Umunthu II is an impact investment fund dedicated to supporting inclusive businesses in Africa.
Goodwell Investments and Alitheia Capital have announced the first close of the uMunthu II Fund at $60 million. The fund, managed by Goodwell Investments, aims to catalyze sustainable socio-economic development and empower underserved communities across the continent. Umunthu II’s first close marks a significant milestone in its mission to address the financing gap faced by impact-driven enterprises in Africa.
The fund’s capital raise was led by a diverse group of international investors. With the funding, Umunthu II is well-positioned to provide crucial support to inclusive businesses that address social and environmental challenges while generating financial returns. The fund’s investment strategy focuses on sectors such as financial services, agriculture, healthcare, and clean energy, targeting companies that have the potential to generate sustainable impact at scale.
Hohm Energy, a South African climate tech startup, has raised $8 million in seed funding to accelerate its mission of bringing affordable and accessible rooftop solar solutions to individuals and businesses across the country.
Nigerian-based merchant solution platform Traction has secured a $6 million seed to scale its operations.
The African Development Bank Group has announced a $75 million financing package to support Export Trading Group (ETG), a Mauritius-based conglomerate with extensive operations throughout Africa.
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