Capping off a successful year, signing three deals in December and committing a record USD 173 million in 2024 across 12 deals highlights SIFEM’s continued commitment to fostering sustainable development in emerging markets. The investments span diverse regions — including Southeast Asia, Africa, and India — and focus on critical areas such as financial inclusion, climate resilience, and access to quality healthcare.

Overview of Investments in December

1. Navis Asia Credit Fund

• Commitment: USD 15 million
• Investment Strategy: The fund provides senior secured loans to mid-sized enterprises in Southeast Asia, focusing on financial inclusion and bridging gaps in private credit markets. Target sectors include consumer goods, social infrastructure, and light manufacturing, with an emphasis on SIFEM priority countries like Vietnam and Indonesia.
• Development Rationale: This is SIFEM’s first current income fund in Southeast Asia, addressing the underdeveloped credit markets in the region. It is expected to deliver stable returns while contributing to SIFEM’s climate targets through climate-related investments.

2. LeapFrog Climate Fund

• Commitment: USD 15 million
• Investment Strategy: A global emerging markets fund investing in high-growth companies addressing climate challenges in Asia and Africa. Target sectors include energy, mobility, and sustainable agriculture.
• Development Rationale: LeapFrog’s innovative climate strategy aims to future-proof economies impacted by climate change. SIFEM’s investment catalyzed private capital and strengthened LeapFrog’s credibility as a climate impact leader.

3. Somerset Indus Healthcare India Fund III

• Commitment: USD 15 million
• Investment Strategy: The fund invests in middle market growth companies that provide healthcare products and services to underserved regions of India. Its focus includes affordable primary and secondary care, pharmaceuticals, MedTech, and digital healthcare.
• Development Rationale: This fund will seek to expand access to affordable and quality healthcare in India, with a primary focus on underserved populations and Tier II and Tier III cities. The Fund is expected to create formal jobs and promote upskilling and training opportunities.

Jörg Frieden, Chairman of SIFEM’s Board of Directors, said:

“The successful closing of these three investments demonstrates SIFEM’s commitment to driving inclusive and sustainable development in emerging markets. Each investment contributes to our strategic objectives of fostering economic growth, creating quality jobs, and advancing climate resilience and gender equality.”

Ralph Keitel, CIO at SIFEM and Head Fund Investments at responsAbility, said:

“The three successful closings in December alone cap an already successful year, with SIFEM having invested a total of USD 173 million in 2024 – the highest volume since SIFEM was established. As Portfolio Manager, we take pride in these achievements and look forward to deepening our successful cooperation with, and on behalf of, the SIFEM Board.”

Learn more about these investments in SIFEM’s Portfolio Explorer.