The first close of the $40 million Dolma Impact Fund II has been announced as a private equity fund investing primarily in renewable energy, healthcare and technology in Nepal. Investors are FMO, the Dutch entrepreneurial development bank, CDC Group, the UK’s development finance institution and impact investor, Swedfund, the Swedish development finance institution, and the International Finance Corporation (IFC). The final close is targeted at $75m.
The announcement coincides with the second wave of Covid-19 impacting Nepal. Dolma II’s target sectors will directly address capacity constraints in healthcare and enable digital solutions to scale rapidly that will be vital both during and following the pandemic.