BOARDROOM
Agriculture e-commerce platform raises $17.3mn for supply chain fixes
Indian agri-inputs platform Agrim has raised $17.3mn in a round led by Asia Impact, as it looks to expand to the south and west of the country. Agriculture provides employment for 42% of India’s population, but supply chains of crucial goods like seeds, tools and pesticides are often fragmented. Agrim is working to change this through their just-in-time supply chain. The company is looking to expand its catalogue from 30,000 to 50,000 items within the next three years, and continuing to provide credit to retailers, with the aim of stabilising supply and demand across the country, TechCrunch reports.
Norfund provides $10mn investment to Honduran Banco Popular to support SMEs
Norwegian development financier Norfund has announced a $10mn investment in Honduras-based Banco Popular to support microfinance and lending for SMEs across the country. This is the fifth cashflow from Norfund to Honduras, following investments in renewable energy, as well as two of Honduras’ largest banks. Speaking to Impact Investor, Norfund’s investment manager María Esther Boquín explained that this investment in one of the smallest banks in the Honduran market was made due to its “strong social objectives.” More than 50% of Banco Popular’s customers live in rural areas, and are more susceptible to unstable financing in a country where 51.3% of the population live below the poverty line.
Raven Indigenous Capital Partners announces “multi-million” dollar investment in key data visualisation platform
Raven Indigenous Capital Partners – the only Indigenous-led venture capital intermediary in the US – has announced a multi-million dollar investment in Runwithit Synthetics, a platform that provides modelling and ‘digital twin‘ technology to plan for future natural disasters, Vancouver Tech Journal reports. Runwithit’s platform models the impact of climate, sustainability, energy, or public health challenges, so governments can better future-proof their cities. It is being deployed in cities across North America, and was recognised in the UN’s global call for decarbonisation strategies. This backing will allow the team to recruit and expand the scope of the product.
Mirova closes £211mn for first impact private equity fund
Mirova, a global asset manager affiliated with Natixis Investment Managers has announced a £211mn close for their premiere impact private equity fund, the firm has announced. The fund will focus on innovative technology across the green transition, including the circular economy, energy, agri-tech and cities of the future. It has already invested over £80mn in companies in Europe and North America, and has completed one exit. Mirova had €31.1bn of assets as of June this year, and launched its second impact fund, which is focused on Europe, earlier this year.
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