Maj Invest Financial Inclusion Fund III has successfully completed Final Closing with a total commitment of USD 183m (approx. DKK 1,230m) from institutional investors, industry foundations, family offices, and with the Danish pension fund PKA as cornerstone investor.
Jon Johnsen, CEO at PKA, says: “We are very happy to contribute to more financial inclusion in emerging markets. With this investment some of the world’s poorest will be given increased opportunities for savings, lending, and investment, which will improve their livelihood and generate a self-supporting income for families and local communities”.
The fund is the third closed-end private equity inclusion fund and a continuation of over a decade of investing with growth capital in financial institutions servicing a client group of billions of people below the middle class in selected countries in Latin America, Africa, and Asia - with focus on India.
Investment targets have a strong digitization and fintech strategy and a well-established ESG impact strategy adhering to international standards. This is the third fund investing in financial services in emerging markets, and the two predecessor funds have excellent track records both in terms of financial return and ESG impact.
Kasper Svarrer, Managing Partner for Financial Inclusion at Maj Invest, says: “Digitization and fintech is transforming the financial services sector in Emerging Markets - increasing the potential outreach to the clients at the base of the pyramid, improves product fit, and lowers distribution costs.”
The fund has already completed three investments out of an expected total of 8-9 investments. In addition, two investments are currently in transaction. The pipeline is very attractive due to the team’s well-established position in the market. The team based in Copenhagen, and on the ground in Latin America and Asia with highly skilled investment professionals. The team exercises active ownership and occupy positions as directors on the boards of the portfolio companies, contributing with strategy development and industry best practice knowledge.
For more information, please contact:
Kasper Svarrer, Managing Partner Financial Inclusion
+45 33 38 73 60
ksv@majinvest.com