KATHMANDU, July 27: Dolma Impact Fund II (Dolma II) has qualified for 2X Challenge with its first close of US dollars 40 million on May 6 and Dolma Impact Fund I’s performance on gender equality.
The international private equity said, Dolma II invests in renewable energy, healthcare, and technology sectors driving developmental impact and environmental and social value creation. “The fund invests in growth companies with cumulative revenue above $500,000, and renewable energy projects approaching or with a PPA. They invest between $1 million and $6 million per transaction,” it said in a statement. “Along with companies meeting the fund’s investment mandate, Dolma II aims to add to its developmental impact by enabling the economic empowerment of Nepal’s women through gender-lens investing.”
The 2X Challenge (www.2xchallenge.org) is an initiative of 20 Development Finance Institutions and Multilateral Development Banks to collectively mobilize $15 billion in commitments that provide women in developing country markets with improved access to leadership opportunities, quality employment, finance, enterprise support and products and services that enhance economic participation and access.
According to the equity, Dolma’s gender lens investing approach aligns with the 2X framework, including supporting companies that meet either of these four criteria: 1) businesses with women founders or with 51% female shareholding; 2) 20-30% women in senior management or 30% on the board of directors; 3) 30-50% women in the workforce, or 4) products or services that specifically or disproportionately benefit women.