Accion Frontier Investments Group

United States of America

Last updated 12 May 2020, by Impactyield.

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Accion Frontier Investments Group ("Frontier") is an early and growth stage impact investing fund focused on catalyzing a new approach to financial inclusion. Frontier’s mandate is to go beyond where microfinance is today and invest in disruptive business models and technologies that will radically enhance the efficiency, reach and scope of products and services for the un and underbanked. Through its value-centric approach to investing, Frontier generates both financial returns and social impact.

Frontier identifies companies operating at the highest professional standards and aims to build value for all stakeholders by scaling commercially successful businesses that bring breakthrough innovations in financial inclusion. To accomplish this vision, Frontier leverages Accion’s five decades of experience in emerging markets – including feet-on-the-ground and institutional relationships, operating management strength in each of its regional hubs, global recognition as a leading impact investor, and technical specialists in Frontier’s target sectors. Frontier draws on this sector- and market-specific domain expertise as well as its financial resources and industry network to actively support the growth of its portfolio companies.

Accion Frontier Investments is a solo-LP fund.

Fund status

Financial description

Frontier makes equity or equity-like investments of between US$1 and US$3 million each, with additional reserves for follow-on investments, in scalable early- and growth-stage businesses. Frontier typically makes significant minority investments, where possible alongside complementary co-investors, and seeks board representation to enable active governance and portfolio management.
Frontier invests globally, with a focus on certain core markets in Africa, Asia and Latin America that have attractive enabling environments, entrepreneurial ecosystems and large market opportunities.

15 years

of track record


the year funded



SDG goals

SDG targets

Safe and affordable housing

Double the improvement in energy efficiency

Increase access to financial services and markets

Impact Category


Key performance indicators

Fund overview

Asset manager: Accion

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:

Product status:

Style/Stage: ,

Inception year: 2008

Vintage year: 2009

Target region: ,

Target close date: n.a.

Product term: n.a.

Assets under management: n.a.

Investment size: Min: 750,000; Max: 5,000,000; Avg: 1,500,000

Co-investment policy:

Currency of investments:

Currency for fund / product figures:

Fund investments to date: 9

Fund investments to date exited or repaid: 0

Management fee: n.a.

Carried interest: n.a.

Hurdle rate: n.a.

GIIN Investors' Council Investment: Yes

Limited Partners / Investors: Accion International

Limited Partner / Investor Type: n.a.




Phone number: 202-393-5113

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Impact Performance


Impact thesis

Frontier invests in three sectors that promise to revolutionize financial services for underserved markets:
Technology: Information management systems(e.g. cloud computing), data analytics (e.g. credit scoring), payment and technology platforms, and business process automation and outsourcing that enhance the efficiency of, and improve the reliability and scalability of traditionally paper- and people-intensive financial service models.
Distribution: Mobile financial services, ATMs, cards, point of sale devices, retail agents, internet and other branchless banking payment systems that lower costs and expand outreach.
New Products: Microinsurance, housing and education finance and other financial services that address demands at the base of the pyramid beyond microcredit.

Impact Management


Financial benchmark

Term Description:


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