three key pillars:
- Telecommunications Infrastructure: This includes financing for essential assets like telecom towers, which are the backbone of mobile connectivity and are vital for expanding network coverage to rural and remote areas.
- Core Digital Infrastructure: The fund will invest in the foundational elements of the digital economy, such as data centers and fiber optic networks, which are necessary to support robust and reliable internet services.
- Scalable Technology Solutions: Beyond physical infrastructure, DAIF will support high-impact and scalable technology companies that leverage connectivity to deliver essential services in sectors like finance (fintech), education (ed-tech), and healthcare (health-tech).
Hanna Loikkanen, Finnfund’s Chief Investment Officer, highlighted the strategic importance of this new initiative. “The first closing of Finnfund Digital Access Impact Fund I is a pivotal step in our mission to mobilise private capital for sustainable development,” she stated. Loikkanen emphasized that the fund is designed to do more than just build infrastructure. “This fund not only addresses critical digital infrastructure needs but also empowers communities by enhancing access to essential services.”
She concluded by positioning the fund as a unique opportunity for collaboration: “We are excited to offer professional investors a chance to partner with us in driving meaningful change in these rapidly growing markets.” This invitation underscores the fund’s role as a bridge, connecting private sector investors with opportunities that promise both financial returns and profound, measurable social impact.
