Finnfund's Digital Access Fund Raises 80 Million Euros for Emerging Market Connectivity

Finnish development financier Finnfund has announced the first closing of its Finnfund Digital Access Impact Fund I LP (DAIF), successfully raising 80 million euros. The fund aims to invest in digital infrastructure and solutions in underserved regions of Africa, Asia, and Latin America.

The capital raised will be used to bridge the digital divide and promote digital, financial, and gender inclusion. Investments will target telecommunication towers, digital infrastructure, and scalable, high-impact technology solutions, seeking to provide access to growth markets. The fund is designed to offer professional investors opportunities in these emerging markets alongside Finnfund.

The DAIF benefits from a risk-sharing facility and technical assistance under the European Commission's European Fund for Sustainable Development (EFSD). The investment process incorporates child-related considerations through the Child-Lens Investing approach, developed with UNICEF Innovative Finance Hub.

Initial investments are anticipated in 2025, with early considerations including bringing high-speed internet access to low-income households in Latin America. The Finnish Ministry for Foreign Affairs is also a new anchor investor in the fund.