Global Innovation Fund secures $50M to scale high impact investments across Africa and Asia

Two years after losing a $10 million commitment from the U.S. International Development Finance Corporation following the 2024 election, the Global Innovation Fund has announced investments of $50 million for its blended finance investment fund supporting growth-stage businesses in Africa and Asia. The support comes from the development agencies of the United Kingdom, Korea, Canada, and Sweden.The fund will provide $1 million to $10 million in impact debt financing to 90 enterprises, helping companies scale while attracting additional private capital. To date awards have been made to SwipeRx, a network of mostly women pharmacy professionals in Southeast Asia, and 4G Capital, a Kenyan microlender.