Gimv and Incofin cvso invest €1 million each in Incofin Investment Management
Antwerp (Belgium), 20 November 2012 – The social impact investment company Incofin Investment Management (Incofin IM) is entering into a partnership with the European listed investment company Gimv. Thus Incofin IM, which manages funds that invest in microfinance institutions and fair trade organizations, is opting for further internationalization, innovation and professionalization. This investment will allow Incofin IM to tap new markets and launch innovative investment funds that continue to focus on a balance between financial and social return.
In Gimv, Incofin IM has found a neutral partner with a strong financial foundation and a long-term vision, with an eye for Incofin’s social mission. European investment company Gimv has three decades of experience in private equity and venture capital. Thus, the investment company has at its disposal extensive expertise in fund structuring and capital participations. The partnership between Gimv and Incofin IM will contribute to the transition Incofin IM is making in order to comply with the European AIFM Directive (Alternative Investment Fund Managers Directive), with which impact investment funds must comply in the near future.
“Gimv has strong knowledge and expertise that will stimulate us to become even more professional, enabling us to position ourselves more firmly in the European investment landscape. We will continue to be a social impact investor and will now have the resources available to launch new innovative projects,” says Loïc De Cannière, CEO of Incofin IM.
Stimulating international entrepreneurship
Today the investments of Incofin IM already support more than 6 million small companies in Latin America, Africa, Asia and Eastern Europe. In the future, Incofin will tap into new markets and thus stimulate a growing number of entrepreneurs worldwide in their development of a sustainable future. “Incofin IM is a good example of a growing company that has succeeded in using its domestic market as a basis to expand internationally. As a leading player in the microfinance sector, Incofin IM can count on the long-term commitment and support of Gimv for its further international expansion. This is how Gimv will be able to contribute to a sustainable future for small companies in developing countries,” says Marc Vercruysse, Gimv’s Chief Funding.
Incofin cvso, Incofin IM and Gimv: partners for the long-term
In line with its CSR policy, in January 2010, Gimv also became a shareholder of the microfinancing fund Incofin cvso, which is managed by Incofin IM. The partnership announced today further expands the already existing relationship between the three parties. In 2009, the fund management activities constituted a part of Incofin cvso, but these were made independent through the establishment of a separate management company, Incofin IM.
“With this triple partnership, we are continuing the process of developing further expertise in fund management at Incofin IM by attracting professional partners,” concludes Frans Verheeke, chair of Incofin cvso.
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About Incofin Investment Management
Incofin Investment Management is a manager of impact investment funds striving to achieve balanced social and financial returns. Incofin IM invests in organizations in developing countries that not only show growth potential and a healthy financial structure, but attach great importance to social aspects and the impact on the communities they operate in. Incofin IM is a client oriented fund manager that actively works together with its investees in a long term partnership.
Incofin IM manages 8 funds and facilities totalling EUR 350 million. The total investment portfolio includes over 120 organizations in more than 40 countries around the world. Incofin IM has a strong track record, having executed more than 400 transactions since 2003. Besides the headquarters in Belgium, Incofin IM also has offices in Colombia, India and Kenya. More information is available on www.incofin.com.
Gimv is a European investment company with over three decades of experience in private equity and venture capital. Gimv is listed on NYSE Euronext Brussels. Gimv currently manages around 1.8 billion EUR (including third party funds) of investments in 85 portfolio companies, which jointly realise a turnover of more than EUR 6 billion and employ over 28,000 professionals. As a recognized market leader in selected investment platforms, Gimv identifies entrepreneurial and innovative companies with high-growth potential and supports them in their transformation into market leaders. More information on Gimv can be found on www.gimv.com.
About Incofin cvso
As impact investment fund Incofin cvso invests in microfinance institutions and sustainable impact initiatives in developing countries. The fund manages about EUR 40 million and has 31 MFIs in 22 countries in its portfolio. Apart from private individuals, Incofin cvso also counts companies, employer and employee organizations, and foundations in Belgium and its neighbouring countries among its investors. The fund was established in 1992 and is managed by Incofin Investment Management.