IFU

IFU is a venture capital and private equity firm based in Copenhagen, Denmark, that specializes in providing equity, mezzanine financing, loans, and guarantees to projects in developing countries. Established in 1967, IFU focuses on creating and financing new businesses, joint ventures between Danish companies and local partners, and acquiring existing ventures. The firm primarily invests in sectors such as commercial services, biofuels, renewable energy, and irrigation systems, with a particular emphasis on climate and agribusiness. Investments are targeted at countries with a low gross national income per capita, as defined by specific criteria, and include regions across Africa, Asia, Europe, and Latin America. IFU typically invests between DKK 0.5 million and DKK 100 million and often seeks co-investment opportunities with Danish firms. The firm also supports small and medium-sized enterprises and provides advisory services for business investments in developing markets. With a preference for board membership, IFU aims to exit investments within five to seven years, ensuring a positive return for its stakeholders.

Ib Albertsen

Investment Director, SME

Le An

Investment Manager

Brian Muggeridge Andersen

Regional Director of West Africa

Helle Bjerre

VP of Latin America

Mathias Boyer

Senior Investment Manager

Catherine Isabelle Cax

VP of Sub-Saharan Africa

Morten Christiansen

SVP of Investment Management

Morten Elkjær

VP of Finance Sector

Lisbeth Erlands

VP, Europe and MENA

Henrik Frøsig

Regional Director, East Africa

Johnny Ohgrøn Hansen

Regional Director of Southern Africa

Søren Hasholt

Senior Investment Manager

Deepa Hingorani

VP, North and South Asia

Nidhi Husain

Senior Investment Manager

Torben Huss

CEO

Anker Tvede Jakob

Investment Director

Henrik Jepsen

Investment Director

Hong Jiang

Regional Director, China

Søren Kirk Josefsen

Investment Director

Max Kruse

Investment Director

Knud Lundgaard-Karlshøj

Regional Director, Kenya

Mainga Mukando

Investment Manager, Special Operations and Investment Manager, Investment Management Department

Reik Haahr Müller

VP of Climate Investments

Birgitte Bang Nielsen

Corporate Social Responsibility Director

Susanne M. Nielsen

Human Resource Director

Hans-Jørgen Nyegaard

Investment Director

Rune Nørgaard

Communications Director and Member of Executive Board

Steffen Schiottz-Christensen

VP of North Asia

Peter Schwalbe

SVP of New Investments and Director of Project Development Department

Alex Unsgaard

VP of Sub-Saharan Africa

Frederik Zeuthen

Regional Director of Latin America

10 past transactions

U Gro Capital

Post in 2023
U Gro Capital Limited is a non-banking financial company based in Mumbai, India, that specializes in providing loans to small and medium enterprises (SMEs) across various sectors. Established in 1993 and rebranded in 2018, the company focuses on financing businesses in healthcare, education, chemicals, food processing, hospitality, electrical equipment, auto components, and light engineering. By offering customized loan solutions, U Gro Capital aims to meet the specific capital needs of small businesses, thereby supporting their growth and development in the Indian market.

Polygenta Technologies

Debt Financing in 2022
Polygenta Technologies Limited is a prominent manufacturer of Polyester Filament Yarn (PFY) based in Mumbai, India. The company utilizes recycled post-consumer PET bottles as its primary feedstock, converting approximately 1.5 million bottles daily at its plant in Nashik, resulting in an annual production of around 10,000 metric tons of sustainable premium yarn. Polygenta offers a range of products, including drawn texturized and partially oriented yarns, as well as polyester chips, which are used in various applications such as sports apparel, women's clothing, denim, casual wear, uniforms, furnishings, luggage, and automotive fabrics. Established in 1981 and originally known as Maskara Industries Ltd., the company rebranded to Polygenta Technologies Limited in June 2001. It operates as a subsidiary of PerPETual Global Technologies Ltd.

CleanMax

Venture Round in 2021
CleanMax is now the largest developer of onsite and off-site solar solutions for corporate customers in India, on a build-own-operate basis. We develop solar projects on a turnkey basis, covering includes construction, financing and O&M in our scope, and providing power on a per-kWh basis under long-term Power Purchase Agreements, at rates cheaper than grid tariffs.

Daystar Power

Series B in 2021
Daystar Power specialises in providing solar power and energy efficiency solutions for businesses in the commercial, industrial, and agricultural sectors that result in significant reduction of power costs, diesel consumption and pollution.

Saraf Foods

Venture Round in 2018
Established in 1991, Saraf Foods is an ISO 22000:2005 certified company manufacturing Freeze Dried Fruits, Vegetables and Herbs. It has made its mark not only in India but in global market by consistent and timely delivery of Quality Freeze Dried products. With its exclusive focus on Freeze Drying for last more than 20 years, Saraf Foods has acquired the skills to apply this technology to a number of food products say from fruits, vegetables and herbs to Nutraceuticals like Aloe Vera, Bitter Gourd, Neem, Amla, Tulsi, Turmeric and many more. No doubt Saraf Foods has successfully become a leader in Freeze Dried Market and known as a reliable supplier of these products.

Coexca

Venture Round in 2017
Coexca is a food processing startup that commercializes pork cuts in Asian markets, exporting to more than 20 countries. It has a modern processing plant located in the Maule district, an annual turnover of 90 million dollars and 500 employees. It also manages the brands Campo Noble, Mayoral and Coexca El Nuevo Cerdo, with commercial offices in Japan and Europe.

Roserve

Venture Round in 2016
Operator of wastewater treatment management organization intended to serve micro-macro scale industries and enterprises. The company specializes in offering reverse osmosis (RO) for recycling, waste heat evaporators, building own operate transfer and operating lease solutions, thereby enabling clients the smooth function of the wastewater treatment plant.

Baobab SAS

Private Equity Round in 2016
Baobab SAS is a digital finance group dedicated to promoting financial inclusion for individuals and small businesses across Africa and China. Founded in 2005 by Arnaud Ventura, the company operates over 1,000 points of presence in countries such as Madagascar, Senegal, Nigeria, and Tunisia. It offers a range of financial products, including loans, savings accounts, current accounts, and term deposits, as well as insurance, payment solutions, and access to essential services like energy and technology. Baobab SAS, formerly known as Microcred Microfinance Bank Nigeria, changed its name in December 2017 and is headquartered in Kaduna, Nigeria. With a workforce of more than 3,800 employees, the company has facilitated over EUR3 billion in loans, empowering hundreds of thousands of clients to achieve their financial goals.

Baobab SAS

Private Equity Round in 2015
Baobab SAS is a digital finance group dedicated to promoting financial inclusion for individuals and small businesses across Africa and China. Founded in 2005 by Arnaud Ventura, the company operates over 1,000 points of presence in countries such as Madagascar, Senegal, Nigeria, and Tunisia. It offers a range of financial products, including loans, savings accounts, current accounts, and term deposits, as well as insurance, payment solutions, and access to essential services like energy and technology. Baobab SAS, formerly known as Microcred Microfinance Bank Nigeria, changed its name in December 2017 and is headquartered in Kaduna, Nigeria. With a workforce of more than 3,800 employees, the company has facilitated over EUR3 billion in loans, empowering hundreds of thousands of clients to achieve their financial goals.