GAWA has built up a strong track-record via its advisory of four Impact Investment Funds, with EUR 173 million advised. GAWA has launched three of these Funds (Gawa Microfinance Fund, Global Financial Inclusion Fund and Huruma Fund), whilst acting as investment advisor to Magallanes Impacto FIL. GAWA's third investment fund - Huruma - was launched in December 2019 and is currently in subscription phase.
GAWA MICROFINANCE FUND (GMF)
Fund Size: EUR 20.4 million
Launch Date: September 2010
GAWA’s first fund was successfully liquidated at the end of December 2018, having returned a 6.34% annual IRR to investors over its lifetime. GAWA Microfinance Fund focused on investments in Microfinance institutions worldwide. GMF carried out 9 investments in 8 different countries, with presence in Latin America, Asia, Eurasia and Africa (7 debt investments and 2 equity investments).
GLOBAL FINANCIAL INCLUSION FUND (GFIF)
Fund Size: EUR 32.3 million
Launch Date: September 2014
GFIF, GAWA's second fund, executed its last investment at the end of 2017, and since then the Fund has carried out four capital returns to investors. GFIF has focused on investments in Microfinance institutions and Micro & Small Enterprise lenders. The portfolio was made up of a total of 10 investments (7 debt; 3 equity) in 8 countries in Latin America and Asia. To date, three of GFIF’s investments have come to maturity with positive returns.
MAGALLANES IMPACTO FIL
Fund Size: EUR 23 million (Open-ended)
Launch Date: September 2018
GAWA is advising the Fund Magallanes Impacto FIL, the first open-ended impact investing fund in Spain. Magallanes Fund focuses on financial inclusion in Latin America and Asia. The Fund is managed by Magallanes Value Investors SGIIC, S.A., a leading fund management company in Spain. The Fund is supervised by the Spanish National Securities Market Commission (Comisión Nacional del Mercado de Valores - CNMV). Learn more...
Fund Size: EUR 97mn (EUR 120mn target)
Launch Date: December 2019
Huruma Fund (in subscription phase) has a rural & agricultural focus in Latin America & Africa. The Fund enjoys a blended finance structure, with EUR 10 million first-loss tranche (EU funds, managed by COFIDES - Spanish Development Finance Institution) and EUR 20 million in concessional debt (AECID, Spanish Agency for International Development Cooperation), significantly reducing the risk for investors and enhancing the Fund’s target IRR. EUR 8 million in Technical Assistance (EU funds, managed by COFIDES) are available to investees, helping to truly impulse the social value of Huruma’s investments. Read more about Huruma here.