By Editor, AgInvesting Media
Ground Up Investing (GUI), the impact investing arm of Washington, D.C.-based non-governmental organization Corus International, has announced a $6 million first close for its second fund.
According to the press release, and with Corus International serving as the anchor investor, Fund 2 seeks to raise a total of $20 million to provide crucial debt financing to agricultural businesses across Africa and Latin America. Founded in 2017, GUI provides patient, impact-focused capital designed to fill financial gaps for growing agricultural businesses that are typically underserved by traditional commercial finance.
Fund 2 Targets and Operations
Fund 2 aims to address a specific financing challenge by offering two-year working capital loans ranging from $250,000 to $1 million to agricultural small and medium-sized enterprises (SMEs). These loans will target businesses that need financing too large for microfinance institutions and too small for most commercial investors.
By filling this gap, GUI supports local enterprises that buy crops directly from smallholder farmers, link rural producers to markets, and create regional employment opportunities.
Fund 2 targets and operational details include:
- Target Regions: Deployment of capital to agricultural SMEs operating across six nations—Kenya, Uganda, Rwanda, Colombia, Peru, and Ecuador.
- Farmer Income Impact: Generating $200 million in new income for smallholder farmers, aiming for a primary benchmark of $10 in additional farmer income for every $1 invested.
- Land Management: Direct improvement of land management practices on more than 20,000 acres of farmland.
- Long-Term Strategic Vision: Creating $1 billion in total farmer income over the next ten years while continuing to strengthen rural economies and local food systems.
Proven Results from Fund 1
The launch of Fund 2 builds upon the track record established by GUI’s inaugural fund, which was established in 2017. Fund 1 successfully deployed $5 million in investment capital across 15 agricultural enterprises. Those investments yielded several beneficial economic and environmental results:
- Delivered more than $50 million directly to smallholder farmers.
- Created over 800 local jobs within target agricultural communities.
- Enhanced sustainable land management across more than 50,000 acres of farmland.
An example of this approach is Mountain Harvest, a Ugandan coffee enterprise supported by Fund 1. Mountain Harvest purchases coffee directly from more than 3,000 farming families while paying them a 30% premium above standard market prices, demonstrating how accessible capital directly boosts rural household incomes.
Building Resilient Rural Economies for the Future
Leaders from Ground Up Investing and Corus International emphasized that the $6 million milestone represents more than a financial achievement.
Mark Muckerheide, CEO of Ground Up Investing, noted in the release that the milestone “reflects growing confidence in the farmers, entrepreneurs and rural businesses that power local economies every day.” Highlighting the direct impact of access to capital, Muckerheide said, “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.” He highlighted Fund 2’s target of generating “$10 in additional farmer income for every $1 we invest,” alongside a broader ten-year goal of generating $1 billion in total farmer income.
Ambassador Daniel Speckhard, president and CEO of Corus International, underscored the broader role local businesses play in rural development. Drawing on Corus’s decades of experience working alongside farmers globally, Speckhard said in the release, “Ground Up Investing has shown that when capital reaches local entrepreneurs, it creates opportunities that extend throughout entire communities.” He added that the positive investor response demonstrates “a growing recognition that rural businesses are not only engines of economic growth, but also essential partners in building more resilient and prosperous communities.”
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