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Rural Impulse Fund II

Luxembourg

Last updated 13 May 2020, by Impactyield.

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Fund geography

Emerging countries (256)

Rural Impulse Fund II (RIF II) is a microfinance investment vehicle investing in financially sustainable rural microfinance institutions (MFIs) that provide financial services adapted to the needs of the rural poor.

The fund invests in debt and equity and provides technical assistance to a number of selected partner MFI's.

RIF II pursues a double-bottom line objective of increasing outreach and impact of rural MFI's, to the benefit of the rural poor; and of providing investors with an attractive financial return.

It is a successor to RIF I, a highly successful rural microfinance fund launched in 2007 by Incofin Investment Management. RIF II was initiated in June 2010. It raised an amount of EUR 86M during its first closing. In June 2011, a further EUR 11M was raised, bringing total assets under management to EUR 97M. RIF II still has room for subscriptions to senior notes for an amount of EUR 23M.



Financial description

Rural Impulse Fund II is a closed-ended fund restricted to institutional and well-informed investors. The fund issues shares and attracts debts via notes and loans, up to a debt-to-equity ratio of maximum 1.
The fund provides loan and equity financing for rural MFIs. Part of the investments in microfinance institutions is in local currency.

13 years

of track record

2010

the year funded

120,000,000 EUR

AUM

Interested in this fund?
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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

Incofin Investment Management

Website

Headquarters location:

Other funds managed by this asset manager: Rural Impulse Fund I

SDG goals

SDG targets

Increase access to financial services and markets

Key performance indicators

Fund overview

Asset manager: Incofin Investment Management

Product track record: Fund has 13 years of track record

Target IRR: 13%

Committed Capital: 97,000,000 EUR (Euro)

Target return category: Risk-adjusted market-rate of return

Fund domicile:

Product status:

Style/Stage:

Inception year: 2010

Vintage year: 2010

Target region:

Target close date: 01/12/2011

Product term: 10 years extendable with 2 times 1 year

Assets under management: 120,000,000 EUR (Euro)

Investment size: Min: 500,000; Max: 5,000,000; Avg: 1,700,000

Co-investment policy:

Currency of investments:

Currency for fund / product figures:

Fund investments to date: 27

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: International Finance Corporation, European Investment Bank, KfW, Belgian Investment Company for Developing Countries (BIO), FMO, Proparco, Storebrand, BNP Paribas Fortis, ...

Limited Partner / Investor Type: Development Finance Institution (DFI), Pension Funds, Other Institutional Investors

Contact

E-mail: n.a.

Website: http://www.incofin.be

Phone number: +32 (0)3 829 25 37

If you wish to have your details removed from this database please email gdpr@impactyield.com


Impact Performance

n.a.

Impact thesis

RIF II invests in financially sustainable MFI's that have a rural focus, ie. have 50% or more of their branches located in rural areas (minimum 30%).
The main impact objectives are to:
strengthen rural MFIs' financial structure and capacity
improve outreach and impact of rural MFIs and provide opportunities to rural poor
act as a catalyst so that rural finance becomes an investible asset class

During the investment process, potential investees are screened on both financial and social criteria, with both being equally importance factors in the investment decision. To assess social performance, Incofin IM has developed and is using a proprietary Social and Environmental Performance Measurement Tool, called ECHOS©.
After investing, the fund provides technical assistance to facilitate the development of partner MFIs. Technical assistance interventions cover specific needs and weaknesses of MFIs, in fields such as governance, product development, management information systems, marketing, ...

Impact Management

n.a.

Financial benchmark

Term Description:

Keywords