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    Innovation Village | Technology, Product Reviews, Business
    You are at:Home»Africa»Goodwell Investments Launches $23M Fund for Investments in the Inclusive Economy in Sub-Saharan Africa
    Goodwell Inevstments
    Goodwell Investments

    Goodwell Investments Launches $23M Fund for Investments in the Inclusive Economy in Sub-Saharan Africa

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    By Tapiwa Matthew Mutisi on September 7, 2018 Africa, Business, economy, Entrepreneurship, Financial Inclusion, Fintech, Innovation Hub, Investments, News, Sponsorships, Startups, Technology in Africa

    Goodwell Investments is a pioneering investment firm focused on financial inclusion, fintech and inclusive growth in sectors providing basic goods and services and income generation opportunities to the underserved.

    Goodwell Investments has launched a new EUR 20 million (around $23 million) fund for investments in the inclusive economy in Sub-Saharan Africa.

    The launch specifically meets the growing demand for impact investments from private investors, family offices and foundations, and plays to the many investor requests Goodwell received following the successful closure of its predecessor fund earlier this year.

    According to Goodwell, the aim is to meet the “growing demand for impact investments” from private investors, family offices, and foundations.

    Additionally, it follows the “many investor requests” they received following the closure of its predecessor fund earlier this year.

    Dubbed Goodwell IV, the fund will look to “achieve maximum social impact”. Like its predecessors, they will be looking for “fast-growing companies.”

    Founded in 2005, Goodwell Investments has raised 5 different funds. Altogether, the funds have an estimation of $100 million.

    Half of the new fund will go to financial services according to Goodwell. Because the “financial sector is the driving force behind a thriving local economy.” The rest will go to agriculture, health and sanitation, energy, and transport.

    “There is a specific focus on technology-driven solutions because technology, especially on the vast African continent, enables businesses to reach more consumers faster and at much lower cost.”

    Goodwell’s past investments have been equity tagged with a strong emphasis on early-stage startups in India and Africa.

    On their website, they list that they have made investments in at least 25 companies. The fund participated in Paga’s (Nigeria) both series A and B.

    While Nomanini (South Africa) and Musoni Systems (pan-African), Oradian (Nigeria) and WhereIsMyTransport (pan-African) are among their other portfolio companies.

    In April this year, Goodwell participated in MFS Africa’s (South Africa) $4.5 million Series B that was led by LUN Partners Group as well as Lidya’s (Nigeria) $6.9 million series B in May this year.

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    Africa Financial Inclusion fintech Goodwell Investments inclusive growth Investments
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    Tapiwa Matthew Mutisi
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    Tapiwa Matthew Mutisi has been covering blockchain technology, intelligent technologies, cryptocurrency, cybersecurity, telecommunications technology, sustainability, autonomous vehicles, and other topics for Innovation Village since 2017. In the years since, he has published over 4,000 articles — a mix of breaking news, reviews, helpful how-tos, industry analysis, and more. | Open DM on Twitter @TapiwaMutisi

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