Closing The Gap – Kenya
The Dutch Good Growth Fund (DGGF) is an initiative of the Dutch Ministry of Foreign Affairs.
Many small and medium-sized enterprises in developing countries have difficulty securing
the financial backing they need to grow. This group of businesses is often referred as ‘the
missing middle’, where they have outgrown micro financing but do not yet have access to
regular financial services. To increase local SMEs’ access to finance, the DGGF fund ‘Local
SMEs’ invests in investment funds that in turn invest in businesses in the DGGF countries.
The DGGF enlarges its impact by investing in intermediary funds that are better placed to
reach local SMEs. This part of the DGGF is a ‘fund of funds’: it is building up a portfolio of
intermediary funds that are catalysts for local economic growth. Greater access to finance
enables local SMEs to grow and strengthens the financial sector in low and middle-income
countries. The DGGF has set specific targets for intermediary funds that invest in young or
female entrepreneurs and entrepreneurs in fragile states.
The DGGF part Investment funds local SMEs is managed by a consortium of Triple Jump BV