HIVOS

What they do

Hivos is a Netherlands-based international development organization that has pioneered the use of investment capital alongside traditional grant-making. Unlike many NGOs that only provide donations, Hivos established the Hivos-Triodos Fund (HTF) in 1994 as a joint initiative with Triodos Bank to provide debt and equity to scalable SMEs in emerging markets. This fund is one of the longest-running blended finance vehicles globally, managing over €65 million in assets. Additionally, Hivos established Hivos Impact Investments (HII) in 2015, a separate management company co-owned with South Africa’s LifeCo UnLtd, to manage specialized funds like the Hivos Food & Lifestyle Fund and Hivos Mideast Creatives Fund. They are positioned as a "risk-tolerant" early-stage investor that bridges the gap between grant funding and commercial capital, specifically targeting the "missing middle" in Africa, Latin America, and Asia.

What they look for

Hivos believes that aid alone cannot solve persistent global problems. Their thesis focuses on "innovating for social change" by investing in scalable enterprises that drive the transition to a green, inclusive, and fair society. Key focus areas include sustainable food systems, renewable energy, and gender & social inclusion. They look for scalable enterprises with proven business models, targeting the "missing middle" of SMEs too large for microfinance but too small for traditional commercial banks, and prefer locally-rooted entrepreneurs.

Stage

Seed, Series A, Series B+

Sectors

Climate, Food and agriculture, Fintech, Media

Based

The Hague, NL