Opic makes Unreasonable investment
Posted on 04 January, 2017 by Thierry Heles, editor
The US government’s development finance institution has committed up to $5m to Unreasonable Capital’s first fund aimed at Latin America, India, Asia and Africa.
Overseas Private Investment Corporation (Opic), the development finance institution of the US government, has committed to providing up to $5m to VC firm Unreasonable Capital’s Fund I.
The firm is focused on companies that tackle social and environmental issues in underserved communities in Asia, Africa, India and Latin America. The fund will particularly seek out businesses in the areas of energy access, fintech and mobile phone technologies with applications in agriculture and artisan-driven fashion.
Unreasonable Capital collaborates with Unreasonable Group, a network of accelerators across the world that target early-stage startups working on solving these same social and environmental challenges.
Elizabeth Littlefield, president and chief executive of Opic, said: “Opic is delighted to support Unreasonable Capital as the fund invests across several regions and in a variety of sectors, from energy access to financial technology, that will have a positive development impact.
“Unreasonable Capital’s approach of investing in early-stage companies and providing operating support will have a long-lasting impact on the underserved communities in those regions.
“Opic is committed to helping the private sector enter into emerging markets and pursue opportunities in some of the world’s largest and fastest growing economies that are often overlooked by private investors.”
See more from this Government Report: US
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