Founded in 2009, GAWA Capital is the leading impact investing advisory firm in Spain. We seek to improve the lives of low-income communities by promoting investment in social enterprises, whilst also providing a financial return to investors. 

Since its inception, GAWA has pioneered the introduction of the impact investing asset class in Spain, having launched three funds, in addition to advising a third-party fund - Magallanes Impacto FIL. Each of these funds invest equity and debt in emerging countries, in companies focused on providing market-based solutions to key societal issues such as poverty. To date, GAWA has advised over EUR 173 million, with investments in 15 countries and a positive track record of 6.34% annual IRR to investors in our first fund.

Why we do what we do

We believe that real, transformative change can only be driven by financially sustainable business models that provide tailor-made solutions to critical issues such as poverty or climate change. More and more of these social enterprises are appearing around the globe, yet lack access to the funding which will enable them to reach their full potential. Impact investors aim to close this funding gap, attracting private investment to these companies by offering investors tangible social impact alongside a financial return. Learn more about Impact Investing.

How we do what we do

GAWA focuses on emerging countries, carefully selecting companies that provide opportunities for low-income communities to boost their livelihoods. We seek companies that have a true social mission and a sustainable business model, balancing social impact with a market-rate of return for investors. 

Social impact is key to our philosophy, and thus inherent throughout our investment process. We seek to maximise the social imprint of our investees, carrying out an exhaustive Social Due Diligence prior to investment and actively improving investee social performance post-investment with Technical Assistance. Social covenants are present in all contracts and GAWA's performance fees are linked to the social impact of each investee, which is measured and managed throughout the life of the investment.


Return + profit



MSME lenders



Other social Enterprises

Low Income Communities



for Investors

Social impact for Low Income



Since 2009, GAWA Capital has sought to maximise the social impact of the investments it has advised upon, having built up extensive experience in the field and a solid track record on the way.










Rural clients 

supported by



Female clients 

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Annual IRR to

investors in

our first Fund




Sustainable Development Goals SDG
SDG Goal 01 - No Poverty
SDG Goal 06 - Clean water & Sanitation
SDG Goal 02 - Zero Hunger
SDG Goal 07 - Affordable & Clean energy
SDG Goal 03 - Good Health & Well-being
SDG Goal 08 - Decent work & Economic gro
SDG Goal 04 - Quality Education
SDG Goal 10 - Reduced inequalities
SDG Goal 05 - Gender Equality
SDG Goal 11 - Sustainable cities & Commu


Nations SDGs


to via investments

Real people, real stories

Meet some of the people whose lives have changed thanks to investments advised by GAWA. The funds we advise invest in companies that have a strong social impact, as can be seen from the stories below. In line with GAWA's focus on tangible social impact, we visit as many end-clients as possible during our investment Due Diligence trips. Read more below to see how some of these people have improved their qualities of life, or click on the link underneath to meet some of the clients we have visited during our travels.


LOLC Myanmar

Daw Thinzar Oo is an entrepreneurial woman who created her own tomato sauce and turned it into a business in Yangon, Myanmar. She started cooking at home and sold the sauces individually, as the business grew, she found herself in the position of opening a small store, but in order to do so she needed a loan. Daw Thinzar turned to LOLC Myanmar for their help and they had no problem with letting her borrow the money. Over the years several loans where given out to Daw Thinzar, as the business kept growing. The tomato enterprise is set to expand through other regions and she could not be more grateful for LOLC Myanmar's support. She enjoys a comfortable and happy life, her kids have a private education and she is able to ride her own car. The business has also led to more employment within the community and the possibility of health insurance for her employees.

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Our Values are present in everything we do


We are determined to go beyond industry standards in our investment analysis. With a strict investment selection process, we strive for the best possible understanding of our risks and opportunities.


We share an active desire for improving the standards of living of those who need it the most. We do this by truly engaging with these communities and making all efforts to understand the hardships they face.

We believe that the sum of small acts of kindness and generosity in our day-to-day pave the way to a brighter future. We believe in sharing our experiences and learning from each other. 



We are driven by a fierce responsibility towards our stake-holders. We have an open mind, but are inflexible in our intention to deliver social impact in a financially sustainable way.


We are actively seeking new, innovative ways to deliver on our promise and are not afraid to try new models and improve along the way. We balance this proactive approach with our thirst for understanding risks.


GAWA Capital's clients' trust is one of our biggest assets - we are determined to act with the highest standards of integrity and transparency in order to preserve it. We seek the same mindset in the companies we work with.

© 2021 by GAWA Capital Partners SGEIC, S.A.