Investment of EUR 10 million in new Goodwell fund supporting fast growing companies in Africa

uMunthu II provides risk capital and direct management support to the companies  in which it invests. Invest International commits EUR 10 million at the first closing of EUR 57 million for uMunthu II, on a fund target of EUR 150 million. The key objective of the investments is to provide the fast growing population with access to essential products and services, such as food, energy, transport, education, or mobile payment and savings products.

Els Boerhof, managing partner of Goodwell: “The foundations of the African economy are strengthening thanks to a growing ambitious young population and rapid expansion of digital infrastructure that enables innovative companies to reach large groups of consumers that lack access to affordable basic products and services. We are more optimistic than ever at the opportunities this provides for inclusive high-growth companies on the African continent, especially now that companies in other sectors and markets are facing challenging times. The past few years have once again proven that African companies with this social impact can withstand turbulent times while doing well financially”.

Invest International’s investment aligns with its mission to support the Dutch business community in finding growth markets and contribute to the Sustainable Development Goals (SDGs). Eelco Benink, Head of Equity at Invest International: “We can only achieve the UN Sustainable Development Goals by working together. We look forward to working with Goodwell in Africa. Goodwell has a strong local presence, and this partnership extends our reach in emerging markets and links it directly to growth opportunities for the Dutch business community in the agro-food sector and other sectors”.

Goodwell Investment and its Nigerian partner Alitheia Capital, together with over 20 years of experience in impact investing, are now focusing on growing the portfolio to around 30 to 35 investments and expanding the circle of investors with family offices and institutional investors embracing the opportunities African countries and businesses offer.