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EMIIF seeks to invest in:

  • Established or new SME funds who target SME financing in the range of USD 5,000 to USD 2 million as an initial commitment to the SME.
  • SME funds who operate in South Asia, Southeast Asia or the Pacific and will give priority to SME funds active in the following countries: Bangladesh, Cambodia, Fiji, Indonesia, Laos, Myanmar, Papua New Guinea, the Philippines, Sri Lanka, and Vietnam.
  • SME funds willing to adopt the IFC Exclusion List for their investment activities and are willing to comply with ESG performance standards and reporting post-investment.
  •  SME funds that demonstrate:
    • a clear path to financial sustainability;
    • commitment to positive development impact, with willingness and ability to adopt a Gender Lens Investing and an impact management approach;
    • relevant past experience in investment management in South Asia, Southeast Asia and the Pacific, impact investing and/or GLI. This experience can be either at a fund level or with the individuals running the fund – first time funds may apply;
    • processes demonstrating ability to execute investment transactions in South Asia, Southeast Asia or the Pacific;
    • interest to engage in EMIIF’s technical assistance program.

EMIIF as a partner:

  • Provides you flexible capital, including blended finance solutions
  • Supports your firm and the SMEs you invest in with business oriented technical assistance and capacity building solutions
  • Bolsters your capital raising capability
  • Helps you build your impact, track record and profile

How to apply:

EMIIF is an investment instrument of the Australian government and is open to receiving applications from the public. If you represent a financial intermediary interested in working with EMIIF or an investor exploring high impact opportunities in South Asia, South East Asia, or the Pacific, and believe your investment proposals fits the EMIIF investment criteria, please submit your proposal following the instructions on the right of this page. Your application should consist of a presentation of your investment proposal and identify a person or persons the EMIIF Consortium can be in contact with.

Application process:

The EMIIF Consortium is committed to transparent and timely communication with all applicants. We commit to sending you a confirmation email of receipt within 5 business days within submission of your application. The EMIIF Consortium reviews applications on a rolling basis each quarter. You will be notified within three months of the status of your application. If your application is rejected, you will be notified of the reasons. If your application proceeds further, several steps are required within the due diligence process and may take from four months up to a year to complete. Applicants seeking immediate financing should be aware of these timelines before applying.

EMIIF investment criteria:

Definitions:

Gender Lens Investing (GLI)

Gender lens investing involves consideration of gender biases, patterns, power dynamics, opportunities, and risks in investments. At its core, gender lens investment incorporates a gender analysis alongside impact and financial analysis to make better decisions that lead to better gender equality and economic outcomes. SME funds will need to have integrated or show an interest in integrating GLI principles into their operating processes to receive consideration from EMIIF.

Impact Management

Managing for intended positive gender equality, social, environmental and governance impact outcomes when selecting, making, managing, and exiting investments. Impact is not simply addressed as a goal to be achieved through EMIIF, but to drive better investment decision-making and monitoring of investments. SME funds will need to have integrated or show an interest in integrating impact management principles into their operating processes to receive consideration from EMIIF.

SME fund

An SME fund is a financial intermediary (including but not limited to fund structures) that is focused on providing capital to early stage or growth capital to SMEs.

SMEs

An SME is defined as a business that incorporates a for-profit motive and has 150 employees or fewer, or fewer than 250 employees in labour-intensive sectors at the time of the SME funds commitment to the SME.

Target Countries

Bangladesh, Cambodia, Fiji, Indonesia, Laos, Myanmar, Papua New Guinea, the Philippines, Sri Lanka, and Vietnam. SME funds targeting these countries and meeting other elements of the investment criteria are invited to invest. We recognize some SME funds are regional funds and will consider opportunities with a focus on target countries but with exposure to the Target Region which includes, in addition to the Target Countries, any country in South Asia, Southeast Asia and the Pacific which is eligible for Official Development Assistance (ODA).

Technical Assistance

Non-financial support including through training, mentoring and advice, to build the capacity of the recipient SME fund and/or SME to carry out its business activities and achieve positive Development Impact in EMIIF Target Countries. SME funds will need to demonstrate an interest in receiving TA at both the SME fund and/or SME level while adhering to impact reporting requirements.

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