Canadian impact investment fund makes first investment in Brazil

WATERLOO, ON, Nov. 11 /CNW/ - Sarona Asset Management announced today that its Sarona Frontier Markets Fund 1 LP has made its first investment in Brazil in a receivables factoring fund called Brazil+, a joint venture between FondElec, a private investment group, and SIFRA, one of the largest and most successful receivable factoring companies in the country.   

"This receivable factoring fund provides the necessary working capital financing to micro, small and medium sized businesses that are the engine of growth and job creation in Brazil," said Serge LeVert-Chiasson, Chief Investment Officer of Sarona. "These companies often lack access to credit from the formal banking sector.  We not only believe strongly in the financial case of SMEs in frontier markets, but also in the ability to achieve positive community and environmental impact through such investments."

Sarona Asset Management is based in Waterloo, ON, and is a co-founder and or manager of a number of impact investment funds, including the Sarona and MicroVest groups of funds. Together, these funds have over $180 million in assets under management in developing and emerging countries around the world.

For further information:

Gerhard Pries
President
Sarona Asset Management
[email protected]
1.519.883.7557