About Investing for Development SICAV
IforD is dedicated to investing for impact, for development, for progress to occur. We believe that the mobilisation of for-profit and risk tolerant capital is one crucial piece of the puzzle to enable social and environmental progress. We have set ourselves – in the form of the Paris agreement on climate change and the 2030 Development Goals very ambitious targets.
What is less well understood is that reaching these targets will require investing in less and least developed countries at a scale much larger than what has occurred to date. This is what we are working for.
Where our journey began...
2009
The LMDF is launched
The Luxembourg Microfinance and Development Fund (LMDF) is launched by a coalition of public and private investors as an open-ended, self-managed Fund. LMDF is a spin-off of the investment activities of a microfinance NGO (ADA).
Staff: 1
AuM: EUR 5.4m
2013
Improving
Following a number of credit losses at the start, the Fund worked with its adviser to reform the risk appetite, the due diligence and monitoring processes.
Staff: 2
AuM: EUR 14.5m
2016
Expansion – EIB becomes investor
The European Investment Bank joins as an institutional shareholder in the LMDF Sub-Fund, crowding in other institutional shareholders.
2016
1st Impact Report
LMDF publishes first dedicated impact report, positioning itself among the pioneers in the impact sector.
Staff: 3
AuM: EUR 26.5m
2017
Innovation – Launch of FCCF
The year sees the launch of the Forestry and Climate Change Fund (FCCF), a second Sub-Fund dedicated to questions of tropical forests, climate change and biodiversity loss.
Staff: 3
AuM: EUR 32.7m
2019
Scaling
The Fund sees a period of fast AuM growth. The staffing expands to include a regional team based in San José, Costa Rica. The EIB decides to re-invest in the Fund.
Staff: 5
AuM: EUR 44.6m
2023
AIFM license threshold
The SICAV reaches the de-minimis threshold under Art. 3 (2) of AIFMD, counting its AuM and derivative portfolio and requires a full AIFM license. BIL Manage Invest is appointed as external AIFM.
Staff: 5
AuM: EUR 66.4m