18.2Mborrowers reached by the financial institutions in our portfolio

We finance values-based organisations across the globe that use financial services to deliver sustainable economic, social and environmental development. By doing so, they serve the real economy and meet the needs of underserved populations.

Why invest in financial inclusion

Globally, 1.4 billion people are excluded from financial services, which severly limits their ability to manage daily lives, cope with unexpected difficulties and develop entrepreneurial skills. Additionally, between 14 and 20 million small businesses in emerging economies lack access to the finance necessary to start and grow.

These challenges make the need for financial inclusion evident, which is also reflected in the UN Sustainable Development Goals (SDGs). Not as a goal in itself but as a powerful tool to chieve many of the SDGs, such as affordable and clean energy, gender equality and quality education. Financial inclusion is a vital, cross-cutting theme that enable the achievement of these important goals.

Longstanding track record

Since 1994, we have established ourselves as pioneering investors in financial inclusion, providing debt, mezzanine finance and equity to local microfinance institutions and banks worldwide. Our financial inclusion strategies are actively managed with a long-term vision, aimed at generating positive impact and risk-adjusted returns for retail, professional and institutional investors.

We invest in organisations that aim for a well-balanced mix between people, planet and profit. This basis for our investment policy is anchored in the overall investment process and translated into practices, tools, and indicators which together form the Triodos Sustainability Management System.

Initial screening

The portfolio company's mission and strategy are screened to ensure the alignment with investment strategy.

Due diligence

Investment officers visit the portfolio company to conduct on-site due diligence. In addition to a financial and risk analysis, they use the tools of the Triodos Sustainability Banking Assessment Scorecard, adapted from the Global Alliance on Banking on Values scorecard.

Investment decision

The Investment Committee’s decision is based on a thorough assessment of the investment officer’s findings and analyses of the portfolio company's performance in financial, risk and sustainability aspects.

Monitoring

Portfolio companies are obliged to submit social indicator reports on a quarterly basis to track progress in sustainability and identify areas for improvement. All portfolio companies are reviewed and visited annually by our investment officers.

Reporting

We regularly publish information on our investment activities in monthly, quarterly and annual reports.

Hivos-Triodos Fonds

Established in 1994, Hivos-Triodos Fonds is a joint initiative of Triodos Bank and Hivos and is one of the first global movers in financial inclusion investments. The combination of public and private funding from Hivos and Triodos Bank respectively remains a great example of an effective and successful blended finance initiative. Today, Hivos-Triodos Fonds also invests in scalable enterprises in emerging markets to catalyse a sustainable, inclusive and green economy.

Women’s World Banking Capital Partners

Women’s World Banking Capital Partners is a closed-ended USD 50 million equity fund launched by Women’s World Banking in 2012 with the aim to increase access to finance for women around the world. The fund takes minority equity positions in microfinance institutions, mostly Women’s World Banking affiliates across the globe that have a significant focus on women. Investment management is done by WWB Asset Management in cooperation with Triodos Investment Management.

Triodos Sustainable Finance Foundation

Triodos Sustainable Finance Foundation aims to accelerate sustainable development worldwide and can also assume more risk and act as an incubator for innovation in line with our strategy. A part of the portfolio is dedicated to inclusive finance; it finances new and relatively higher risk financial institutions that target difficult-to-reach client groups and under-served geographical areas.

The team in charge of the Financial Inclusion strategy at Triodos Investment Management consists of more than 40 dedicated investment professionals across 17 nationalities.

Frank Streppel

Head of Credit Management

Frank Streppel is Head of Credit Management of the Impact Private Debt and Equity team. He serves on the Board of Directors of several banks in Africa and Asia. Frank Streppel started working for Triodos IM in 2000, first as a Senior Investment Officer for East and Southern Africa and later as Fund Manager, Head of Investments and Investment Committee Chair. Prior to joining Triodos IM, he worked for ABN AMRO Bank in the Netherlands and for Médecins Sans Frontières in Sri Lanka.

Caspar Sprokel

Head of Private Equity

Caspar Sprokel is Head of Private Equity of the Impact Private Debt and Equity team at Triodos Investment Management. He joined Triodos IM in July 2012. He is a member of the management team and Investment Committee and has served on Boards of SME and microfinance banks in Africa and Asia. Caspar Sprokel has over 20 years of banking and financial sector experience in Europe, Africa and Asia. He was Investment Director at SDG, a Botswana-based private equity fund that focuses on the African financial sector and Missing Middle Markets (2008-2011). He has an MBA from the University of Groningen and holds certificates in Banking & Finance, French and Corporate Law from various universities.

Tim Crijns

Fund Manager

Tim Crijns is Lead Fund Manager of Triodos Microfinance Fund since 2019 and of Triodos Emerging Markets Renewable Energy Fund since March 2024. He joined Triodos Investment Management in 2016 as investment officer Africa. Tim started his career at Triodos in 2014 as corporate secretary to the Board of Directors of Triodos Bank, Supervisory Board and the Foundation for the Administration of Triodos Bank Shares (SAAT). Prior to Triodos he spent two years in Tanzania, setting up a vocational training project, and worked as lawyer at Clifford Chance and ING Bank. Tim holds a Master degree in law from the Radboud University of Nijmegen and a Master in business administration (Strategic Management) from the Erasmus University of Rotterdam. Tim is a member of the Board of Directors of 3Bank Serbia.

Florian Bankeman

Fund Manager

Florian Bankeman is Lead Fund Manager of Triodos Fair Share Fund. He joined Triodos Investment Management in January 2020 as a Fund Manager. Prior to that Florian worked in several financial institutions including ING Investment Management/NN Investment Partners and Candoris. Florian holds a Bachelor's degree in Commercial Economics, is a Chartered Financial Analyst® charterholder and an active member of the CFA VBA Society of the Netherlands/CFA Institute.

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