Frontier and emerging markets investor Sarona Asset Management has announced $1.5m of investments in Brazil and Haiti.
The private equity firm has committed $500,000 to Brazil+, which finances the receivables of 17,000 small and medium-sized companies in the country, and $1m in Haitian insurer Alternative Insurance Company (AIC).
AIC provides a special micro-insurance product aimed at offering affordable cover for the Haitian working poor.
Both investments were made through the Sarona Risk Capital Fund.
Sarona managing partner and CEO Gerhard Pries said, “These investments strengthen the ability of both companies to provide financing and insurance products to underserved SMEs and the working poor while targeting strong returns to our investors.”
The Canadian firm, which span-out from MEDA last year, manages more than $190m in emerging and developing markets around the world.
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