WATERLOO, ON, May 19 /CNW/ - Sarona Asset Management announced today
that its Sarona Frontier Markets Fund I LP has committed US$3,500,000
to two private equity funds: US$2,000,000 to the South Asia Clean
Energy Fund and US$1,500,000 to the Fanisi Venture Capital Fund.
With these latest commitments, Sarona is strengthening its support of
frontier market small and medium enterprises (SMEs) through its fund
managers, in particular within India and East Africa. Sarona's most
recent commitments continue its impact investing approach,
strengthening communities and the environment with investments in clean
energy technology, agribusiness, financial services, healthcare,
education and information and communication technology (ICT). These
investments will also solidify Sarona's ability to provide premium rate
financial returns to its investors.
"Investments in frontier market SMEs that serve the needs of increasing
domestic and regional consumer demand will allow for the growing
prosperity, health and wellness of millions within the middle and lower
middle classes," said Gerhard Pries, President of Sarona. "Companies
that serve their communities and protect the environment are able to
financially outperform their peers. We are encouraged by the positive
impact of such companies around the world, and are excited to be a part
of a society's economic development."
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 emerging and developing
country markets around the world.
SOURCE Sarona Asset Management Inc.
For further information:
Sarona Asset Management