UOB Venture Management said Monday it will launch a second impact investment private equity fund for Asia later this year, with plans to invest in the region’s education, healthcare and agriculture sectors.
“The fund will also seek investments in the areas of financial inclusion, affordable housing, clean energy, water and sanitation. The impact generated by portfolio companies will be measured and tracked regularly,” UOBVM said in a press release.
The fund, the second series of UOBVM’s Asia Impact Investment Fund (AIIF II), will be made available to global institutional and accredited investors, the company said.
AIIF II will consider the positive impact its potential investments will have on low-income communities, as well as considering the companies’ ability to grow sustainably, UOBVM said.
“Impact investing is one way we help bring about and sustain responsible growth. Through AIIF II, we want to support more entrepreneurs and companies that are able and are committed to working with low-income communities in overcoming challenges,” Seah Kian Wee, managing director and CEO of UOBVM, said in the statement.
“By providing the financing they need to develop and to build their team, business model, capabilities and solutions to scale, we can help them to do good and to do it well,” he added.
Its investments will range from around US$1 million to US$15 million each, the statement added.
The first fund, AIIF I, has invested in nine companies across China, Indonesia, Myanmar, the Philippines and Vietnam, it said.
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