WATERLOO, ON, May 25 /CNW/ - Sarona Asset Management announced today that its Sarona Frontier Markets Fund 1 LP has made its first five investments in funds focusing on global microfinance, renewable energy in South Asia and small and medium sized enterprises (SME) in Mexico, Africa and India.
Its first two investments were in MicroVest II, LP, a fund that invests in microfinance institutions across the world supporting micro-entrepreneurs and IGNIA Fund I, LP, a fund that invests in SME focusing on the growing middle class in Mexico. It then made an investment in AfricInvest Fund II, LLC, a private equity fund that invests in SME in Africa. Finally, it invested in Renewable Energy Asia Fund, a fund that invests in run of the river hydro, wind, solar and bio-mass infrastructure projects in South Asia and SEAF India Agribusiness International Fund, a fund that invests in agribusiness SME in India.
"We believe these investments will demonstrate that investing in places like Africa and in sectors like microfinance, agriculture and renewable energy will show commercial investors that one can do well and do good," said Gerhard Pries, President of Sarona. "We not only believe strongly in the financial case for SME in developing countries, but also in the ability to achieve positive social and environmental impact through such investments."
Sarona Asset Management is based in Waterloo, ON, and is a co-founder and or manager of a number of impact investment funds, including the Sarona and MicroVest groups of funds. Together, these funds have over $180 million in assets under management in developing and emerging countries around the world.
SOURCE Sarona Asset Management Inc.
For further information: For further information: Gerhard Pries, President, Sarona Asset Management, email@example.com, (519) 883-7557