Grassroots Business Fund

What Grassroots Business Fund does

Grassroots Business Fund (GBF) is a Washington DC-headquartered non-profit impact investment organization founded in 2004 as the International Finance Corporation's Grassroots Business Initiative and spun off as an independent entity in 2008. The firm operates an integrated three-window platform serving missing-middle SMEs across Africa, Asia, and Latin America — enterprises too large for microfinance and too early for commercial banks. GBF provides patient mezzanine capital ($100,000 to $3 million), concessional program financing through initiatives like the Jiinue Growth Program, and embedded technical assistance. The organization has deployed over $140 million across funds and programs, supported 600+ investments over 20 years, and claims 19 million livelihoods impacted with $396 million in economic value generated.

GBF's core technology is a proprietary Ability Score framework that tracks 13 core business capabilities at entry and annually across portfolio companies, augmented by bespoke solutions such as the Virtual Resource Planner built for portfolio company SOKO to digitize artisan supply chains. The firm manages a portfolio across multiple vehicles including Grassroots Business Investors Fund I L.P. ($41M invested in 33 companies), the Grassroots Business Partners Portfolio (pre-spin-off IFC legacy of $7.7M deployed with $5.8M in TA grants), and the Blooming Roots Fund for post-Hurricane Iota reconstruction in Colombia.

GBF's business model operates through three revenue streams: investment management fees, program management fees from development partners (including a $6M Mastercard Foundation COVID-19 program, $970K TDB facility, and AGF-AFAWA Women's SME Financing), and technical assistance services (800+ assignments delivered to 600+ companies since 2008). Pricing is not publicly disclosed but features tailored structures with grace periods, revenue-linked repayment, and local currency options. Distribution is partnership-driven, leveraging relationships with development finance institutions (IFC, FMO, KfW, DFC, TDB), foundations (Mastercard Foundation, Omidyar Network, Calvert, Osprey), and regional partners (African Guarantee Fund, AMPLO), with marketing concentrated in impact investing industry events, publications, and direct enterprise engagement rather than consumer-facing channels. The customer base spans missing-middle SMEs, growth-stage enterprises, youth and women-led MSMEs, and smallholder farmers connected to portfolio companies across horticulture, ethical fashion, agri-inputs, fairtrade crafts, artisanal rugs, and health sectors.

Name

Grassroots Business Fund

Legal name

Grassroots Business Fund

Website

https://gbfund.org

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

Grassroots Business Fund is a non-profit impact investor that provides patient mezzanine capital, concessional program financing, and embedded technical assistance to missing-middle SMEs across Africa, Asia, and Latin America, with an integrated platform graduating enterprises to commercial banking.

Ownership category

akta.pro rank

Product category

Impact Investment and SME Development Finance

NAICS

Other Investment Pools and Funds (5259), Other Financial Vehicles (525990)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

SDG / Thematic Sustainable Investment Funds (FSANAJAN)

akta.pro secondary industries

Impact Investment & Development Investment Funds (BPADACAO), Development Finance, Guarantees & Blended Finance Programs (BPADABAM), SME Term Loans & Growth Capital (FSAKAGAB)

Keywords

• Impact investing
• Mezzanine capital
• SME financing
• Technical assistance
• Emerging markets

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Investment Management Fees: Fees from managing investment funds including Grassroots Business Investors Fund I L.P. ($41M invested in 33 companies) and portfolio company investments. Provides patient mezzanine capital from $100,000 to $3 million with grace periods and repayment terms tied to revenue.
2. Program Management Fees: Fees from managing programs including Jiinue Growth Program ($6M+ financing provided to SMEs), AGF-AFAWA Women's SME Financing Program ($1M+ disbursed), and COVID-19 Recovery & Resilience Program ($6M loan capital). Programs combine concessional loans with technical assistance.
3. Technical Assistance Services: Embedded operational support across investment and program windows, strengthening financial systems, governance, and operational capabilities. Since 2008, delivered 800 technical assistance assignments to 600+ companies.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Grassroots Business Fund provides patient mezzanine capital, early-stage program financing, and embedded technical assistance to missing-middle SMEs across Africa, Asia, and Latin America. Its integrated platform combines three service windows: Investment Management ($100K-$3M mezzanine capital for growth-stage enterprises), Program Management (concessional loans and structured business support for early-stage enterprises), and Technical Assistance (operational support for financial systems, governance, and ESG compliance). Since 2008, GBF has deployed over USD 140 million across 600+ investments, aiming to graduate enterprises into commercial capital readiness.

Product overview

Grassroots Business Fund operates as an integrated investment platform with three connected service windows: Investment Management (patient mezzanine capital for growth-stage enterprises), Program Management (early-stage financing and structured business support), and Technical Assistance (embedded operational support strengthening financial systems, governance, and ESG compliance). The platform manages multiple funds including Grassroots Business Investors Fund I, Grassroots Business Partners Portfolio, and the Blooming Roots Fund. Key programs include the Jiinue Growth Program providing concessional loans to youth and women-led SMEs in Kenya, the AGF-AFAWA Women's SME Financing Program, and the Eastern and Southern African Trade & Development Bank SME Program. Enterprises enter through programs, receive technical assistance at every stage, and graduate to structured investment when ready for commercial capital.

Differentiator

Problem solved

Functional benefit

Brands

• Jiinue Growth Program: A nationwide initiative in Kenya empowering youth and women-led micro, small, and medium enterprises through grassroots mobilisation, digital-based concessional loans, and technical assistance across all 47 counties.
• Grassroots Business Investors Fund I
• Grassroots Business Partners
• Blooming Roots Fund

Products and services

• Investment Management Patient, structured mezzanine capital for growth-stage enterprises, paired with technical assistance to strengthen operations and governance. Investment sizes range from $100,000 to $3 million with grace periods and revenue-tied repayment terms.
• Program Management

Quantifiable outcome

• 19 million livelihoods impacted across Africa, Asia, and Latin America
• +8 more outcomes

Named customers7 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• AMPLO Inversión de ImpactocoreStrategic or Co-development PartnerCo-manager of Blooming Roots Fund for reconstruction of businesses in Colombia's Providencia and Santa Catalina Islands affected by Hurricane Iota. Fund sponsored by Bancoldex and UNDP with GBF managing alongside AMPLO.

Scale indicators18 records

Recent moves7 records

Expansion highlights6 records

Market position

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/g_b_fund
• Facebookfacebook.com/gbfund
• LinkedInlinkedin.com/company/grassroots-business-fund

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

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

M&A

Investments7 records

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

Frequently asked questions about Grassroots Business Fund