Finland to invest €20m in ADB Ventures fund

Finland will invest EUR 20 million in the Ventures Investment Fund 1 of the Asian Development Bank (ADB). The investment will be made from the appropriation for development policy investments, said an official press release.

ADB Ventures Investment Fund 1 is focused on technology-driven startups that offer solutions to fighting climate change and promoting gender equality.

In addition to Finland, the Nordic Development Fund (NDF), the multilateral Clean Technology Fund, and South Korean Ministry of Economy and Finance are investing in the ADB fund.

“ADB Ventures underlines Finland’s longstanding support for clean technology investments in emerging markets. It provides a new mechanism to leverage best-in-class clean technologies for climate and gender impact. Finland and the NDF will contribute a strong Nordic dimension to the ADB Ventures Investment Fund, and many of its technology solutions are of Nordic origin,” said Development Cooperation and Foreign Trade Minister Ville Skinnari.

The fund’s mandate covers 17 years. It will invest in companies operating in cleantech, agricultural technology, fintech, and health technology solutions. The return on investments will reflow to Finland before the investment fund’s mandate expires.