South Asia Growth Fund III (GEF III)
Introduction
SAGF III targets investments in mobile and digital solutions, recycling, water and sanitation. The fund’s geographical focus is primarily India.
Swedfund's investment increases access to capital for companies that want to develop and scale green solutions. The investment also leads to reduced carbon emissions and the implementation of international sustainability standards in the sector.
Swedfund qualified the investment in SAGF III for the 2X Challenge in 2023.
Read more in our press release: Swedfund invests USD 25 million in Indian growth fund for climate investments
Facts
SDG in Focus
No Poverty
End poverty in all its forms everywhere.
Gender Equality
Achieve gender equality and empower all women and girls.
Decent Work and Economic Growth
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.
Climate Action
Take urgent action to combat climate change and its impacts.
Sector
Energy & Climate
Access to renewable energy is a crucial factor for economic growth and poverty reduction. Today, around 750 million people lack access to electricity, three quarters of whom live in sub-Saharan Africa and the least developed regions of Asia.
Value creation
Our Impact
The investment contributes to increased production and access to electricity, reduced carbon emissions and the implementation of international sustainability standards in the sector. The investment is also expected to contribute to jobs and other income-generating opportunities locally. The investment will lead to increased access to innovative and climate-smart solutions in areas related to climate adaptation.
ESG
We are working closely with the fund manager to, among other things, develop and implement an environmental and social management system that has the capacity to manage and mitigate environmental and social risks associated with the sector.
Additionality
Our investment is financially additional as it is made in a challenging context where access to capital is limited, poverty rates are high and the business climate is challenging, and in that it is expected to help mobilise capital. The investment is value additional through a strong focus on active value creation during the investment phase, where environmental, sustainability and corporate governance issues are prioritised.