Theme
Investment

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"The Guide was developed by CDC and IFC with support from the Government of Canada. It is a practical "how to" step by step guide for fund managers on how to strengthen gender diversity within their own firms and incorporate a gender focus into investment operations. It combines learnings from CDC and IFC's experience with over 160 Fund Managers and draws on best practices with a series of case studies from stakeholders across the industry."

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"This discussion paper builds on the results of the Conference Financing Global Development - Leveraging Impact Investing for the SDGs hosted by the German Federal Ministry for Economic Cooperation and Development (BMZ) in Berlin on 21st November 2017.

This paper shares the findings of the session. It aims to foster a conversation around impact measurement and management 2.0 and actively integrating impact incentivization in investment processes. The discussion focussed on how to incentivize the impact investing chain - those who provide capital, those who manage it, and those who receive it - to channel their efforts towards high impact SGBs and to provide adequate support for scaling impact."

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"In search for new models to provide risk capital, mezzanine finance blends elements from traditional Private Equity (PE) and debt financing into a unique product. Its an additional offering in the SME finance ecosystem for missing middle entrepreneurs.

As a relatively young and rather complex segment in the impact investing space, this commissioned study provides an understanding of the specificities, diversity (and complexities) of Mezzanine Financing, critical to spurring innovative thinking on both the fund manager- and investor-sides, so products may be improved and models may be more scalable.

This study is the first of its kind and represents a first step into building small cap SME mezzanine finance as an asset class on its own."

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"The landscape for entrepreneurial finance has changed strongly over the last years. Many new players have entered the arena. This editorial introduces and describes the new players and compares them along the four dimensions: debt or equity, investment goal, investment approach, and investment target. Following this, we discuss the factors explaining the emergence of the new players and group them into supply- and demand-side factors. The editorial gives researchers and practitioners orientation about recent developments in entrepreneurial finance and provides avenues for relevant and fruitful further research."

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"While business accelerators remain understudied in the academic literature, there is growing interest in understanding how accelerators work and where they provide value to entrepreneurs. In this paper, we focus exactly on this question – we examine how mentorship and investor ties, two key aspects observed across accelerators in general lead to positive accelerator outcomes and through them, to longterm firm success outcomes for the start-ups participating in accelerators. Using the full cohort (n=105) of an international accelerator, we follow the progress of the startups during the accelerated period and continue to follow these startups for 15 months. We find that startups that participate more in mentorship events have higher likelihood of achieving short-term outcomes during the accelerator, such as the release of a prototype and generating revenue for the first time. Similarly, startups that develop more investor ties during the accelerator survive and raise capital at a higher rate. Finally, we find evidence that certain short-term accelerator outcomes also increase the chances of survival and investment. On the basis of these results, we provide practical implications for start-ups as well as managers of accelerator programs, in addition to theoretical contributions to entrepreneurship research."

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"NTF4Ag: Emerging Lessons and New Frontiers brings together key results, insights from the case studies, pilots and crosscutting research conducted by MEDA and its partners over the last three years. The report is framed around INNOVATE's four learning themes, which emerged in an iterative manner from the research portfolio along with engagement with key stakeholders through events, conferences, and ongoing dialogue.

This report is aimed at a diverse set of actors in the smallholder finance landscape including the private sector, research organizations, implementing agencies, funders, and policymakers."

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"This new report, Measuring Impact, aligns with existing best practices, and includes seven practical guidelines for good impact measurement, as well as five case studies of impact investment organisations that have successfully put these guidelines to use. In writing the report, the Working Group went through a six-month consultative and research process, which included a review of over 60 industry publications and 45 interviews with experts and practitioners in impact measurement."

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"The aim of this study was to deepen the understanding of the specific practices and methodologies that established impact investors are using to measure the social impact generated by their investments, and to analyze the conditions under which each measurement method is most relevant. The intended audience for our analysis is impact investors themselves, as well as social sector organizations, traditional funders, and evaluators."

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"This paper argues that the time is right for banks to step up their efforts to serve micro-, small and medium-sized enterprises (MSMEs) in emerging markets. There are three reasons for our optimism. First, an estimated 60 per cent of global banking revenue growth over the next decade will lie in emerging markets. Second, more and more banks in emerging markets are finding ways to overcome the difficulties of serving the important MSME segment. Third, innovations in technology, risk assessment and business models are increasingly facilitating their effort. It is not just banks in emerging markets that should grab the opportunity. Western banks will find innovative practices that they can use to refresh and adapt their traditional banking models back home."

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"G7 countries now have a strategic opportunity to scale up green and sustainable finance for SMEs. This could help support and strengthen the role that SMEs can play in connecting business growth, innovation strategies and entrepreneurial efforts with climate action and sustainable development. Mobilizing Sustainable Finance for Small and Medium Sized Enterprises. To this end, a Sustainable Finance Toolbox for SMEs has been developed which contains a range of options for G7 countries to implement on a voluntary basis in partnership with key stakeholders such as financial institutions, SME business associations, public financial institutions, as well as central banks and regulators."

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