Finnfund raises €80m for digital access fund
The fund targets investments in sectors such as telecom towers and digital infrastructure.
** For the best experience, download the free Africa Private Equity News app Android | iOS **
Finnish development financier Finnfund has reached the first close of its Digital Access Impact Fund I (DAIF), raising €80 million, with Finland’s Ministry for Foreign Affairs and Finnfund itself as anchor investors.
The fund is focused on digital infrastructure and solutions, aiming to bridge the digital divide and promote digital, financial and gender inclusion in underserved regions in Africa, Asia and Latin America. DAIF targets investments in sectors such as telecom towers, digital infrastructure, and scalable high-impact technology solutions.
“The first closing of Finnfund Digital Access Impact Fund I is a pivotal step in our mission to mobilise private capital for sustainable development. This fund not only addresses critical digital infrastructure needs but also empowers communities by enhancing access to essential services. We are excited to offer professional investors a chance to partner with us in driving meaningful change in these rapidly growing markets,” said Hanna Loikkanen, Finnfund´s chief investment officer.
Want to know who is raising, investing, and exiting in Africa? Get Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe now