OPIC Grants USD$5million to Venture Capital Group in Emerging Markets
Friday, December 30, 2016
The U.S. government’s development finance institution, the Overseas Private Investment Corporation (OPIC) has announced $5 million financing to support Unreasonable Capital Fund.
Elizabeth L. Littlefield, OPIC’s President and CEO 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.”
The venture capital firm invests in scalable and profitable companies addressing social and environmental issues that improve the lives of people in underserved communities in Latin America, India, Asia and Africa- providing operational support that has long-lasting impact in these regions.
It invests in early-stage companies that connect bottom-of-the-pyramid, underserved populations to products and services that improve their lives, providing low income communities with opportunities for economic growth and stability to which they would otherwise not have access.
Unreasonable Capital works with Unreasonable Group, a global network of business accelerator programs that provides mentorship to early-stage entrepreneurs solving society’s toughest social and environmental challenges.
Source: Footprint 2 Africa (link opens in a new window)
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