On 10 December 2021, Cross-Border Impact Ventures (CBIV) announced the launch of the firm and its Women’s and Children’s Health Technology Fund. The female-led Canadian investment advisory firm has USD 30M in commitments towards an ultimate fund size of more than USD 100M and anticipates making its first investments in Q1 2022.
Innpact supported CBIV with the design of the blended finance structure, the impact management framework, the legal documentation, the selection of service providers and the closing of the fund in Luxembourg.
The Women’s and Children’s Health Technology Fund will invest in health technology companies with global growth, high return, and impact potential, that address the health needs of women, children, and adolescents or make health systems more resilient. The fund will use a gender lens to invest and will work with portfolio companies to improve their diversity and ensure products meet the needs of more users of diverse backgrounds. Cross-Border Ventures has set an ambitious impact target across its portfolio companies of 500,000 lives saved and improvements in the lives of 10 million underserved women and children in emerging markets.
Through its fund management services platform, Innpact continues to support CBIV in steering the fund through independent directorship, regulatory compliance services and best practices of impact fund management. As with all other clients of Innpact, impact management and SFDR compliance will be an essential part of the support provided. As an Impact Fund, CBIV is working towards SFDR Article 9 compliance in Europe and will be signing on to the UN-developed framework for the Principles for Responsible Investment and the International Finance Corporation’s (IFC) Operating Principles for Impact Management.