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For more than a quarter century, SEDF has occupied a unique place in the impact investment world. Free from the requirements of external and commercial investors, SEDF can lean into areas of market and political risk in exchange for impact across regions and themes in support of democracy and open society.
SEDF also leverages the expertise and reach of the Open Society Foundations’ programmatic grant-making, policy, and advocacy efforts, and multiple grades of investment capital—to bring a full suite of resources to bear on a particular issue. SEDF works closely with external partners across the nonprofit, public, and private sectors to strengthen individual investments and support Open Society’s larger mission and vision.
Deployed as of January 2024:
$400M+
Invested in fragile, frontier, and emerging market countries:
92%
Countries we’ve invested in:
54
Investments
Browse our current holdings, which reflect both current and historic investment themes.
Investments List
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Geography: United StatesAmount: $7.5MDate: 2019
Community Loan Fund is a Community Development Financial Institution providing capital and technical assistance to finance affordable housing, local businesses, and nonprofit and child care facilities in New Hampshire.View websiteSize $7.5MType FundGeography United StatesDate 2019 -
Geography: Latin America and the CaribbeanAmount: $7.5MDate: 2025
EcoEnterprises invests in bioeconomy companies in Latin America that preserve natural capital, mitigate climate change, and drive equitable and inclusive, sustainable development.View websiteSize $7.5MType FundGeography Latin America and the CaribbeanDate 2025 -
Geography: GlobalAmount: $7MDate: 2009
LeapFrog is a $134.9M fund that invests in businesses that offer affordable financial products and services to people in low‐income communities, with a primary focus on micro insurance.View websiteSize $7MType FundGeography GlobalDate 2009 -
Aristata Fund II builds on the initial success of Fund I in mobilizing private capital to support litigation that advances social and environmental impact.View websiteTheme Justice and Human RightsSize $6.75MType FundGeography GlobalDate 2025 -
Aristata is a first-of-its-kind impact litigation fund financing human rights and environmental claims.View websiteTheme Justice and Human RightsSize $6MType FundGeography GlobalDate 2022 -
SONG Investment Company
Geography: AsiaAmount: $6MDate: 2008Song, now managed by Aspada, was established as a $17M fund in 2008 by SEDF, Google.org, and Omidyar Foundation to invest in SMEs in India.Size $6MType FundGeography AsiaDate 2008 -
Univercells is a biomanufacturing infrastructure and services company focused on increasing the availability of affordable biologics.View websiteTheme Health EquitySize $5.9MType DirectGeography GlobalDate 2020 -
Cadence is a U.S. pharmaceutical public benefit corporation that seeks to bring to market an over-the-counter women’s contraceptive pill.View websiteTheme Justice and Human RightsSize $5.5MType DirectGeography United StatesDate 2020 -
Illumen strives to remove structural barriers impeding access to investment capital by women and minorities by educating investment decision makers about implicit biases.View websiteTheme Justice and Human RightsSize $5MType FundGeography United StatesDate 2021 -
Women’s World Banking invests in female-focused financial services companies in emerging markets, aimed at advancing gender participation at all levels.View websiteTheme Gender EquitySize $5MType FundGeography GlobalDate 2020 -
Geography: AfricaAmount: $4.4MDate: 2019
Yield Uganda Fund invests in agribusinesses that benefit smallholder farmers in Uganda.View websiteSize $4.4MType FundGeography AfricaDate 2019 -
Hewatele supports improved access to medical oxygen for hospitals and clinics in Kenya.View websiteTheme Health EquitySize $4MType DirectGeography AfricaDate 2023 -
REDI supports the development of Roma-owned businesses and enterprises.View websiteTheme Justice and Human RightsSize $4MType FundGeography EuropeDate 2022 -
Geography: GlobalAmount: $3MDate: 2019
Accion Venture Lab is a seed-stage fintecher fund focused on promoting financial access and inclusion.View websiteSize $3MType FundGeography GlobalDate 2019 -
Geography: GlobalAmount: $3MDate: 2021
Kiva Refugee Investment Fund provides senior unsecured loans to Kiva MFI Partners that work closely with displaced populations, with an initial focus on the Middle East and Latin America.View websiteSize $3MType FundGeography GlobalDate 2021