Ground Up Investing Reaches $6 Million First Close on Second Fund to Grow Farmer Income Across Africa and Latin America
The $20 million fund expects to generate $200 million in new income for smallholder farmers, $10 for every $1 invested
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Ground Up Investing (GUI), the impact investing arm of Corus International, today announced a $6 million first close for its second fund. With Corus as the anchor investor, the $20 million Fund 2 will lend to agricultural businesses across Africa and Latin America. The fund will improve land management on more than 20,000 acres of farmland and create $200 million in new farmer income.
Fund 2 provides two-year working capital loans to agricultural small and medium-sized enterprises (SMEs) in Kenya, Uganda, Rwanda, Colombia, Peru and Ecuador. These businesses buy crops directly from smallholder farmers, connect them to markets and create local jobs. But the loans they need, typically $250,000 to $1 million, are too large for microfinance and too small for most commercial investors. Strengthening these businesses builds more resilient rural economies and stronger local food systems.
GUI’s Fund 2 builds on the results of GUI’s first fund, launched in 2017. Fund 1 invested $5 million in 15 agricultural businesses that together have paid more than $50 million to farmers, created over 800 local jobs, and improved land management across more than 50,000 acres of land. One of them, Ugandan coffee company Mountain Harvest, buys from more than 3,000 farming families and pays them a 30% premium.
“This milestone reflects much more than dollars raised,” said Mark Muckerheide, CEO of Ground Up Investing. “It reflects growing confidence in the farmers, entrepreneurs and rural businesses that power local economies every day. Over the past several years, we’ve seen firsthand that when agricultural enterprises gain access to capital, farmers earn more income, businesses grow and communities become stronger. Fund 2’s north star is $10 in additional farmer income for every $1 we invest, and our vision is to create $1 billion in farmer income over the next ten years.”
Founded by Corus International in 2017, GUI was created to bring patient, impact-focused capital to promising agricultural businesses that are often underserved by traditional finance. Corus is a leading global non-governmental humanitarian assistance and development organization based in Washington, D.C. What began as an extension of Corus’ long-standing commitment to helping communities thrive has grown into a proven investment platform demonstrating that financial returns and meaningful social impact can go hand in hand.
“Corus has spent decades working alongside farmers and rural communities around the world,” said Ambassador Daniel Speckhard, president and CEO of Corus International. “Ground Up Investing has shown that when capital reaches local entrepreneurs, it creates opportunities that extend throughout entire communities. The strong response from investors reflects a growing recognition that rural businesses are not only engines of economic growth, but also essential partners in building more resilient and prosperous communities.”
About Ground Up Investing
Ground Up Investing is the impact investing arm of Corus International. The fund lends to high-impact agricultural enterprises across Africa and Latin America, combining flexible financing, local market expertise, and deep agricultural knowledge to increase rural incomes, create jobs and improve land management. Since 2017, Ground Up Investing has helped channel more than $50 million to farmers, supported more than 800 local jobs and improved agricultural management practices across more than 50,000 acres of farmland. For more information, visit groundupinvesting.com.
About Corus International
Corus International is a global organization working to end poverty through integrated, locally led solutions. Corus brings together expertise in emergency response, health, agriculture, livelihoods, education and technology to help communities withstand crisis, recover from disaster and build lasting resilience. Through Corus and its organizations — including IMA World Health, Lutheran World Relief, CGA Technologies, Ground Up Investing, Cadasta and Farmers Market Brands — the organization delivers solutions that address urgent needs while creating pathways for long-term progress. For more information, visit corus.org.
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