US investment firm Capria Ventures announced the launch of a $100 million (€90 million) impact fund targeting investment funds engaged in Africa and other emerging regions.

A first tranche of five million dollars will be allocated to fifteen funds that provide impact investments to small and medium-sized enterprises (SMEs) in Asia, Latin America and Africa.

During the Global Entrepreneurship Summit held in California last week, the firm highlighted a study from JP Morgan study and the Global Impact Investing Network showing that only nine per cent of the 60 billion dollars of impact investments is allocated to SMEs in emerging countries.

Capria said it is looking to facilitate access to finance for medium investors to improve the living standards of the populations in targeted areas.