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Gender Lens Impact Fund

The Tshiamo team is currently fundraising for a Gender Lens Impact Fund that will close the SME funding & gender gap while empowering women on the continent, starting in South Africa. The Fund will include a Technical Assistance Grant program to support the investee companies in the portfolio.

Fund Target: R400m target AuM ($21.8 million)

Investing less than R40m ($2m) equity into predominately women-led and women-owned businesses. 

Investing in demographics overlooked by traditional finance:

  • Well-structured solution for the SA market
  • Investment experience, impact expertise and demonstratable track-record
  • Leveraging blended finance to ensure fund sustainability and success

Fund Terms - Direct


Investment Approach

To close the SME funding & gender gap while empowering women on the continent, starting in South Africa, through a Gender Lens Fund that aims to invest and transform


Geographical Focus

South Africa


Fund Size

R400 million ($21.8 million) – with R50million committed from a local Foundation endowment


Ticket Size

R10m – R40m ($546,000 – $2.2million) with ability to deploy additional capital through co-investment


Equity ownership

At least Significant influence


Primary Impact Outcome

Investing in innovative enterprises that:

  • Create jobs and reduce poverty
  • Address gender inequality and empower women
  • SME support to enable growth
  • Economic and rural empowerment

Return profile

Financial and Social Return



25 – 30% (Projected Gross IRR)


Alignment to the SDGs & National Priorities


Social and environmental metrics

Fund to use the revised and standardised Impact Reporting and Investment Standards (IRIS+) metric and sector customized metrics based on the focus area and investment


Investment Criteria

  1. Strong, experienced management team
  2. Clear business model and defensive product offering that demonstrates how it will generate revenue and remain profitable
  3. Scalable business with supportive market dynamics – competitive advantage, supply/inputs, off-take and sales growth potential
  4. 2X Challenge compliant (gender lens criteria)
  5. Opportunity to create substantial growth through value addition, governance, optimisation of capital structure, value chain linkages and transformative business development

Management Fee

Fee on committed capital and includes an impact incentive structure (2/20) structure at an 8% hurdle.

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