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Incofin is proud to be selected as an Emeritus Manager in the ImpactAssets 50™ (IA 50) 2025. This recognition celebrates our long-standing commitment to delivering financial returns while driving meaningful social and environmental impact across emerging markets.

Today, ImpactAssets released the IA 50 2025, the definitive guide to impact investment fund managers globally. Now in its 14th year, the IA 50 is the industry’s most comprehensive resource for identifying best-in-class impact fund managers. This year’s edition includes a record 165 impact investment fund managers, reflecting the continued expansion of the impact investing sector.

The IA 50 2025 highlights key market trends, including a 35% year-on-year increase in total assets under management (AUM) among IA 50 firms, reaching $130.6 billion. The Emeritus Managers category, which includes Incofin, recognizes firms with a long-term track record of excellence in impact investing.

Market trends in the IA 50 2025

Growing institutional-scale managers – 24 IA 50 firms now manage over $1 billion in AUM, a 33% increase over previous years.
Financial returns and impact alignment – 46% of IA 50 managers target market-rate returns, while 28% pursue above-market returns.
Social and climate impact priorities – 50% of IA 50 managers focus on financial inclusion and community development, while 33% prioritize climate-related investments.
Increased impact verification – 28% of core IA 50 managers and 24% of Emeritus managers undergo third-party impact verification.

Leadership insights

“This year’s IA 50 showcases how impact investing is quickly coming of age – not only in scale and financial sophistication, but also in accountability and rigor. The increasing prevalence of third-party impact verification, larger institutional-scale fund sizes and record-breaking newer entrants signal a maturing market that remains deeply committed to driving positive change.”
– Jed Emerson, IA 50 Review Committee Chair, Chief Impact Officer at AlTi Global

“As impact investing continues its march into the financial mainstream, the IA 50 has become a powerful barometer of industry maturation and the most respected recognition in our sector. The scale, growth and credibility of this year’s IA 50 managers demonstrate that impact investing is not only thriving, it is becoming an undeniable force in the market.”
– Margret Trilli, CEO and Chief Investment Officer, ImpactAssets

“The IA 50 not only reflects where impact investing is today, but also provides a roadmap for its future. The rigorous selection process and expert review that define the IA 50 reinforce its position as the industry’s gold standard – giving investors confidence that the firms featured are at the forefront of driving meaningful impact.”
– Rehana Nathoo, IA 50 Review Committee Member, Founder and CEO, Spectrum Impact

A commitment to lasting impact

Incofin is honored to be recognized as an Emeritus Manager, a testament to our long track record in impact investing excellence. We remain committed to expanding access to finance, supporting sustainable businesses, and helping communities thrive.

With over $1.1 billion in assets under management, Incofin has invested $4.7 billion through equity and debt financing, supporting entrepreneurs, smallholder farmers, and inclusive businesses in 50+ countries. Our team of 90+ professionals, based in Belgium, Colombia, Kenya, and India, continues to drive impact through responsible investment.

As impact investing grows, Incofin remains committed to ensuring that capital is a force for good, creating economic opportunities while strengthening communities.

When Ngoc Anh Dao opened a café in Hanoi in 2012, she had no idea she would later reshape Vietnam’s coffee industry. All she wanted was to serve high-quality coffee. But back then, she knew that the best beans had to be imported from abroad. In 2017, she asked herself a bold question:

❝ What if we could create this quality right here in Vietnam? ❞

That question sparked the journey of Detech Coffee, a company that has since:

Built a sustainable, high-quality coffee supply chain in Vietnam

Focussed on women farmers by launching the Vietnam chapter of the International Women’s Coffee Alliance

Partnered with Incofin Investment Management to help farmers achieve certifications, access financial support, and build long-term resilience

A passion for quality becomes a mission for change

Vietnam is the world’s second-largest coffee exporter, but when Ngoc Anh first started sourcing beans, she found that most producers prioritized volume over quality. Large-scale producers focused on keeping costs low, while niche specialty markets were overlooked. If farmers had the right support, she knew that Vietnam could produce coffee beans worth celebrating.

Instead of settling for imported beans, she took a leap of faith.

She travelled to coffee farms for the first time and was struck by the fact that almost all of the labor in the fields was done by women. They were chatting, singing, and picking ripe cherries—but despite their significant role, they rarely held leadership positions.

She saw firsthand the environmental impact of coffee farming and knew that sustainability had to be part of the solution.

Sustainability at the core: From agroforestry to climate resilience

Ngoc Anh introduced agroforestry—a method of growing coffee alongside trees like macadamia and crops like mung beans. This not only diversifies farmers’ incomes but also:

Protects coffee crops from climate change (heat, frost, drought)

Improves soil health, encourages biodiversity, discourages monocultures

Produces better-tasting coffee (shade-grown beans take longer to mature, absorb more nutrients, leading to richer flavors)

She also works with research institutions to introduce climate-resilient coffee varieties, ensuring that farmers can continue their work despite shifting weather patterns.

The current coffee variety, a Catimor, was introduced more than 30 years ago to Sơn La, but Detech Coffee is now introducing climate-resilient coffees to this area.

For women: Creating opportunities beyond the fields

In the coffee industry, there’s gender equality in numbers but not in hierarchy.

When Ngoc Anh founded the Vietnam chapter of the International Women’s Coffee Alliance, she worked to create a platform women deserved—to create more opportunities, raise awareness about gender inequalities, and offer training on occupational health and safety, coffee quality, and leadership.

Thanks to funding from Incofin, Detech Coffee has:

Trained 1,100+ farmers in sustainable and high-quality coffee production.

Helped farmers secure certifications (Rainforest Alliance, 4C) for better market access, premiums, community networks and know-how.

Developed crop insurance solutions in collaboration with Rural Development Center (RUDEC program), aiming to cushion them from unpredictable seasons.

With these steps, Detech Coffee builds a network of committed growers. Normally, many farmers would chase the highest bid day by day, but these steps help to nurture loyalty and secure commitment, maintaining a reliable supply chain.

Looking ahead: A vision for Vietnamese coffee

Ngoc Anh is on a mission to make Sơn La, Vietnam’s coffee-growing region, as recognizable as Java or Mokka. Over the next 5-10 years, she plans to:

Compete in international coffee championships to showcase Vietnamese specialty coffee

Introduce digital traceability tools to directly connect specialty buyers with high-quality farmers.

Collaborate with Cup of Excellence to bring global recognition to Sơn La coffee

Make drinking coffee more popular locally. Consumption in Vietnam has risen from 0.5 cups per capita to one cup over the last decade—still well below Western averages of four cups per day. Detech Coffee remains focused on quality-driven consumers who seek something better than usual.

A coffee revolution, led by women

Ngoc Anh Dao’s story is proof that sustainability, quality, growth, and empowerment can go hand in hand. Through Detech Coffee, she’s not just producing coffee—she’s working to reshape the industry.

This International Women’s Day, we are honored to invest in leaders like Ngoc Anh who are paving the way for a more inclusive and sustainable future.

by Ben DeVries

This case study was first featured on Impact Europe’s website here.

Qul Fruit Wall empowers farmers at every link of Kashmir’s agricultural value chain – and keeps scaling up thanks to an investment from Incofin’s India Progress Fund.

An apple grows in Kashmir

It took sun, rain and good soil to grow this apple. Snowmelt from the Himalayas feeds the river Jhelum, so the mountains also had their role. The tree where the apple grew was one among many, planted densely in the orchard; it gathered nutrients and expressed them in what’s hanging at the end of the stem.

There is a way to pick this apple without bruising it, a way to pack it to save space but do no damage, a way to store it for crispness. There is a right time to bring the apple to the market. There is a way to get the right price, to ward away those who would interfere unnecessarily. These are ways that must be learned.

The apple is a Royal Gala – Shameema’s favourite. She grew this apple.

Shameema

“I have no father. I have no brother,” Shameema told me. We’d been speaking through an interpreter, but here Shameema switched to English to make sure she was understood. Her smile, ever-present during our call, had vanished.

No father, no brother: it’s just Shameema running the family farm. It is culturally uncommon for women to run farms in Kashmir. As the provider for her family, Shameema used to struggle to balance a second job with farm work. And in the past, the farm’s main aim was to grow enough for the family’s personal consumption.

But Shameema saw potential in her hectares. She’d heard about a new practice of high-density orchard planting. At the time, her mother was sceptical. “When the planters from Qul first came to set us up,” Shameema said, “she wouldn’t even serve them tea!”

To not serve tea, in the culture of Kashmir, meant serious distrust. And perhaps there was good reason to doubt a new horticultural practice that went against generations of how it’s been done in the region of Jammu and Kashmir (J&K). But there was also good reason to trust the people from Qul Fruit Wall (Qul), the enterprise promoting high-density orchards. Qul had strong roots in the region.

Khuram

“If you understand the culture, if you understand people, then you know you can create an impact.”

The person behind Qul – its founder and CEO – is Khuram Mir. On our call, he wore his long hair pulled back and spoke excitedly, peppering his stories with an equal measure of hard numbers and anecdotes from farmers he knows.

Born in the fruit-growing region of J&K to an orchardist father, Khuram left for Purdue University in the U.S. to study systems engineering and operations research; after that, he launched a career in tech. Apples weren’t front of mind. But systems always were.

While still in his twenties, Khuram knew he wanted to apply what he knew about systems to improving people’s lives. He thought of this when he started doing volunteer work for a food aid program in Africa; a more efficient way to deliver food means fewer people starve. A mentor steered him away from Africa. Why not go to a community you know?

Khuram quit his job in the U.S. and returned to Kashmir.

Kashmir

The region of Jammu and Kashmir sits at the foot of the Himalayas; the temperate climate is just right for growing apples. Apple farming, in fact, supports the livelihood of roughly half the population.

In 2014, however, the fruit-growing value chain in J&K was underdeveloped. Storage infrastructure was lacking. Metaphorically and literally, ‘low-hanging fruit’ was left to rot on the ground. Intermediaries in the market took a big bite out of farmers’ profits. For example, Khuram recalled a time when his father showed him the receipts from apple trading. He was shocked to find the number of commissions and middlemen involved – “they even tacked on phone charges” – and recognised quickly that this was not an efficient system, let alone one that empowered farmers.

“India is a trading country,” Khuram told the Harvard Business Review in a case study from 2014, covering the early progress of the company that would become Qul.[1] “Adding value does not come naturally to us. As an agri-entrepreneur, I want to transform the 50-year-old traditional agriculture supply chain into a farmer empowering value chain.”

This goal, while ten years old today, still holds as a mission for Qul. Since then, Qul has grown into an agtech enterprise that serves farmers from tree to market, including orchard installation, storage and digital supply chain integration with national markets. Today, five thousand farmers in the Kashmir valley have seen their livelihoods improve thanks to Qul’s services. To keep that number increasing, however, requires additional support.

Incofin’s support

In early 2024, Incofin, the Belgium-based impact investor, announced their equity investment in Qul: €5.6 million, alongside a €1.1 million investment from Fiedlin, an Indian growth capital platform for small to medium-sized enterprises (SMEs).

The investment represents a milestone not just for Qul but for the region. Back in 2014, Khuram pointed out that the political uncertainty in J&K was a top concern for outside investors, resulting in “very little development in the private sector.”[2] Incofin’s investment represents a shift in that paradigm. Qul is “the first private sector enterprise to receive global institutional capital in Kashmir,” according to Incofin stakeholders, who also commented:

“The transaction not only opens the door for more foreign institutional capital in an untapped region of Jammu and Kashmir but puts the spotlight on the tremendous potential of its horticulture industry which supports the livelihood of half of its population.”

Those livelihoods are still under pressure, said Rahul Rai, Partner at Incofin India. Rahul enumerated the main challenges for J&K’s agricultural sector:

Outdated farming practices, resulting in inefficient usage of land and water

Lack of processing, logistics, warehousing and cold storage infrastructure, resulting in wastages

Unorganised systems with multiple levels of intermediaries

Lack of access to finance and technology

Fixing each part of the system requires more than just capital. Fortunately, Rahul and the rest of the Incofin team bring a deep-seated knowledge of the impact investing landscape in India, necessary to empower Qul to do their work, and in turn empower more farmers. That know-how comes together in the India Progress Fund.

India Progress Fund

Incofin invested in Qul through their private equity investment vehicle, the India Progress Fund (IPF). The two pillars of IPF are financial inclusion and the agri-food value chain; investments support “promising entrepreneurs to increase their chances of success through patient capital, mentoring and access to a global network.”

At the launch of IPF in 2021, Incofin saw a large market- and impact potential in India. Incofin’s earlier funds had built a strong track record in India over fifteen years, including successful investments at an early stage in Fusion Microfinance and Annapurna Finance, which developed into leaders in the microfinance sector in India. At the time of writing, IPF has provided access to finance to 90,100 people, including 47,800 “new to credit” borrowers, and impacted 2.2 million farmers through its investments. This track record marks Incofin as a pioneering impact player in India.

Qul checked both boxes of the fund’s pillars: agricultural value chain and financial inclusion. Qul had already shown they were profitable and scaling. Rahul and other Incofin stakeholders were also impressed with Khuram’s strong leadership and experienced management team. But to dig further into the ‘why’ behind the investment, it’s first necessary to take a closer look at what Qul does and how they do it.

Why Qul

True to its name, which means the “universe of trees,” Qul aims to create value for farmers at every link of the chain: orchard installation and management; integrated cold chain; and marketing and distribution. The high-density orchards Qul installs, as Shameema described earlier, let farmers produce more with less work and less use of natural resources. Cold chain storage enables fruit that was wasted in the past to come to market at the right time and across the year. Qul’s technological innovation, overarching all links in the chain, includes everything from controlled atmospheric storage to misters.

According to Mursaleen Hyder, Qul’s Digital Transformation & Business Processes Lead, most of this innovation is farmer-driven: about 70% comes from farmer feedback, 30% from Qul’s internal research and development department. The overall effect is an integrated value chain for J&K’s fruit farmers that puts their livelihoods first while promoting sustainable practices, such as less wastage and less water use.

Farmers experience the tangible positive impact of Qul when they join this value chain. For example, without the high-density planting Qul pioneered in the region, Shameema’s farm would have struggled to achieve the scale necessary to bring apples to market; Shameema would have remained excluded from the market and would need to work second jobs to support her family. Throughout their journey, Qul has added many such farmer-centric services, with just as many stories like Shameema’s. The latest investment from Incofin promises yet more positive impact, with ambitious targets to match.

Potential & targets

Targeted impact, from Incofin’s perspective, connects to the U.N. Sustainable Development Goals (SDGs):

SDG 1 – No poverty: 4-6x increase in net income for farmers; increase in farmer internal rate of return (IRR) from 11% to 27%.

SDG 2 – No hunger: Increased yield per hectare from 15-20 metric tonnes per hectare to 60-80.

SDG 12 – Responsible production and consumption: 70% reduced water use; 80% reduced agri-chemical use.

SDG 15 – Life on land: 60% reduced land usage through high-density planting.

In addition, the investment in Qul has the potential to add 25,000 metric tons of controlled atmospheric storage, aiding post-harvest infrastructure; and reduce farmers’ barriers to entering the market, via Qul’s nurseries and high-density planting.

Regarding financial inclusion, Incofin stakeholders write that Qul “demonstrates a farmer-centric value system by collaborating with small and marginal farmers to strengthen their entrepreneurial capabilities.” According to Rahul, access to finance was a “key-bottleneck in the agri-food sector,” and so the investment puts a particular emphasis on bringing small and marginal farmers a proven and affordable way to join the value chain.

Market know-how informs support, as summed up by Aditya Bhandari, Regional Director and Partner at Incofin:

“Incofin has first-hand practical rural market experience. Success from microfinance shall be carried forward to the large unmet missing middle. IPF shall back entrepreneurs aiming to challenge the status quo, in the process to transform from informal to formal market setup.”

The ambitious targets of the investment reflect high hopes for empowering J&K’s farmers – hopes shared by Khuram:

“Our mission is to transform lives and improve livelihood by at least quadrupling in 5 years the apple yield from the current levels of 12 metric tonnes per hectare. Qul has plans to scale up its operations with this impact capital raised, which is socially aware and environmentally conscious, and intends to take this model to 30,000 farmers in the next few years.” Qul currently reaches 8,500 farmers.

“If Qul succeeds in achieving its goals,” according to Incofin stakeholders, “it will have enabled savings of 32 billion litres of water, direct employment of 3,500 youth in the Kashmir valley and sustainable farming in over 6,000 hectares of land.”

Judging from IPF’s previous investments, there is a sense that this investment could also have a catalytic effect. According to Rahul, “IPF has drawn the attention of private investors to underinvested sectors, like farmer-owned companies and geographies like the Kashmir valley, thereby crowding in capital and creating an impact far beyond the immediate impact delivered by its portfolio companies.”

Measuring dignity

For more than ten years, Qul has gone against the prevailing social norms of J&K by empowering women farmers like Shameema and striving for gender parity within their organisation. “Out of five major decision makers in my team,” said Khuram, “three are women. It has been a journey for me, because Kashmir is a very conservative society. They were not open for women to come to work. We changed that entirely.”

Khuram had to fight for this change. Facing vocal opposition from conservative members of the community, Khuram remained undiscouraged; he stood up for his hiring practices, convening a meeting between opposing community organisations, his team and other stakeholders. He ultimately won over the sceptics.

Gender remains a complex issue in the progressive culture of Qul, but the way Khuram has navigated these waters has inspired confidence from Incofin. After all, Incofin applies a gender lens throughout a great share of their portfolio and wants to see Qul achieve progress in this regard.

Dignity is hard to measure. But it’s also one of the most important metrics in this story. Shameema spoke about getting respect from the wider community – she still wants more. Javed, another farmer, said he no longer needs to compel others to work in the orchard – his barometer for whether the work is seen as dignified.

Shameema and Javed were very vocal in their support for Qul – and Khuram in particular. Farmers have his phone number, and there’s even a new program where he has open hours at engagement centres where farmers can visit and share whatever’s on their mind – from complaints to a cup of tea. The outpouring of support for Khuram and Qul among the farmers I spoke with was so strong, it made me feel a tinge of regret that Incofin’s team was much more unknown to them. Maybe that’s to be expected: Incofin drives change behind the scenes. And while maybe a farmer wouldn’t call them up, that doesn’t diminish the impact they made in this community. They are helping to scale a way of living that’s easier for farmers – and make Kashmir a place where dignity grows.

Footnotes:

[1] Alvarez, Jose B.; Raina, Anjali; Chawla, Rachna. “HN Agri Serve: Growing Prosperity” Harvard Business Review, 2014.

[2] Ibid

Owned by over 6,000 smallholders, Sahyadri Farms is the largest farmer-owned integrated value chain operator in the Fruits & Vegetables sector in India. This is no small feat considering India comes in only after China as the world´s greatest agricultural output producer.

Sahyadri Farms was founded by these smallholders to increase their profitability by centralizing access to domestic and export markets, improving yields and quality through access to planting material of the highest quality, and providing high-quality infrastructure for processing the supply chain. The company works with more than 26,000 farmers across 40,000 acres of land for crops such as grapes, tomatoes, mangoes, bananas, pomegranates, and sweetcorn, among others, handling over 245,000 MT of food produce in Financial Year 2022-23, and generating revenues in excess of EUR 100 million.

Incofin invested EUR 8M in equity in 2022 via the India Progress Fund, recognizing Sahyadri Farms’ strong innovation potential for driving positive change in the agricultural landscape across India together with its strong management and governance.

IPF´s investment was significant for the agri finance sector in India: it propelled Sahyadri as the first farmer-owned company in India to raise private equity capital. Incofin´s investment created a co-investment consortium of EUR ~40 million with participation by Korys, Proparco, and FMO. As the consortium leader, Incofin has played a strong role in corporate strategy, climate strategy, governance & risk frameworks, and facilitated technical assistance grants for its climate initiatives.

Incofin´s vision for Sahyadri is very much anchored in the company´s drive for technological leadership in agriculture, with tech integration encompassing cutting-edge technologies like biotech and digital tech. To do so, the company tackles tech innovation starting with inputs, using scientifically produced planting material, including patented varieties, an in-house tissue culture lab, farm mechanization, and the implementation of Internet of Things (IoT) tools such as weather stations and soil sensors. On the processing side, Sahyadri has seamlessly integrated digitalized supply chain systems, incorporating lean and efficient waste reduction practices to leverage biogas and other waste byproducts.

“I am immensely proud of the strides we have made in empowering smallholder farmers and revolutionizing sustainable agriculture in India. Our collaboration with Incofin and other co-investors underscores our commitment to innovation and addressing environmental challenges. Through this partnership, we are not only enhancing our technological leadership but also charting a course towards a greener, more resilient future for our farmers and communities.” – Vilas Shinde Chairman and MD at Sahyadri Farms.

Intending to continue its innovation leadership, Sahyadri has partnered with Incofin for a technical assistance project to mobilize the best international methodologies for assessing their climate impact, developing a carbon emissions mitigation strategy, and creating a pathway for climate change adaptation for its 26,000 smallholder farmers.

Learn more about the Incofin India Progress Fund (IPF), investor in Sahyadri Farms.

In Kazakhstan, women play a significant role in business, with nearly half of the country’s SMEs led by women. While women entrepreneurs are increasingly becoming a vital part of the business landscape, they still encounter certain challenges in accessing the financing necessary for growth.

To address this, Incofin Investment Management, through the Global Gender Smart Fund (GGSF), has partnered with Solva, a Kazakhstani microfinance institution, to implement a gender action plan with a focus on developing tailored financial products specifically designed for women-led businesses. With an initial investment of USD 5 million, Incofin has invested in Solva’s accessible financial products, mentorship, and financial literacy resources for women-led micro and small businesses. Together, they aim to set a foundation for sustained economic growth led by resilient women entrepreneurs.

Solva’s inclusive approach

Founded in 2017, Solva combines fintech innovation with an extensive branch network to provide accessible financial solutions. Serving over 127,000 borrowers through 113 branches and a user-friendly digital platform, Solva has become a benchmark for inclusive finance in Kazakhstan. With nearly 70% of its MSME clientele being women-led businesses, Solva is committed to advancing gender equity. The “Women in Business” initiative has provided mentorship, networking, and financial literacy resources to over 14,000 women, helping them navigate business challenges and drive economic growth in their communities.

“This partnership with GGSF and Incofin strengthens our mission to provide women entrepreneurs with accessible, flexible financial solutions that have clear and measurable economic and social impact across Kazakhstan,” said Konstantin Barabanov, CEO of Solva Group.

Tailored loan solutions

With the support of GGSF and Incofin, Solva is committed to deliver on its gender action plan — with a focus on developing tailored financial products specifically designed for women-led businesses. This plan includes flexible loan structures and customized repayment options that address the unique financial needs of women entrepreneurs, helping them achieve greater financial stability and growth. By creating products that align with the operational realities of women in business, Solva aims to provide critical tools that enable women to expand their enterprises and contribute to Kazakhstan’s economy in meaningful ways.

Stories of women thriving with Solva’s support

Solva’s Women in Business initiative has supported numerous women. Here are just a few of them:

Gulzhan, founder of a chain of childcare centers, overcame the hurdle of lack of collateral with Solva’s loan and mentorship. Today, her centers are thriving, creating stable jobs in her community.

Nurzhamily, owner of multiple beauty salons, secured seasonal loans through Solva to match her salon’s revenue cycles, allowing her to expand her brand and employ more local women.

Raushan, owner of a branded merchandise business, needed funding to fulfill a large contract. Solva provided her a tailored loan with business advice, enabling her to expand production and become a leading supplier in her sector.

Nurgul, running a local shop in Almaty, used Solva’s financing to expand her inventory and serve her community better, keeping her business strong and relevant.

—

Looking ahead

Solva and Incofin Investment Management are building on their partnership through GGSF – to innovate Solva’s financial offerings further, reinforcing its standing as a leader in gender-focused finance. Its focus will enable more women entrepreneurs to turn their visions into reality.

Incofin Investment Management is proud to announce that the Incofin Climate-Smart Microfinance Fund has received the coveted LuxFLAG Microfinance Label for the period of 1 October 2024 to 30 September 2025. This prestigious certification comes from the Luxembourg Finance Labelling Agency (LuxFLAG), a non-profit organization based in Luxembourg that provides internationally recognized labels to funds adhering to rigorous sustainable investment strategies.

The LuxFLAG Microfinance Label is known globally for its rigorous standards in evaluating the social and financial impact of microfinance funds. This label signifies that Incofin’s fund is not only financially viable but also committed to advancing financial inclusion, climate-smart practices, and positive social outcomes for underserved populations.

As LuxFLAG states,

“The LuxFLAG Microfinance Label is known for its high standards and comprehensive evaluation of the microfinance investment fund’s approach. The Label was launched in 2006 with the creation of LuxFLAG and launched the world’s only Microfinance Label. It underscores the effective integration of social performance considerations and financial inclusion principles, reflecting key criteria essential to the LuxFLAG Microfinance Label’s eligibility criteria.”

Why the Incofin Climate-Smart Microfinance Fund?

The Incofin Climate-Smart Microfinance Fund is designed to promote financial inclusion while addressing the critical issue of adapting to climate change. By financing small and medium-sized enterprises (SMEs) and low-income households—particularly those involved in agriculture and climate-smart initiatives—the fund creates pathways for both economic and environmental sustainability.

This recognition from LuxFLAG comes at a critical time, when the fund is actively raising capital. The award of the LuxFLAG Microfinance Label demonstrates that Incofin’s Climate-Smart Microfinance Fund is not only delivering financial returns but also generating tangible social and environmental impact.

Category: News

Incofin recognized as an Emeritus Manager in the ImpactAssets 50 2025