Ground Up Investing secures $6 million for agricultural impact fund

Ground Up Investing (GUI), the impact investing arm of Corus International, has achieved a $6 million first close for its $20 million Fund 2. The fund is designed to provide two-year working capital loans to agricultural small and medium-sized enterprises (SMEs) in Africa and Latin America.

Targeting businesses that require loans between $250,000 and $1 million, the fund addresses a financing gap for enterprises too large for microfinance but too small for traditional commercial investment. Specific target countries include Kenya, Uganda, Rwanda, Colombia, Peru, and Ecuador. The initiative aims to generate $200 million in new income for smallholder farmers, targeting a ratio of $10 in farmer income for every $1 invested, while improving land management across 20,000 acres.

Since 2017, GUI has deployed over $50 million in agricultural financing. Its inaugural $5 million fund supported 15 businesses, creating more than 800 local jobs and enhancing operations on 50,000 acres of farmland. One notable portfolio company, Mountain Harvest in Uganda, purchases from over 3,000 farming families and pays a 30% premium on yields.