International aid agency and campaign group Oxfam GB is now an investment fund manager.
Oxfam GB launched Jan. 22 its first investment fund, dubbed the Small Enterprise Impact Investment Fund. It is a joint initiative with Swiss microfinance specialist Symbiotics and is designed to support small and medium businesses in Asia and Africa.
Oxfam GB aims to raise up to $100 million for the fund in three years, according to Reuters. The fund targets 5 percent returns for investors, the Financial Times says.
The fund will be available to businesses with five to 100 employees that are unable to secure mainstream financing to support their operations. Priority will be given to businesses in the agriculture and food sectors, according to the Financial Times.
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