Creation Investments Capital Management, LLC (Creation Investments), a global impact investment manager in emerging markets, today announced the final close of Creation Investments Social Ventures Fund V (Creation V), the most recent portfolio in its flagship private equity fund family. Creation V is oversubscribed with more than $270 million in commitments from a diverse group of investors, including insurance companies, pensions, foundations, fund of funds managers, and family offices.
Through Creation V, Creation Investments is committed to increasing access to financial capital to the unbanked and underbanked populations in emerging markets, with a focus on India and Mexico. Creation V exceeded initial targets and had strong participation from existing and new investors.
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Investors in Creation V include managed funds by 57 Stars and strategies managed by Ascension Investment Management, which invested in earlier Creation Investments funds, and new investor Blue Earth Capital AG (BlueEarth), a global impact investment firm based in Baar-Zug, Switzerland.
“We are grateful to our diverse investor base, which for more than 15 years has enabled Creation to execute on our mission to improve the lives of those at the bottom of the economic pyramid in emerging markets,” said Patrick Fisher, founder and managing partner of Chicago-based Creation Investments. “Creation’s portfolio companies are providing financial access and helping raise the quality of life for millions of people and businesses in the developing world.”
“We are thrilled to partner with the team at Creation Investments as they look to build on their successful track record of improving the lives of the unbanked and underbanked across emerging markets through increased access to financial services,” said Rohan Ghose, principal, private equity funds and co-investments at BlueEarth.
Through its local presence in India and Mexico, Creation’s team focuses on financial inclusion and sources opportunities from basic banking and insurance to fintech-enabled affordable housing, motor-vehicle, micro, small and medium-enterprise lending, education finance as well as supply chain finance. To date, Creation V has deployed approximately 60% of capital in its target markets across several sub-sectors. Investments include Avla in Latin America, DD360 in Mexico, and Oxyzo, Progcap, ReshaMandi, and Vastu Housing in India.
“Our portfolio companies in India have contributed immensely to furthering our mission of financial inclusion for individuals and businesses. While demonstrating phenomenal growth, these firms have maintained strong unit economics and high corporate governance standards,” said Remika Agarwal, Creation’s vice president and India country head.
“We continue to have a strong and growing pipeline in Mexico and look forward to putting Creation V’s remaining capital to work across opportunities that align with our thesis of high growth and profitability, similar to our portfolio companies in region,” said Amadeo Ibarra, director and Mexico country head for Creation.
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