GuarantCo guarantee unlocks $100M for ALMA's gender-lens debt fund
What's the deal? GuarantCoDealroom has a profile for this one. Try Dealroom →, part of the Private Infrastructure Development Group (PIDG)Dealroom has a profile for this one. Try Dealroom →, has provided a $75 million partial credit guarantee to secure a $100 million private capital raise for a gender-lens debt fund managed by US-based impact investor ALMADealroom has a profile for this one. Try Dealroom →. The capital, from anchor investor Aegon Asset ManagementDealroom has a profile for this one. Try Dealroom → and other institutional investors, flows into Nava Capital 1, a special purpose vehicle. It is the third fund financing to reach close across GuarantCo's broader portfolio.
What's the endgame? ALMA will lend to financial institutions, fintechs, and small and medium-sized enterprises in emerging markets, particularly Asia and sub-Saharan Africa. Targets include women-owned businesses and lenders financing female borrowers, aligned with the 2X Challenge. The fund will also back climate-positive firms, including electric vehicle leasing and small-scale renewable energy.
How is it structured? GuarantCo's $75 million guarantee covers senior investors, while ALMA added a $10 million subordinated tranche to absorb first losses. The investments were arranged through a platform run by SymbioticsDealroom has a profile for this one. Try Dealroom →, a repeat GuarantCo partner. Through capital recycling, the fund expects to deploy up to $240 million.
Why it matters? The layered structure — institutional money, credit enhancement, and subordinated capital — is designed to pull private investors into emerging market private debt. "The guarantee provided solves a critical part of the puzzle as our clients benefit from capital protection, stable returns and a capital efficient solution," said George Nijborg of Aegon Asset Management.
What they said? "This is an important transaction for us, as ALMA's emerging markets-focused climate finance vehicle is innovative for having gender-lens investing as its primary objective," said Dave Chalila, head of Africa investments at GuarantCo.
The signal: The deal reflects a wider push to use blended finance to channel institutional capital toward gender-lens investing. GuarantCo and ALMA expect the structure to serve as a model for future emerging market debt vehicles, potentially reducing the need for guarantee support over time. Still, the approach eases investors' perceived risk rather than proving the funding gap is closing.
Read more: africaglobalfunds.com
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