Celebrating a Decade of Impact: DGGF Financing Local SMEs 10-year Video
Since its inception in 2014, the Dutch Good Growth Fund - Financing Local SMEs (DGGF) has been dedicated to supporting economic and social development in emerging markets. As DGGF marks its 10-year anniversary, we are pleased to share a special video that highlights DGGF's journey, and the contributions made.
The video showcases the partnerships and collaborations across various countries, including Kenya, India, and Peru, demonstrating DGGF's commitment to enhancing financial ecosystems and supporting local entrepreneurs.
Reflecting on a Decade of Contributions: Supporting Over 11,100 SMEs and Creating 50,000 Jobs
Over the past decade, DGGF has supported over 11,100 SMEs and helped create more than 50,000 jobs, showcasing our commitment to sustainable growth and economic resilience in underserved communities. As DGGF reflects on its journey and the stories shared in the anniversary video, DGGF is motivated to continue the efforts in making meaningful investments and strengthening financial ecosystems. We invite everyone to watch and share the video!
Voice over: Since its inception in 2014, the Dutch Good Growth Fund (DGGF) has been committed to support entrepreneurs in emerging markets by improving financial ecosystems and fostering economic and social development.
Over the years, DGGF has impacted frontier markets through investments in financial intermediaries, investment funds, and entrepreneurship support organizations like NaiBAN in Kenya, which in turn supported Zydii.
Interview:
Abigail Komu, network manager at NaiBAN: DGGF is one of our key partners in. And they've come in to support us in a number of ways. Bu what we were looking fo as a network is sustainability. And so DGGF has come in, to help us, with that angle of the business. So, it's through advisory services. They also help us look at how we can make investing in deals more sustainable. They also give us mentorship and coaching.
Rhoda Kingori, Co-founder and COO Zydii: Zydii has existed for a bit of time. But earliest, like talking about our recent pivot, which was about three years ago. This is where we started off thinking earlier on that we want to create accessibility of knowledge for every individual. And the big idea behind this is we have 12 million youth who are joining the workforce every single year, but 80% of these youth fail within their first year because of lack of soft skills. And that's where we come in.
Voice over: DGGF has facilitated sustainable growth from local businesses to large-scale initiatives, supporting over 11,100 SMEs and creating more than 50,000 jobs.
By merging investment with capacity building, DGGF has cultivated an entrepreneurial ecosystem, highlighted by investments in Omnivore Fund II and III in India.
Interview:
Subhadeep Sanyal, Partner at Omnivore: Omnivore is an impact venture capital fund, and we started in 2011 focused on India. Our thesis is largely to bring about change through technology in agrifood, climate and rural India. And we support entrepreneurs who are building businesses around this theme.
Mark Kahn, Managing Partner at Omnivore: So, Omnivore would not exist were it not for DGGF. In its independent form. They were the catalytic capital and they were a very hands-on investor. So as we were going from being a corporate VC to an independent impact VC, they were there teaching us and holding our hand and helping us as we transitioned. Learning, you know, about ESG, learning about impact, building our systems and processes. So, you know, a lot of people talk about catalytic limited partners (LPs). DGGF was the catalytic limited partner (LP).
Voice over: SMEs vary widely. From agricultural cooperatives to high tech startups and energy ventures. DGGF targets specific financing needs across these varied enterprises, to optimize, support, and promote inclusive economic growth.
The support of DGGF spans diverse sectors—from agriculture and clean energy to education and healthcare—impacting countless lives and fostering economic resilience in underserved communities. A prime example is the Peruvian fund Salkantay, which, over the past decade, has enabled companies like Manzana Verde to expand their operations across Latin America.
Interview:
Carlos Andrade, CEO and Co-Founder Manzana Verde: At Manzana Verde we deliver healthy and affordable food to the middle class of Latin America. To date, we have impacted almost 50.000 people and have delivered more than 4 million healthy and affordable food orders, focused on this large group.
Martín Aspillaga, Partner at Salkantay: DGGF has been essential for Salkantay and for us to be able to invest in companies like Manzana Verde. Not only because they have bet on managers like us, who operate in regions where capital is very scarce, but also because they have helped us establish better internal standards. And finally, they have also helped us with training of all kinds, from taxes to gender impact. So overall, it has been an extremely fruitful relationship.
Voice over: Celebrating ten years of impact, DGGF remains dedicated to stimulating entrepreneurship and job creation in frontier markets.
Outro: Dutch Good Growth Fund - Financing local SMEs.
Logos: Dutch Good Growth Fund, Ministry of Foreign Affairs, Triple Jump, PwC, english.dggf.nl.
Enhancing Sustainable Ecosystems in Kenya
Our collaboration with the Nairobi Business Angel Network (NaiBAN) in Kenya since 2023 is an important example of enhancing financial ecosystems. Launched in April 2021, NaiBAN is transitioning from a volunteer-driven grassroots network to a professionally managed organization aimed at long-term financial sustainability. Abigail Komu, the network manager at NaiBAN, stated, DGGF has been instrumental in our development, providing essential advisory services and enhancing the sustainability of our investments. This partnership marks a significant step in boosting efficiency and impact within the local entrepreneurial ecosystem.
Supporting Growth and Innovation in India
Omnivore's partnership with DGGF (Omnivore II since 2017 and Omnivore III since 2023) has significantly advanced agricultural innovation in India by focusing on early-stage, tech-enabled businesses that emphasize climate resilience and sustainable practices in agriculture and food sectors. The collaboration has enabled investments in technologies that facilitate climate-smart agriculture, enhance supply chain efficiency, and promote sustainable consumption, directly benefiting smallholder farmers and improving food security. This initiative not only supports job creation but also encourages knowledge sharing and creates indirect employment opportunities across related industries.
Partners at Omnivore, Subhadeep Sanyal and Mark Kahn, have expressed gratitude for DGGF's foundational support. Sanyal highlights the firm's commitment to driving technological advancements in agrifood, climate, and rural sectors, while Kahn acknowledges DGGF's crucial role in helping Omnivore transition to an independent impact venture capital firm, particularly in areas like ESG integration and impact measurement.
Facilitating Expansion in Peru
The Salkantay Exponential Fund (part of the DGGF portfolio since 2022) strategically invests in early-stage startups across Peru and Colombia, focusing on enhancing life through innovations in education and health. This fund aims to support around 20 startups, emphasizing women-led initiatives. With DGGF's backing, the fund has enabled companies like Manzana Verde to expand significantly in Latin America. DGGF's support has been crucial, not only in facilitating investments like in Manzana Verde but also in enhancing our operational standards in regions where capital is limited
says Martín Aspillaga, Partner at Salkantay.