Last updated 9 July 2020, by Impactyield.
In 2013 SPARK started the IGNITE Fund, aimed to create access to finance for small growing businesses (SGB’s) in fragile and conflict affected states, where SPARK works. In the past years, SPARK has supported over 250 small/starting businesses, in coordination with the local partner banks in each country, through loan guarantee programs of up to 15K Euros in each promising SGB. Some of the select few; who successfully completed the loan guarantee programme; require additional larger funding to scale their successful businesses. The local financial market is not ready or willing to provide the necessary funding to support these businesses that have so far developed a good track record in respect to Spark’s loan guarantee programme. Therefore the IGNITE Fund is created to close that ‘pioneer gap’.
The IGNITE Fund is aiming to be a impact investment vehicle operating in, but not limited to, Liberia, Rwanda, Burundi, South Sudan, Palestinian Territories, Kosovo, and Afghanistan. IGNITE Fund will provide loan, convertible debt, equity and quasi equity investments to promising organizations which are looking to scale its operation and impact.
Incorporation year: 2013
Headquarters location: Netherlands
Currency for fund / product figures: EUR (Euro)
Total firm assets under management: n.a.
Membership and other professional affiliations: Aspen Network of Development Entrepreneurs (ANDE)
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