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Fund geography
The DWM Microfinance Equity Fund, launched in 2009, takes equity stakes in inclusive financial institutions in emerging and frontier markets. This includes microfinance institutions, small and medium enterprise (SME) lenders, and education and housing lenders that serve the Bottom of the Pyramid. The Fund aims to deliver risk-adjusted capital gains to institutional investors as well as positive social and economic impact. The Fund was fully invested within its 3 year investment period.
Asset class
Fund status
Fund style
Not listed
Financial description
The Fund has $82 million AUM with equity stakes in 16 inclusive financial institutions in 10 countries. The average investment size is USD 4.5 million.
DWM seeks to drive value in portfolio companies across the following areas: governance and control, management capacity, operations, balance sheet and business strategy. DWM's preferred exit strategy is through strategic buyers.
15 years
of track record
2009
the year funded
82,000,000 USD
AUM
Interested in this fund?
Log in or create an account to request more information.
Gain a deeper and comprehensive understanding of how this fund generates positive impact in the themes and SDGs that matter to you, with insights provided by our dedicated team of expert analysts, and receive notifications about new available impact products, exciting investment opportunities, and relevant updates in the world of impact investing.
Asset manager
Developing World Markets
Headquarters location: United States of America
Other funds managed by this asset manager: DWM Microfinance Fund J
Impact Category
Key performance indicators
Fund overview
Asset manager: Developing World Markets
Product track record: Fund has 15 years of track record
Target IRR: n.a.
Committed Capital: n.a.
Target return category: Risk-adjusted market-rate of return
Fund domicile: Luxembourg
Product status: Closed - no longer investing
Style/Stage:
Inception year: 2009
Vintage year: 2009
Target region: Africa, Emerging countries
Target close date: n.a.
Product term: 8 year term +2x 1 year extensions
Assets under management: 82,000,000 USD (US Dollar)
Investment size: Min: 0; Max: 0; Avg: 4,500,000
Co-investment policy:
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
Fund investments to date: 16
Fund investments to date exited or repaid: 2
Management fee: n.a.
Carried interest: n.a.
Hurdle rate: 7%%
GIIN Investors' Council Investment: Yes
Limited Partners / Investors: TIAA-CREF, APG, SNS Asset Management
Limited Partner / Investor Type: Pension Funds, Other Institutional Investors
Contact
E-mail: kathryn@dwmarkets.com
Website: https://www.dwmarkets.com/
Phone number: 203-655-5453
If you wish to have your details removed from this database please email gdpr@impactyield.com
Brad Swanson
Partner, Private Equity Manager
Simone Balch
Director, Investor Development & Relations
Impact Performance
n.a.
Impact thesis
The Fund invests in microfinance institutions, small & medium enterprise (SME) lenders, and other inclusive financial institutions including education and housing lenders in emerging and frontier countries. According to the World Bank, more than 2.5 billion people lack access to basic formal financial services in developing countries. The Fund's mission is to address this sizable and particularly under-penetrated market segment.
DWM is committed to ensuring its investment decisions create socially positive results for the global community. DWM's investment philosophy also includes the protection of microfinance borrowers who represent the ultimate impact of our investments into MFIs. In addition, DWM is committed to incorporating Environmental, Social, and Corporate Governance issues into our investments and other activities. DWM has been and continues to be an early supporter of key industry initiatives including: Principles for Responsible Investment, The Smart Campaign, IRIS, the Global Impact Investing Ratings System (GIIRS), Microfinance Information Exchange and MFTransparency.
DWM developed a social impact measurement questionnaire and scorecard (Social IQs) in collaboration with SNS Asset Management and Oikocredit to collect and analyze social performance of portfolio institutions. DWM uses the Social IQs to evaluate potential investments during the pre-investment due diligence process and then on an annual basis once an investment is made.
Impact Management
n.a.