FRAGG Investment Management Limited is an impact investment management and advisory company specializing in the management of funds targeting investments in the impact and climate domains. We work with financial institutions, impact projects, businesses and other actors in the impact and climate finance domains in the West African region to raise new capital and support business growth.
Companies and projects in the following impact sectors – Financial Institutions (MFIs, SME Banks, Finance Houses, OFIs, and Commercial Banks) Agriculture, Healthcare, Affordable Housing, Education, and Climate Finance – that are looking to expand and scale-up, are hereby invited to apply for a round of support and funding from a wide range of offshore investors (Development Finance Institutions, Specialised Investment Funds, Impact Funds, and other partner investors).
Using a triple-bottom-line approach, our main target is investing in and mobilising funds for high-growth companies in Nigeria and West Africa that promote social and environmental impact. Our goal is to make a strong financial return for investors while supporting companies that are contributing to a better world.
What to Expect
All shortlisted applicants can expect to receive:
- An accelerated proposal assessment program to help determine the suitability of your business for financing
- Support in preparing your business to be eligible for investment
- Direct investments as debt or equity in selected businesses within our core focal areas
- Access to a global range of funding agencies and investors
- The mobilisation of investment (debt, equity, or mixed instruments) into shortlisted companies/projects
- Support in governance and management structures
We are calling on companies practising responsible business by combining financial returns with discernable social and environmental impact. We bring in expertise and necessary tools to support your business in all the target sectors. General requirements include:
- Should have a minimum need of $0.5 million USD (N175 million) for expansion/scale-up
- High growth companies in the target impact sectors
- High social/environmental impact
- Innovative projects with growth potential, and a financially viable business model
- Projects making use of innovative technology in its outreach
- Must have a diverse management/staff with a reasonable number of women and youths
- A clear and transparent ownership structure with a strong management team
Target Impact Sectors
- Inclusive Finance & related FinTech Services: Including Microfinance/SMEs Banks, Finance Houses, OFIs, Commercial Banks, and Financial Technology Solutions.
- Agriculture: Agribusinesses covering the entire agriculture value chain, including but not limited to food production especially small-holder farming, food processing and storage, packaging, distribution (transportation and haulage), and wholesale/retail market (export or domestic).
- Healthcare & related services: From diagnosis to treatment and core areas of health management and prevention, including but not limited to general and specialised hospitals, primary health care centres, pharmaceuticals, HMOs, and health technology.
- Affordable Housing: Housing projects that increase access to practical and viable housing especially for earners on the lower end of the spectrum. Sustainable and energy efficiency housing projects are of particular interest.
- Education: Inclusive education models with projects covering low-fee private education in preparatory, primary, secondary, tertiary, and vocational institutions, education technology (EdTech), educational infrastructure and related services.
- Climate Finance: Projects covering climate Mitigation, Adaptation and REDD+ (reducing emissions from deforestation and forest degradation). Projects including but not limited to Renewable Energy, Lower Carbon & Efficient Energy Generation, Waste Management & Recycling, Non-Energy GHG Reductions, Sustainable Transportation, Water & Waste Water Systems, and Coastal & Riverine Infrastructure.
Phase 1: Expression of Interest (14th May – 22nd June 2018)
Interested participants should first go through the eligibility criteria and look through our website to fully understand what we do, then send an email formally introducing your company/project and expressing interest to email@example.com
Phase 2: Submit Proposal (4th June – 20th July 2018)
Upon receipt of your EOI, we will send you the application details and conditions along with an application form and guidelines for preparing your proposal and pitch deck. Completed application and proposal should be sent no later than 20th July 2018.
Phase 3: Selection (7th August 2018)
The selection process will be carried out in three distinct phases:
- Selection of long list – 20 ideas from all received proposals.
- Evaluation of the selected participants, and interviews with the project promoters. Upon completion of which, a shortlist of 10 projects will be announced.
- Final evaluation of shortlisted participants, and initial due diligence. Further documentation to support the project appraisal are required at this stage.
All selected participants will be contacted on the 7th of August 2018.
Phase 4: Agreements
Relevant agreements will be executed with the shortlisted companies. Selected participants will be included in our pipeline list eligible for direct investment from FRAGG, other investors within our network, and/or co-investment opportunities.