BlueOrchard, a global impact investment manager and member of the Schroders Group, has completed the second closing of its InsuResilience Investment Fund Private Equity (IIF PE II), raising over $50 million.
The fund aims to mobilise private sector capital to support climate change adaptation and build resilience in emerging markets.
In collaboration with the German development bank KfW, IIF PE II seeks to provide affordable climate risk insurance protection to vulnerable populations and small businesses.
BlueOrchard said that its predecessor had benefitted over 48 million beneficiaries in 45 countries through insurance coverage.
IIF PE II has made significant investments in two companies within the climate insurance sector. Igloo, a Singapore-based insurtech firm, has introduced a weather insurance product for farmers in Vietnam. Meanwhile, Newe, a firm in agricultural insurance in Brazil, aims to extend agricultural insurance to over four million smallholder farmers in the country.
MartÃn Diaz Plata, head of private equity investments at BlueOrchard, stated, “We see a strong pipeline of opportunities for our strategy as the climate insurance ecosystem in our target markets enters the growth phase.”
Felix Hermes, head of private equity & sustainable infrastructure at BlueOrchard, emphasised the commercial opportunity and importance of investing in climate adaptation.
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