Achmea, a Netherlands-based insurance provider; KCD Mikrofinanzfonds, a German microfinance fund managed by Bank Im Bistum Essen eG; and Netherlands-based nonprofit organizations Cordaid and Oxfam Novib have invested a total of USD 22 million in Triple Jump, a Netherlands-based microfinance fund manager, for its new Triple Jump Innovation Fund [1]. The breakdown of the investments among investors has not been released.
The fund, which will concentrate on microbanks operating in rural areas, will increase support for lending products for higher education, water and sanitation, healthcare, small and medium-sized enterprises (SMEs), incremental housing improvements, and clean and renewable energy [1]. Triple Jump will also arrange for technical assistance for organizations receiving investments from the fund.
Triple Jump plans to raise USD 17.5 million in a second round of investments for the innovation fund during the first quarter of 2014.
Triple Jump manages five microfinance investment funds, with total assets approximately equivalent to USD 473 million as of December 31, 2012. KCD Mikrofinanzfonds does not report financial information to the Microfinance Information Exchange (MIX), the microfinance information clearinghouse. of December 2012, Achmea holds total assets of USD 140 million. As of 2012, CORDAID’s annual budget is USD 240 million.
By Megan McGowan, Research Associate
About Triple Jump:
Triple Jump was founded in 2006 to support the expansion of microfinance institutions (MFIs) through the provision of capital and advisory services. Triple Jump was established by the NOTS Foundation, a Dutch development organization; Oxfam Novib, a Dutch organization for international cooperation and development; and ASN Bank, a “sustainability-driven” Dutch bank. Its shares are divided among these organizations and Triple Jump’s management team. Triple Jump is comprised of Triple Jump Fund Management (TJFM) and Triple Jump Advisory Services (TJAS). TJFM provides its clients with four investment options: hard and local currency loans, equity, guarantees and subordinated loans. TJAS is an independent foundation that provides consulting services and technical assistance to tier-3 and tier-4 MFIs. Triple Jump manages five microfinance investment funds, with total assets approximately equivalent to USD 473 million as of December 31, 2012. Its investments span 132 MFIs in 60 emerging markets in Latin America, Eastern Europe, Africa and Asia.
About Achmea:
Achmea is an insurance company based in the Netherlands that offers life, health, and pension products. It was formed in 1995 as a result of a merger between Zilveren Kruis and Avero Centraal Beheer Groep (AVCB). Achmea is active in eight European countries. As of December 2012, Achmea holds total assets of USD 140 million.
About CORDAID:
The Catholic Organization for Relief and Development (CORDAID), is a Netherlands-based international development organization. CORDAID works in 36 countries in Africa, Asia, and Latin America. As of 2012, CORDAID’s annual budget is USD 240 million. In 2012, Oxfam Novib reported spending USD 142.4 million on development projects throughout the world.
About KCD Microfinanzfonds:
KCD Mikrofinanzfonds is a microfinance investment vehicle (MIV) established in Luxembourg in February 2009. In April 2011, its annual label was renewed by the Luxembourg Fund Labeling Agency (LuxFLAG), an organization that investigates whether investment vehicles actually support the microfinance sector. It is promoted by German bank Bank im Bistum Essen. KCD Mikrofinanzfonds does not report financial information to the US-based NGO Microfinance Information Exchange (MIX).
About Oxfam Novib:
Oxfam Novib is a Dutch nonprofit development organization that aims to ensure that poor people have access to basic rights via poverty alleviation and emergency aid. It was founded as the Netherlands Organisation for International Assistance (Novib in Dutch) in 1956, and in 1994 it changed its name to Oxfam Novib upon joining Oxfam International, a confederation of 14 development agencies. In 2012, Oxfam Novib reported spending USD 142.4 million on development projects throughout the world.
Sources and Additional Resources
[1] Triple Jump Press Release: New Fund Launched by Triple Jump, Innovating Microfinance
MicroCapital.org, “Arab Centre for Agricultural Development, European Investment Bank, Grameen Credit Agricole Microfinance Foundation, Solidarite Internationale Pour Le Development et L’investment, Triple Jump Sign $5.3m Agreement to Support Microfinance in Palestine,” October 8, 2013, https://www.microcapital.org/microcapital-brief-arab-centre-for-agricultural-development-european-investment-bank-grameen-credit-agricole-microfinance-foundation-solidarite-internationale-pour-le-development-et-linve/
MicroCapital.org, “WEMAN Global Launches Gender Finance Resources, Promotes Gender Mainstreaming,” March 6, 2012, https://www.microcapital.org/microcapital-brief-weman-global-launches-gender-finance-resources-promotes-gender-mainstreaming/
MicroCapital Universe Profile: CORDAID, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=CRS+CORDAID+Microfinance+Alliance+Fund
MicroCapital Universe Profile: KCD Mikrofinanzfonds, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=KCD+Mikrofinanzfonds
MicroCapital Universe Profile: Oxfam Novib, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Oxfam+Novib
MicroCapital Universe Profile: Triple Jump, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Triple+Jump
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.
Similar Posts:
- MICROCAPITAL BRIEF: Energy Entrepreneurs Growth Fund (EEGF) Raises $125m to Increase Access to Energy in Sub-Saharan Africa
- MICROCAPITAL BRIEF: Visa, Oxfam to Expand B-READY to Provide Pre-disaster Cash Assistance in Colombia, Kenya, Puerto Rico
- MICROCAPITAL BRIEF: AFI Invests $5m in Microfinance Institution AFK of Kosovo from Invest in Visions (IIV)
- MICROCAPITAL BRIEF: Agents for Impact Disburses $8m from Invest in Visions (IIV) to Microfinance Institutions Digamber of India, Imon of Tajikistan
- MICROCAPITAL BRIEF: Global Partnerships, Goodwell, Oikocredit Invest $8.5m in Equity in Good Nature Agro to Boost Profits of Small Farms in Southern Africa
