About
The Collaborative for Frontier Finance is a multi-stakeholder initiative that aims to increase access to capital for small and growing businesses in emerging markets.
WHY FRONTIER FINANCE
Small and growing businesses (SGBs) create roughly 80% of formal employment opportunities in frontier and emerging markets, making them an essential part of every economy and an important lever for social and environmental impact. However, SGBs face an estimated $940B financing gap in appropriate capital they need to grow.
SGBs are often called the “missing middle” because few investment models are tailored to their needs. They are too big for microfinance, too small for private equity, too risky and lack sufficient collateral for commercial banks, and lack the growth trajectory that venture capital seeks. Additionally, because SGBs require small amounts of capital to grow, the cost of conducting the transaction is often disproportionately high relative to the size of the investment.
Our vision and mission
To achieve a sustainable and growing small business finance ecosystem in Africa and beyond by addressing the “missing middle” financing gap. We do this by supporting and enabling local capital providers to accelerate financing solutions that target small and growing businesses in frontier markets
HOW WE WORK
We work with diverse stakeholders – including fund managers, funders, and fieldbuilders – to accelerate financing solutions that target SGBs. We aim to set a common action agenda for SGB finance; to test and scale promising financing models; and to facilitate the flow of capital to the SGB market. With a bias to action, CFF works with stakeholders to identify, co-design and launch initiatives – or specific solutions that table SGB financing challenges - that are too complex for any one stakeholder to launch on their own. We do this in three ways:
NETWORK
We connect stakeholders facing similar pain-points to a peer network of actors operating with shared principles, values, and ambitions to learn from and support one another.
ACTIONABLE RESEARCH
We facilitate research on hot topics to improve transparency within the sector, provide a practical guide for those less familiar with the sector, and dispel common misconceptions.
INITIATIVES
We identify concrete initiatives which CFF can take ownership of to provide tangible support to the broader early-stage investing sector. Through leveraging the resources of the CFF network, we’re working to amplify the voices of local capital providers.
THE IMPACT OF SGB FINANCING
Increasing appropriate capital available for SGBs will directly contribute to achieving the Sustainable Development Goals:
JOB CREATION
Create new, quality, and long-term jobs that increase incomes
(Goals 1, 8, and 10)
GOODS AND SERVICES
Provide access to essential goods and services like health, education, transportation, and more
(Goals 2, 3, 4, 6, 7, and 12)
VALUE CHAIN
Provide access to essential goods and services like health, education, transportation, and more
(Goals 2, 3, 4, 6, 7, and 12)
INNOVATION
Catalyze new approaches to serve customers in frontier markets in business model, strategy, and distribution
(Goals 2, 3, 4, 6, 7, and 12)
OUR COre Team
Drew von Glahn is the Executive Director of the Collaborative for Frontier Finance. A 20+ year veteran of Wall Street, leading over $30 billion in capital transactions across the globe, including a number of “first-of-kind” financings in the emerging and developed markets. His career includes CEO of a social venture business, co-founder of a leading advisory firm for social impact bonds, executive of VC tech fund, and CFO of a fintech start-up. He managed the World Bank’s venture philanthropy fund, a portfolio of over 100 early stage enterprises. Drew is a member of the investment committees of Calvert Impact Capital and the Nordic Development Fund’s Catalyst Facility.
Zee de Gersigny is the Director for CFF focusing on the Early Stage Capital Providers (ESCP) cluster. She has two decades of investment experience working in Africa, London and New York. Her career includes co-founding Victus Global Capital, an organisation focused on transforming agriculture and empowering women in Africa through impact investment, capacity building, and increased trade. She was the Managing Director of Momentum Africa Investments, South Africa’s third-largest life insurance company’s initiative to take Africa investments to international investors and the Chief Investment Officer of Momentum Investment Consulting. Zee is a CFA charterholder, has an Executive MBA from the University of Cape Town Business School and an MSc in Sustainable Development from the University of Sussex.
Dr. Susan de Witt is the Director for CFF focusing on the Frontier Capital Learning Lab. Dr. de Witt has been working across public and private sector in capacity as educator, researcher, entrepreneur to facilitate adoption of mechanisms that will drive more capital into social and environmentally aligned businesses. She has been part of pioneering teams at both UCT GSB Bertha Centre and Impact Investing South Africa to take concept to mainstream financial institutions. She has been directly or indirectly responsible for raising ±R300 million for outcomes-based contracts and was first to market with an ECD Impact Bond Innovation Fund in an emerging economy. She constituted and led the GSG-affiliated National Task Force for Impact Investing which has attracted support of over 100 investment professionals in support of market building. With financial support of UK’s FCDO Impact Program, she co-led the first design phase of a domestic Fund of Funds to attract affordable finance for underserved parts of the economy. She holds an MBA from the University of Cape Town.
Lisa Mwende is the CFF Operations Manager. Lisa is an accomplished professional in finance and operations with seven years of experience. She has worked for international organisations supporting teams across Africa to streamline processes, manage operations and implement projects worth millions of dollars within budget. Lisa has demonstrated & proven knowledge of financial management and oversight. She previously worked at ANDE, where she was overseeing finance operations in Africa. She has a bachelor’s degree in Commerce from Kabarak University in Kenya and is currently pursuing a master’s degree in Project Management.
Claire Labrunerie is a senior advisor to CFF, whose experience encompasses more than 30 years of global Credit and Capital Markets, Restructuring, Operations Management (FIs, NBFIs and investment management), Capital Raising, Blended Finance, and Impact Investing in frontier markets, including LATAM, Africa and Asia. Over the past decade, Claire has worked extensively with capital providers, asset owners, and start-ups to assess risk and to develop, scale and manage revenue models and investment portfolios – with a focus on social inclusion and climate. More broadly, across her three decades of experience with premier financial institutions, Claire’s work has spanned sectors including financial services, telecommunications, agribusiness, energy, and infrastructure. Serving for six years as Chief Operating Officer and Head of Global Distribution for a $9 billion fund manager, Claire brings a particularly deep understanding of investment management operations and risk management, including: fund launches and operations; trading and portfolio management; client acquisition and integrative servicing; finance & accounting; middle- and back-office operations; IT and security; and compliance. Claire oversaw global expansion and deal execution in the US, EMEA, LATAM, and Asia for organizations seeking growth in capital markets & advisory, lending, and asset management, working for companies including, SKY Harbor Capital Management, PepsiCo, HSH Nordbank, GE Capital, Adelphia Communications, JP Morgan Chase, Sumitomo Mitsui Trust, and Kidder Peabody. Claire earned a B.A with Distinction from Stanford University; an M.A from Columbia University; and an M.B.A from The Wharton School. In her spare time, Claire is an environmental advocate, serving on the Boards of Ocean Grants and Ocean Grants Foundation and working as a UNESCO World Heritage project lead for the Okefenokee National Wildlife Refuge.