Name

GAWA Capital

Legal name

GAWA CAPITAL PARTNERS SGEIC, S.A.

Website

https://gawacapital.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Impact Investment Management

NAICS

Portfolio Management and Investment Advice (52394), All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282)

akta.pro primary industry

Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

akta.pro secondary industry

Impact Investment & Development Investment Funds (BPADACAO)

Keywords

• Impact investment management
• Microfinance fund management
• Financial inclusion investing
• Blended finance vehicles
• Emerging market lending

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Fund Management Fees: GAWA Capital charges management fees on the assets under management across its four funds. These fees cover fund administration, investment management, reporting, and compliance. Management fees are typically charged as a percentage of committed or invested capital.
2. Performance Fees: The firm earns performance fees based on the financial returns and social impact outcomes generated by its investment portfolios. These fees align the firm's incentives with those of investors and are tied to meeting predefined return thresholds.
3. Technical Assistance Management: GAWA Capital manages Technical Assistance facilities (such as the EUR 8 million TA facility within the Huruma Fund), which provides additional revenue for supporting portfolio companies' capacity building and operational improvement.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

GAWA Capital is an impact investment management firm that raises and deploys institutional capital through specialized investment funds providing debt and equity financing to microfinance institutions, MSME lenders, and rural/agricultural enterprises serving low-income communities in Latin America, Asia, and Africa. The firm manages approximately EUR 220 million across four funds and combines commercial financial returns with measurable social and environmental impact through dedicated Technical Assistance facilities that support portfolio company capacity building.

Product overview

GAWA Capital is a European impact investment management firm offering a portfolio of four impact investment funds that provide debt and equity financing to social enterprises in developing countries. The funds span different strategies: the GAWA Microfinance Fund and Global Financial Inclusion Fund focus on financial inclusion through microfinance institutions and SME lenders; Magallanes Impacto FIL is an open-ended fund covering microfinance, SME finance, and education finance in Latin America and Asia; and the Huruma Fund targets rural and agricultural enterprises with a blended finance structure including first-loss protection and technical assistance. Each fund is designed to generate both social impact and market-rate financial returns for investors.

Differentiator

Problem solved

Functional benefit

Brands

• Huruma Fund: Impact investment fund with rural and agricultural focus on Latin America, Asia & Africa, with blended finance structure including EUR 10 million first-loss tranche and EUR 20 million in concessional debt.
• Kuali Fund
• GAWA Microfinance Fund (GMF)
• Global Financial Inclusion Fund (GFIF)

Products and services

• GAWA Microfinance Fund (GMF) GAWA's first impact investment fund focused on microfinance institutions and SME financing in developing countries worldwide; successfully liquidated in December 2018 after returning a 6.34% annual IRR to investors. For institutional investors seeking emerging market financial inclusion exposure.
• Global Financial Inclusion Fund (GFIF) GAWA's second impact investment fund focused on investments in microfinance institutions and micro & small enterprise lenders across Latin America and Asia, with 10 investments deployed across 8 countries. For institutional investors.
• Magallanes Impacto FIL The first open-ended impact investing fund in Spain, managed by Magallanes Value Investors SGIIC and supervised by CNMV, with GAWA Capital acting as investment advisor; focuses on financial inclusion in Latin America and Asia including microfinance, SME finance, and education finance. For institutional and professional investors.
• Huruma Fund GAWA's fourth impact investment fund with a rural and agricultural focus across Latin America, Asia, and Africa; features a blended finance structure with EUR 10 million first-loss tranche from EU funds managed by COFIDES, EUR 20 million in concessional debt from AECID, and an EUR 8 million Technical Assistance facility for investees. For institutional investors including development finance institutions.
• Kuali Fund Climate-focused impact investment fund with a EUR 250 million target size, supporting vulnerable communities in Latin America and India for climate change adaptation and mitigation. For institutional investors.
• Technical Assistance Facility (Huruma) An EUR 8 million Technical Assistance facility within the Huruma Fund that supports portfolio companies' capacity building and operational improvement across rural and agricultural investments in Latin America, Asia, and Africa. Provided to investees alongside investment capital.

Quantifiable outcome

• 750,000+ families have been impacted by GAWA Capital's portfolio companies
• +2 more outcomes

Named customers2 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and supporting.

• Magallanes Value Investors SGIICcoreStrategic or Co-development Partner · 1 September 2018GAWA Capital serves as the investment advisor to Magallanes Impacto FIL, an open-ended impact fund managed by Magallanes Value Investors SGIIC. This partnership leverages Magallanes' fund management infrastructure while GAWA provides impact investment expertise and deal sourcing capabilities.
• MFX Currency Risk SolutionssupportingTechnology or IntegrationMFX provides currency risk mitigation services to protect cross-border investments from foreign exchange volatility, an essential service for managing currency exposure across multi-country portfolios in Latin America, Asia, and Africa.
• GIIN (Global Impact Investing Network)supportingStrategic or Co-development PartnerGAWA Capital is a member of the GIIN, the leading global community for impact investing. This membership provides networking, research, and best practice sharing within the impact investing ecosystem.
• SpainNABsupportingStrategic or Co-development PartnerGAWA Capital participates in the Spanish Network of the UN Principles for Responsible Investment (NAB), supporting sustainable finance initiatives and reporting standards in Spain.
• Microfinance Portfolio CompaniescoreOthersGAWA Capital's core investment strategy involves partnering with microfinance institutions, MSME lenders, and financial inclusion enterprises across Latin America, Asia, and Africa. These portfolio companies receive investment capital and technical assistance to scale their operations serving underserved populations.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Incofin Investment Management: Belgian impact investment manager focused on financial inclusion and rural agriculture, managing multiple microfinance-focused funds in emerging markets. Highly comparable to GAWA in fund structure (multiple vintages), target geographies (Latin America, Africa, Asia), and financial inclusion strategy.
• BlueOrchard Finance: Switzerland-based global leader in microfinance and impact investment management with multiple funds. Directly comparable business model—managing pooled investment vehicles for institutional investors targeting microfinance institutions and financial inclusion—though at significantly larger scale.
• responsAbility Investments AG: Swiss impact asset manager operating multiple funds focused on financial inclusion, climate, and sustainable food across emerging markets. Closely comparable fund structure and emerging market financial inclusion thesis, with overlapping target geographies and similar LP base of European institutional investors.
• Finance in Motion: German impact investment fund manager with multiple thematic funds including eco.business Fund (biodiversity/sustainable agriculture) and other emerging market vehicles. Highly comparable to GAWA's Huruma and Kuali strategies, and source of GAWA's Head of Climate hire—reflecting direct strategic overlap.
• Symbiotics: Swiss impact investment platform offering microfinance investment vehicles, structured products, and advisory services to institutional investors. Comparable target market (microfinance institutions globally) and similar fund management business model targeting institutional impact investors.
• Oikocredit: Dutch cooperative impact investor providing debt and equity to microfinance institutions and cooperatives in emerging markets. Directly comparable in lending strategy to microfinance institutions (notably a co-investor with GAWA in Sindhuja Microcredit), though structured as a cooperative rather than fund manager.
• Magallanes Value Investors: Spanish asset manager managing Magallanes Impacto FIL—the open-ended impact fund for which GAWA serves as investment advisor. Comparable Spanish institutional base, complementary distribution (retail/intermediated channels), and demonstrates GAWA's distribution strategy.

Emerging players

• Triodos Investment Management: Dutch impact asset manager offering multiple sustainable investment funds across themes including financial inclusion, climate, and food & agriculture. Comparable European institutional LP base and impact focus, though Triodos has substantially broader retail/banking distribution and a stronger brand.
• LeapFrog Investments: Global impact-focused private equity firm targeting financial services and healthcare companies in emerging markets. Comparable emerging market financial inclusion thesis and institutional impact LP base, but uses PE/equity structures rather than GAWA's debt-focused approach.

Regional players

• EFSE (European Fund for Southeast Europe) Development Facility: Luxembourg-based impact investment fund supporting SMEs and microenterprises in Southeast Europe, Caucasus, and neighboring regions. Comparable blended finance structure, European institutional backing, and emerging market MSME lending focus—though geographically concentrated in a different region.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/c/Gawacapital
• Facebookfacebook.com/gawacapital
• LinkedInlinkedin.com/company/gawa-capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments24 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GAWA Capital