In 2018, at least 56 new SGB-inclusive investment vehicles* launched, with a median target AUM of US $50 million.
- Number of Investment Vehicles Launched
- Median Target
US $ Millions
Source: ANDE Research
The information and communication technology (ICT) sector remains a major focus area among SGB investors; in 2018, 36 percent of newly launched vehicles focused on ICT or a tech vertical, reflecting a consistent trend over the past decade. This interest in ICT aligns both private investors and institutional donors for the sector, with the most popular technology-centric vertical among donors being FinTech.[1]
*See Methodology section for definition of SGB-inclusive investment vehicle
Emerging market fundraising and investments in SGBs significantly increased in 2018, reversing recent trends.
- Number of Investment Vehicles Launched
- Median Target
Source: EMPEA Research
In Latin America, the total number of deals US 1$ million and under grew considerably, the greatest proportion (41 percent) of these being deals less than US $250,000.
- US $501k- US $1M
- Deals US $250- US $500,000
- Deals < US $250,000
Source: LAVCA Research
Gender Focus
Supporting women as entrepreneurs is consistently listed as the highest priority gender gap ANDE members aim to address.
N=92
Source: 2018 ANDE Impact Survey
Gender Focus
How ANDE member organizations aim to promote gender inclusion
N=94
Source: 2018 ANDE Impact Survey
*Women-centric business models include SGBS that sell products or services designed to benefit women and girls.
**Promoting workplace equity within SGBs in the context that they create wealth through recruitment, retention, and promotion of women employees, and through value and supply chain equity.
Gender Focus

N=89
Source: 2018 ANDE Impact Survey