Bamboo Capital Partners, an impact investing platform, together with the Government of Togo and Moeda Seeds Bank, a Brazilian micro-finance technology company, today announce the launch of the Bamboo Capital Partners, Government of Togo and Moeda Seeds Bank launch the Bloc fund at the African CEO Forum in Kigali, Rwanda.
Bamboo Capital Partners, a commercial private equity firm making investments that matter, finds game-changing businesses then applies a mix of geographical and sector expertise to deliver financial and social returns.
BLOC is the first impact fund in the world which uses blended finance to exclusively invest in companies that use new technologies, in particular Blockchain, to benefit the low- and middle-income populations in emerging markets.
Florian Kemmerich, Managing Partner of Bamboo Capital Partners, commented:
“For the last two decades, Bamboo has played a pioneering role in developing funds that harness the power of technology to leapfrog poverty in emerging markets. Today, the BLOC Fund represents a new frontier for global technology impact funds. BLOC’s blended finance approach will catalyse further investment and generate lasting impact in some of poorest regions in the world.”
It demonstrates the joined ambition from public and private investors to tackle social and environmental challenges, leveraging innovative business models leapfrogging emerging markets and poverty. The Fund will focus on five key sectors: energy, education, FMCG, financial inclusion and healthcare.
The Fund, which has a target size of €100 million, has received €10 million of first loss capital commitments from the Government of Togo and Moeda Seeds Bank. The first loss commitments will de-risk investments, catalyse follow-on funding from other public and private investors and generate lasting impact in emerging markets.
Taynaah Reis, CEO, Founder and Chairwoman of Moeda Seeds Bank, said:
“Moeda has partnered with Bamboo and the Government of Togo because it provides us with an opportunity to expand our highly successful business model on a global scale. Moeda has a successful track record scaling projects using blockchain, which provides both efficiency and transparency.”
BLOC will leverage on Moeda’s technology expertise to provide investors full traceability of their investments. It will innovate by accepting and investing in both hard currencies (EUR, USD) and cryptocurrencies, using a KYC platform to convert the latter into either EUR or USD. Bamboo will manage the BLOC Fund.
Cina Lawson, Minister of Posts, Digital Economy and Tech Innovation, added:
“BLOC demonstrates Togo’s leadership in Africa in pioneering new technologies and Blockchain to generate positive social impact, fully in line with the third pillar of its National Development plan which aims at consolidating social development and strengthening inclusion mechanism. Through this first loss commitment in the Fund, the President of Togo his Excellency Mr. Faure Essozimna Gnassingbe proves its willingness to foster the development of tech companies which are focused on achieving the Sustainable Development Goals. BLOC is the perfect investment vehicle to attract the most innovative international companies developing tech solutions which can improve the living conditions of people in Togo and across Africa. It will also serve to support local tech entrepreneurs to grow their businesses providing them capital and tech expertise.”