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Dear all,
One of Finnfund´s key strategic areas is digital infrastructure and solutions, as shown in the above strategy visual. According to the World Bank, a ten per cent increase in digital connection leads to a 2.5 per cent increase in GDP. It may sound like an easy fix, but it is not: Up to 3 billion people do not take advantage of connections, even though it would already be possible for them in terms of infrastructure. The main reason for this is the price of devices and data, and that is why Finnfund is strengthening its efforts as a technology-driven impact investor.
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Although digitalisation is becoming almost synonymous with development in some places, it is still not a magic bullet. It requires ethical and equal implementation so that it does not increase but rather reduces inequality. Digitalisation is also a vital condition for effective global communication. It is almost impossible to imagine e.g. the work of our Communications team without digital connections.
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Connections to international media, our portfolio companies and partners are just clicks away. In all our investments, digitalisation can be part of the solution, enabling a more efficient, faster, and smarter way to address complex challenges such as climate change, poverty, and education.
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At the same time as digitalisation builds an increasingly connected world, the global outlook has changed drastically at short notice. Recent events remind us that no technology, be it digital solutions, artificial intelligence or quantum technology, is sufficient on its own to solve problems, but always requires human willpower, goodwill and effective communication as its driving force. An understanding that problems must be solved globally, not in a vacuum. This is precisely why, for us, people and the planet always come first in our every investment decision.
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Read more about our updated strategy for 2024-2027 here.
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Unna Lehtipuu
Communications and Public Affairs, Finnfund
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P.S. We wish you find this quarterly newsletter useful. Should you wish to receive this newsletter in the future but have not yet joined our subscribers, please click here. You can unsubscribe at any time.
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Finnfund announces successful completion of multi-tranche green and sustainable bond offering
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Finnfund issues nearly 200 million euros of green and sustainable bonds in four tranches. The bond represents Finnfund’s first multi-tranche issuance and includes longest ever maturity issued under its Sustainability Bond Framework established in September 2022. Read more
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Investment Manager Kuutti Kilpeläinen, Finnfund: “Digital gap is a significant opportunity to create impact”
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Finnfund has put digital infrastructure and solutions at the heart of its new strategy. According to the World Bank, a ten percent increase in digital connections leads to a 2.5 percent increase in GDP. divide. Read more
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Finnfund and IDB Invest partner with Netwey to expand internet access in Mexico
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Finnfund closed a 5 million US dollar equity investment with Netwey, a Mexican Internet Service Provider, to expand its fiber optic network and improve internet accessibility. This investment aims to bring unlimited high-speed internet to more low-income households, bridging the digital divide. Read more
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Mountain Hazelnuts secures landmark international investment, strengthening Bhutan’s sustainable agriculture sector
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Mountain Hazelnuts works with Bhutanese smallholder families and community groups to provide additional income-generating opportunities and help restore the nation’s fallow and degraded land. Read more
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Finnfund’s follow-on investment to Fibertime Group advances digital inclusion in South Africa with the help of Nokia technology
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In South Africa, approximately 80% of homes remain unserved by fast and affordable broadband internet, as fiber internet access is expensive and limited to affluent suburbs. Finnfund, Nokia and Fibertime Group are advancing digital inclusion in South African townships.. Read more
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Heikki Cantell appointed as the new chair of the Finnfund Board of Directors
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“Finnfund´s growth has been considerable, and its role has become even more significant and versatile, the most recent being investment operations in Ukraine. In this situation, it is both particularly interesting and a great responsibility and honour to serve as the chairman of the board," says Heikki Cantell. Read more
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Finnish investors support the electric vehicle business in India
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OP Finnfund Global Impact Fund I and Finnfund, invest in BII India EV LLP, British International Investment’s managed vehicle and existing shareholder of Mahindra Electric Automobile Limited. The investment will accelerate the availability and adoption of electric vehicles in India. Read more
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Finnfund boosts green and women-owned enterprises in Mongolia with an Investment in XacBank
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Finnfund invests in XacBank to boost green growth and lending to micro, small, and medium enterprises, especially those owned by women. Finnfund’s 10 million US dollar senior loan facility is part of an IFC-led syndicated loan package and eligible for the 2X Challenge gender investing initiative. Read more
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Finnfund participates in a syndicated facility for Khan Bank to support green financing and MSME financial inclusion
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“This long-term financing will further support the Bank’s commitment towards green financing and inclusive economy for customers, businesses and communities across Mongolia as well as addressing climate change challenges faced in the country", said Kyaw Latt, Finnfund’s Investment Manager”. Read more
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BLOG – Nature and biodiversity have gained increased attention across different sectors in recent years, as they rightfully deserve. Investing in clean transition and nature is one of Finnfund’s strategic focus areas regarding which we continue to strengthen our efforts to protect biodiversity and seek nature-positive investments. In 2024, Finnfund adopted a Nature and biodiversity statement that brings together the guiding principles and goals based on which Finnfund strives to strengthen the well-being and diversity of nature and mitigate possible nature and biodiversity risks and impacts in its investment activities.
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"In our work, biodiversity comes up regardless of the sector we are looking at ranging from forestry to digital infrastructure, agriculture, renewable energy – the list goes on. Looking back at my six years at Finnfund so far, I took some time to reflect on some key learnings and how our investments both protect and enhance biodiversity and ecosystem services through several direct and indirect measures", says Finnfund's Harold Gordillo, Environmental and Social Adviser.
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Advancing gender equality is a cross-cutting strategic priority at Finnfund. Our aim is to increase women’s employment, entrepreneurship, and leadership as well as to reinforce women’s financial agency and influence. The topic of women and digitalisation is a key focus area, as the digital inclusion of women is vital to driving gender equality.
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“Gender equality is and has been a significant cross-cutting priority for Finnfund. We always assess the impact of our investments on gender equality when making investment decisions. Finnfund’s gender statement compiles the measures Finnfund takes to guide its investment decisions to better promote gender equality. Moreover, our aim is that half of our investments are gender investments. There’s ample evidence that gender equality is good for both business and society,” says Juho Uusihakala, Senior Development Impact Adviser.
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Would you like to know more?
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Finnfund is a Finnish development financier and impact investor. We build a sustainable future and generate lasting impact by investing in businesses that solve global development challenges. We invest 200–250 million euros in 20–30 companies in developing countries each year. Our focus sectors include renewable energy, sustainable forestry, sustainable agriculture, financial institutions, and digital infrastructure and solutions. Today Finnfund’s investments, commitments, and investment decisions total about 1.23 billion euros, half of them in Africa. The company has 97 employees based in Helsinki and Nairobi. For more information, please visit www.finnfund.fi
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