Founded 1948 (rebranded 2022 from CDC Group). UK's development finance institution backed by FCDO. AUM £9.9bn (2024). Portfolio: 1,600+ companies across 70 countries. Notable: Wave Mobile (fintech, Africa), Babban Gona (agritech, Nigeria), Altum Credo (housing finance, India), ACWA Power, Safaricom. Team: 139 staff incl. 44 partners. Value-add: non-financial support, mobilization of co-investment.
Investment Focus
Investment Thesis
UK govt dev finance institution targeting growth-stage companies in Africa, Asia, Caribbean. Focus: emerging mkts infra, fintech, agritech, renewables. Patient/flexible capital c.£1-2bn/yr. Impact-driven: productivity, sustainability, gender equality. Avoids: high-profit extraction, private education/health (legacy issue), fossil fuels (6% exposure). Strengths: 70+ yrs exp, £7.3bn portfolio, unique additionality assessment, 139-person team.
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