PG Impact Investments, a global impact investment firm, has recently invested in Apis Growth Fund II, L.P. (“Apis II”), an emerging market-focused private equity vehicle managed by Apis Partners LLP (“Apis Partners”). Apis II will invest in growth-stage companies engaged in financial services and related business services, specifically in the sectors of payments, credit and savings, insurance, financial technology and capital markets.
Despite the strong development of digital infrastructure across emerging markets, which is connecting more and more people to formal financial services and reducing distribution costs for financial service providers, an estimated 1.7 billion people still lack access to regulated financial services such as insurance, savings accounts, debit cards and credit. Additionally, 65 million or 40% of Micro, Small and Medium Enterprises (“MSMEs”) in developing countries have unmet financing needs, with access to capital being frequently identified as a critical barrier to growth. PG Impact Investments seeks to address these issues through its collaboration with Apis Partners.
Apis II aims to deliver strong financial returns alongside positive social impact by building a diversified financial services portfolio that increases access, quality and affordability of financial services for MSMEs, financially excluded populations and emerging consumers across Africa and Asia.
Apis Partners’ current portfolio companies collectively serve more than 25 million individual customers directly and over 32’500 MSMEs, across 241’500 financial services distribution touch points, in 138 countries of operation. They process over 471 million transactions worth USD 8.4 billion, and employ more than 16’000 full-time employees across Africa and Asia, 32% of whom are female.
Apis Partners’ deep understating of its target sectors and markets as well as its proven ability to add value to investees through their expertise and network were additional drivers of PG Impact Investments’ decision to invest in the fund.
About PG Impact Investments
PG Impact Investments was founded in 2015 with the vision that private investment, innovation and entrepreneurial talent can provide solutions to the challenges faced by our society, as well as create sustainable growth. PG Impact Investments is a private sector, mission-driven, global investment firm specializing in investment solutions aimed at delivering financial returns as well as creating a positive social and/or environmental impact. It manages investment strategies for an international clientele of professional investors who are seeking investment solutions that offer market-rate returns, while also helping to address pressing social or environmental challenges. All profits from the business activities of PG Impact Investments are transferred to PG Impact Investments Foundation. The Foundation supports social initiatives and social businesses ventures that otherwise would not receive funding through commercial investors or investment funds. Whilst being independent from Partners Group, PG Impact Investments entities are backed by Partners Group and its employees, and benefit from the global infrastructure, investment know-how and specialist resources of this leading global private markets investment manager. www.pg-impact.com
About Apis Partners
Apis Partners is a private equity asset manager that supports growth stage financial services and financial infrastructure businesses in Africa and Asia by providing them with catalytic growth equity capital. Apis Partners is highly conscious of the developmental impact that the provision of growth capital for financial services in growth markets can achieve, and as such, financial inclusion is a core tenet of its approach and investment mandate. Apis Partners’ team is comprised of over 20 professionals with specialised expertise in financial services and technology in growth markets. For more information, visit www.apis.pe
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