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Bamboo Capital Partners, Government of Togo and Moeda Seeds Bank Launch a Fintech Impact Fund

Bamboo Capital Partners, Government of Togo and Moeda Seeds Bank Launch a Fintech Impact Fund
Bamboo Capital Partners, an impact investing platform, the Government of Togo, and Moeda Seeds Bank, a Brazilian micro-finance technology company, have announced the launch of a new fintech impact fund with a target portfolio of €100 million.
The fintech impact fund will be targeting companies that use new technologies, especially the blockchain, to solve problems in emerging markets.
The BLOC Fintech Impact Fund
On March 25, 2019, the BLOC fintech impact fund was announced at the African CEO Forum in Kigali, Rwanda. This fund is a collaborative effort between private companies and the government to help tackle social and environmental challenges in energy, education, FMCG, financial inclusion and the healthcare sector in Africa and other emerging markets.
This blended financing model enables the mixing of both public and private funds through a joint investment scheme, with each party deploying their expertise in a complementary way.
The BLOC Fund is the first impact fund in the world that uses blended finance to invest in companies that use new technologies, such as the blockchain, to benefit the low- and middle-income earners in emerging markets. The fund will accept investments in euros (EUR), US dollars (USD), and cryptocurrencies  through a KYC platform to convert the digital currencies into either EUR or USD.
“Today, the BLOC Fund represents a new frontier for global technology impact funds. BLOC’s blended finance approach will catalyse further investment and generate lasting impact in some of poorest regions in the world,” Florian Kemmerich, Managing Partner of Bamboo Capital Partners, said about the fund.
The Government of Togo and Moeda Seeds Bank have already made first loss capital commitments of €10 million to the fund.
Cina Lawson, Minister of Posts, Digital Economy and Tech Innovation, said: “Through this first loss commitment in the Fund, the President of Togo, his Excellency Mr. Faure Essozimna Gnassingbe, proves its willingness to foster the development of tech companies […] focused on achieving the Sustainable Development Goals. BLOC is the perfect investment vehicle to attract the most innovative international companies developing tech solutions which can improve the living conditions of people in Togo and across Africa.”
Using Blockchain to Trace Investments in the Fund
Blockchain allows the creation of valid, immutable records, as well as driving operational efficiencies by removing intermediaries, to enable affordable lending, optimises accountability, monitoring, measuring results and impact.
Moeda Seeds Bank’s expertise in the use of blockchain technology will help the fund create an architecture that ensures transparency and full traceability of investors’ funds. Moeda has already raised $20 million in an initial coin offering (ICO) in August 2017, and its digital token, MDA, is listed on several exchanges including Binance .
Bamboo Capital Partners, experienced in bridging the gap between seed and growth stage funding, will manage the BLOC Fund. Bamboo has raised over $370m for developing countries, impacting over 100 million lives and creating over 30,000 jobs through its investments in over 30 countries.
The post Bamboo Capital Partners, Government of Togo and Moeda Seeds Bank Launch a Fintech Impact Fund appeared first on BitcoinAfrica.io .

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