The Global Innovation Fund is launching a “spinoff” subsidiary, GIF Growth, designed to help early-stage companies scale-up.
The original GIF launched in 2014 with more than $200 million from Western governments’ aid agencies, plus the philanthropic investment firm Omidyar Network. It uses grants, loans and equity to support innovative businesses capable of improving the lives of those living on less than $5 a day.
According to its latest impact report, GIF has invested $119 million since 2015, backing 68 innovations. Examples of investments made last year included $1.8 million in risk capital for a solar-powered food dehydrator in India, and a $230,000 grant for a nonprofit providing a radio drama and classroom sessions in Tanzania designed to prevent sexual violence against adolescent girls.