Government of Canada

Foreign Affairs, Trade and Development Canada

Project profile: A New Partnership for Sustainable Impact Investing in Frontier Markets

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Basic Information

Project Number:
Maximum CIDA Contribution:
Executing Agency — Partner:
Start — End:
2013-06-21 — 2028-06-21


  • Asia multiple countries: 40%
  • Africa multiple countries: 30%
  • Americas multiple countries: 30%


This project aims to reduce poverty by supporting the development of small and medium enterprises, which play a vital role in creating jobs and generating wealth in developing country markets. The project supports the launch of a 15-year investment fund that leverages private equity investment of up to $400 million to help up to 250 of the most promising small and medium enterprises in developing countries grow, thereby creating at least 15,000 new jobs.

Through investments and technical assistance, the project also aims to increase access to products and services for up to 10,000,000 individuals, improve socially responsible business practices and generate additional revenues for small and medium enterprises and governments.

This project is a collaboration among the Mennonite Economic Development Associates, Sarona Asset Management, and the MaRS Centre for Impact Investing. The project is part of Canada's commitment to promoting sustainable economic growth globally.


Private sector development
  • Formal sector financial intermediaries (024030): 40%
  • Small and medium-sized enterprises (SME) development (032130): 40%
  • Business support services and institutions (025010): 20%


Expected Results

The expected intermediate outcomes for this project include: over the life of the fund, (i) expanded and improved investment services provided by 12 to 18 investment funds to up to 250 small and medium enterprises; and (ii) strengthened capacity for economic growth, job creation, reporting and social impact among 15 to 20 investment firms and up to 250 small- and medium- sized enterprises.

Related Information

Information not available


Contracts, Grants and Contributions

Recipient NameDateType
MEDA - Mennonite Economic Development Associates of Canada2013-06-20Contribution