Dutch Good Growth Fund

What Dutch Good Growth Fund does

Dutch Good Growth Fund (DGGF) is a Dutch government development finance programme launched in 2014 and commissioned by the Ministry of Foreign Affairs to mobilize private investment, employment, and knowledge transfer in 70 developing countries and emerging markets. It operates through three administratively distinct tracks: Track 1 (Invest International) provides direct financing, loans, and guarantees to Dutch entrepreneurs investing in DGGF countries; Track 2 (a PwC and Triple Jump consortium) applies a fund-of-funds and ecosystem approach to reach local SMEs in frontier markets, including the "missing middle" and underserved entrepreneurs such as young, female, and fragile-state founders; and Track 3 (Atradius Dutch State Business) delivers export credit insurance and export financing up to €30 million for Dutch exporters of capital goods.

DGGF's underlying technology is purely financial rather than software-based: it deploys guarantees, direct financing with repayment obligation, loans, equity investments, and intermediary fund commitments. It has no public API, no mobile applications, and no disclosed proprietary technology platform. The programme's distribution operates via three dedicated contact channels (phone, email) routed through each track administrator, with marketing confined to its government website (dggf.nl / english.dggf.nl), RSS feeds, news publications, and video content.

The business model is that of a state-backed development finance instrument rather than a revenue-generating enterprise. DGGF does not publish pricing; each financing arrangement is customized per project. Its capital is supplied by the Dutch government and deployed in service of policy objectives (job creation, financial inclusion, climate impact), with cumulative reported outcomes of 11,300+ SMEs financed, 65,000 jobs supported, and impact across 53 countries since inception. Recent 2025-2026 commitments span Ukraine reconstruction (€27M Kovalska loan), Latin American financial inclusion ($55M ALIVE Ventures), African fintech ($30M First Circle Capital), African clean energy ($6.25M Charm Impact), and Philippine growth equity ($30M Foxmont, as anchor).

Name

Dutch Good Growth Fund

Legal name

Dutch Good Growth Fund

Website

https://dggf.nl

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

11–50 employees

Short description

The Dutch Good Growth Fund is a Dutch government development finance programme, launched in 2014, that provides loans, guarantees, and fund-of-funds investments to Dutch entrepreneurs and local SMEs across 70 emerging markets. It is administered by Invest International, PwC/Triple Jump, and Atradius on behalf of the Ministry of Foreign Affairs.

Ownership category

akta.pro rank

Product category

Development Finance

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259)

SIC

Foreign Governments (8888), International Affairs (9721)

akta.pro primary industry

National/Regional Development Finance Institutions (DFIs) (FSABAKAB)

akta.pro secondary industries

Bilateral Development Finance Institutions (DFIs) (BPADACAD), Development Finance & Blended Finance Facilities (BPADAOAD)

Keywords

• Development finance
• Emerging market financing
• SME loan funds
• Export credit insurance
• Impact investing

Headquarters

HQ city

The Hague

HQ country

Netherlands

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Others

Revenue model

1. Investment financing for Dutch entrepreneurs: DGGF supplements private investments through guarantees and direct financing with repayment obligation, including loans and equity investments for projects in DGGF countries.
2. Import financing: Supports importing Dutch entrepreneurs through guarantees and loans for importing from developing countries or upcoming markets.
3. Export credit insurance: DGGF Track 3 via Atradius provides export credit insurance and export financing for Dutch entrepreneurs exporting to DGGF countries. Coverage up to €30 million.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Dutch Good Growth Fund (DGGF) is a Dutch government development finance programme that provides customized financing solutions — guarantees, loans, equity investments, and export credit insurance — to Dutch entrepreneurs investing in, importing from, or exporting to 70 emerging markets and developing countries. It also channels capital to local SMEs in those markets through a fund-of-funds approach, combining financial support with capacity building and ecosystem development. The programme operates via three tracks administered by Invest International, the PwC/Triple Jump consortium, and Atradius Dutch State Business.

Product overview

The Dutch Good Growth Fund (DGGF) is a government development finance program commissioned by the Dutch Ministry of Foreign Affairs, not a unified software product but a portfolio of three distinct financing tracks. The three tracks are: Track 1 (Investing Dutch Entrepreneurs) - administered by Invest International, providing financing and guarantees for Dutch entrepreneurs investing in developing countries; Track 2 (Financing Local SMEs) - administered by a consortium of PwC and Triple Jump, applying a fund-of-funds approach to invest in intermediary funds that support local SMEs in frontier markets; and Track 3 (Exporting Dutch Entrepreneurs) - administered by Atradius Dutch State Business, providing export credit insurance and financing guarantees up to €30 million for Dutch exporters.

Differentiator

Problem solved

Functional benefit

Brands

• Track 1: Investing Dutch Entrepreneurs: DGGF Track 1 administered by Invest International, providing financing for Dutch entrepreneurs investing in DGGF countries.
• Track 2: Financing Local SMEs
• Track 3: Exporting Dutch Entrepreneurs

Products and services

• DGGF Track 1: Investing Dutch Entrepreneurs Provides direct financing, loans, and guarantees for Dutch entrepreneurs seeking to invest in emerging markets and developing countries where traditional bank financing is unavailable due to high risk. Administered by Invest International.
• DGGF Track 2: Financing Local SMEs Applies a unique ecosystem approach combining investments with capacity building and ecosystem support to help local entrepreneurs in frontier markets, targeting the 'missing middle' through intermediary investment funds and seed capital programs. Administered by the PwC and Triple Jump consortium.
• DGGF Track 3: Exporting Dutch Entrepreneurs Provides export credit insurance and export financing to cover payment risks up to €30 million for Dutch entrepreneurs exporting capital goods to developing countries. Administered by Atradius Dutch State Business.
• Intermediary Investment Funds (Track 2) DGGF invests in intermediary funds which in turn invest in local SMEs across 70 DGGF countries, applying a fund-of-funds model to reach underserved entrepreneurs.
• Seed Capital and Business Development (SCBD) Provides seed capital and business development support for early-stage entrepreneurs, particularly targeting young, female entrepreneurs and those in fragile states.

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• BriterminorStrategic or Co-development PartnerJoint research partnership with Briter to analyze angel investment networks across emerging markets. A joint report identified over 220 angel networks with 74% currently operational.

Scale indicators9 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• FMO (Dutch Entrepreneurial Development Bank): FMO is the Dutch national DFI focused on private-sector development in emerging markets, with a mandate and product set (loans, equity, fund-of-funds, guarantees) almost identical to DGGF's Tracks 1 and 2. Both are Netherlands-based, government-linked, and target the 'missing middle' in developing countries.
• DEG (Deutsche Investitions- und Entwicklungsgesellschaft): DEG is Germany's national bilateral DFI, providing long-term financing to private enterprises in developing and emerging markets via debt, equity, and fund investments. Highly comparable to DGGF in mandate, instruments, and target geographies.
• Proparco: Proparco is the French bilateral DFI subsidiary of AFD, financing private-sector projects in emerging economies through loans, equity, and guarantees. Directly comparable to DGGF in mandate, instrument mix, and development-impact orientation.
• British International Investment (BII, formerly CDC Group): BII is the UK's development finance institution, investing across Africa, South Asia, and Southeast Asia via direct deals and fund-of-funds. Closely comparable to DGGF's Track 2 model and emerging-markets SME focus.
• BIO (Belgian Investment Company for Developing Countries): BIO is the Belgian bilateral DFI providing direct financing and fund investments in developing-country SMEs. Smaller in scale than DGGF but offers the most direct product-line and mandate overlap in Europe.
• Swedfund: Swedfund is Sweden's national development finance institution, investing in businesses in developing countries with a focus on poverty reduction and climate. Highly comparable mandate and instrument set to DGGF.
• Norfund: Norfund is Norway's development finance institution, investing in profitable enterprises in developing countries with a focus on clean energy, financial inclusion, and agribusiness. Directly comparable mandate and African focus to DGGF.
• SIFEM (Swiss Investment Fund for Emerging Markets): SIFEM is Switzerland's development finance vehicle, investing in emerging-market private equity and debt funds. Closely comparable to DGGF's Track 2 fund-of-funds model and SME-intermediary approach.

Broad incumbents

• IFC (International Finance Corporation): IFC is the World Bank Group's private-sector development arm and the largest global DFI, operating across more than 100 countries. While broader in scope and scale, IFC competes directly with DGGF for fund and direct-investment opportunities in DGGF countries.
• Invest International: Invest International is the Dutch state-backed financing vehicle for international business, administering DGGF's Track 1 and providing broader Dutch trade-and-investment financing. Functions both as DGGF's administrator and a broader Dutch DFI peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/dutch-good-growth-fund

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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

M&A

Investments8 records

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

Frequently asked questions about Dutch Good Growth Fund