Incofin Investment Management, established in 2001, is a Belgium-based impact investment firm specializing in financial inclusion for rural and agricultural sectors in developing countries. It invests in microfinance institutions (MFIs) and small and medium enterprises (SMEs), providing debt, equity, and guarantee financing. Incofin typically invests in MFIs with a credit portfolio of at least €1 million and a portfolio quality of PAR30 below 10%. It seeks investments in the range of €100,000 to €1 million, with equity investments held for seven years and debt investments with maturities of one to five years. The firm operates globally, with a significant focus on Sub-Saharan Africa, and has offices in Belgium, Colombia, India, Kenya, Luxembourg, and Cambodia.
Partner and Regional Director of Private Equity Asia
Rahul Rai
Partner, Incofin India
Past deals in Fruits and Vegetables
Sahyadri Farms
Series B in 2024
Sahyadri Farms is an integrated value chain focused on fruits and vegetables, established on January 11, 2011, by Shitij Agrawaal in Nasik, Maharashtra. This initiative is entirely managed by farmers who understand the challenges faced by small-landholding farmers. Sahyadri Farms aims to transform traditional Indian farming by procuring, processing, and marketing a variety of products, including fresh fruits like grapes and vegetables, as well as processed foods such as aseptic and frozen fruit pulps. By leveraging a network of small and marginal farmers, the company enables these producers to export their products internationally, thereby enhancing their market reach and income potential.
Truk Rwanda
Debt Financing in 2024
Truk Rwanda provides cold storage and transportation solutions for fresh fruits and vegetables, allowing farmers in central Rwanda to extend the shelf life of their produce.
Fruitwall
Series A in 2024
Fruitwall specializes in orchard installation, development, and maintenance of controlled atmospheric storage facilities.
Sahyadri Farms
Venture Round in 2022
Sahyadri Farms is an integrated value chain focused on fruits and vegetables, established on January 11, 2011, by Shitij Agrawaal in Nasik, Maharashtra. This initiative is entirely managed by farmers who understand the challenges faced by small-landholding farmers. Sahyadri Farms aims to transform traditional Indian farming by procuring, processing, and marketing a variety of products, including fresh fruits like grapes and vegetables, as well as processed foods such as aseptic and frozen fruit pulps. By leveraging a network of small and marginal farmers, the company enables these producers to export their products internationally, thereby enhancing their market reach and income potential.
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