Deals

TriLinc impact fund continues agribusiness focus

The fund has made over half of its investments this year in agriculture-related businesses, targeting developing economies in Asia, Africa and Latin America.

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TriLinc Global Impact Fund, a global impact investment vehicle, made at least $14 million in loans to the agri sector in emerging markets in July.

The fund, which focuses on growth-stage loans and trade finance for small and medium enterprises, committed $4 million to an Argentine meat production and processing company and $10 million to Export Trading Group, a Singaporean agricultural exports business operating in sub-Saharan Africa.

It also made a $2.25 million investment in a $7.5 million smallholder farmer financing facility whose geographical focus has not been disclosed.

Launched in 2013, the fund aims to raise up to $1.5 billion, according to SEC filings, and has made $300 million in investments since inception.

The fund works with Asian alternative asset manager EFA Group, Barak Fund Management in Africa, UK-based GMG Asset Mangement, trade-finance specialist International Investment Group, the Association of Investment Companies and investment manager Alsis Funds to deploy capital through credit facilities in different regions.

Of 28 loan facilities listed on their fund website, 16 are agriculture, food or timber-related.

Increasingly, development and impact investment funds are being directed into agriculture, with the FMO and IFC recently telling Agri Investor they are committed to growing their agribusiness investment portfolio and the African Development Bank aiming to attract $400 billion of funds into African agribusiness over the next ten years.

TriLinc is one of the few private, closed-ended investment vehicles open to non-specialised investment professionals, with minimum investments starting from $2,000.