Part of ANDE’s Gender Equality Initiative, the Gender Lens Investment Pay for Results Fund aims to use grant capital to test models for increasing investment into women-led SGBs in developing economies.
For over ten years, ANDE has been running catalyst and challenge funds targeting entrepreneurship support organizations within the SGB sector in developing economies. These funds help to build the capacity of the recipients to address gaps in the SGB sectors as well as provide innovative solutions to different social and environmental challenges in developing economies.
In 2019, ANDE launched the ANDE Gender Equality Initiative (AGEI) and has since implemented different challenge funds targeted at addressing different gender issues in the SGB sector. The Gender Lens Investment Pay for Results Fund is one of such funds targeting investors seeking to increase gender impact in their portfolio.
About the Fund
ANDE will provide grants of $20,000-$50,000 to support investors seeking to increase the gender impact of their portfolio. These grants are intended to cover costs associated with developing the systems and processes necessary to take a gender lens approach to investment. The grants will go directly to investors and will use a “pay for results” structure in which the grant payment will be contingent upon completed investments with a clear path to gender impact. Applications are closed and grantees will be announced in March-April 2022.
In March 2022, ANDE announced four winning organizations out of more than 72 total applications.
- Alitheia IDF Fund, the first dedicated gender lens investing fund in Africa. This project will aim to build capacity in pipeline SGBs that are not quite investor-ready through their existing Nzinga program and they will build value for women in portfolio companies.
- Brightmore Capital, an investment management and advisory firm that believes that private equity is a key driver in ensuring sustainable growth and long-term economic prosperity. In their project, they will aim to deploy impactful capital into Senegalese SGBs and provide strategic support for their investee companies to support them in reeling their ability to push forward positive impact for gender equity in West Africa.
- EcoEnterprises Fund, a women-led venture fund with an unparalleled track record of over 20 years building nature-positive, gender-smart portfolios. With this project, they will enhance both their environmental & social evaluation processes to ensure insightful gender data is captured at the commencement of the process (i.e. due diligence) during due diligence and throughout the investment process.
- Insitor, an impact fund manager investing early-stage equity in emerging and frontier Asian markets. Under this project, Insitor intends to hire an employee fully dedicated to improving their internal systems and processes to unlock gender-smart investing practices of their funds.