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Ground Up Investing (GUI), the impact investing arm of Corus International, has made a first close of $6 million on its second fund. Corus is the anchor investor in the $20 million Fund 2, which will lend to agricultural businesses in Africa and Latin America.
The fund aims to improve land management on more than 20,000 acres of farmland and create $200 million in new income for smallholder farmers. That is $10 for every $1 invested.
“This milestone reflects much more than dollars raised. It reflects growing confidence in the farmers, entrepreneurs and rural businesses that power local economies every day. 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. Fund 2’s north star is $10 in additional farmer income for every $1 we invest, and our vision is to create $1 billion in farmer income over the next ten years,” said Mark Muckerheide, CEO, Ground Up Investing.
Ground Up Investing is the impact investing branch of Corus International. It provides loans to agricultural businesses in Africa and Latin America, using flexible financing and local knowledge to boost rural incomes, create jobs, and enhance land management.
Since 2017, it has invested over $50 million, supported more than 800 local jobs, and improved farming practices on over 50,000 acres of land.
GUI’s first fund invested $5 million in 15 agricultural businesses. Together, they have paid more than $50 million to farmers, created over 800 local jobs and improved land management on more than 50,000 acres.
One of them, Ugandan coffee company Mountain Harvest, buys from more than 3,000 farming families and pays them a 30% premium.
Fund 2 will give two-year working capital loans to agricultural small and medium-sized enterprises (SMEs) in Kenya, Uganda, Rwanda, Colombia, Peru and Ecuador.
These businesses buy crops directly from smallholder farmers, link them to markets and create local jobs. The loans they need, usually $250,000 to $1 million, are too big for microfinance and too small for most commercial investors.
“Corus has spent decades working alongside farmers and rural communities around the world. Ground Up Investing has shown that when capital reaches local entrepreneurs, it creates opportunities that extend throughout entire communities. The strong response from investors reflects a growing recognition that rural businesses are not only engines of economic growth, but also essential partners in building more resilient and prosperous communities,” said Ambassador Daniel Speckhard, President and CEO, Corus International.
Corus International is a global organisation aiming to end poverty with local solutions. It combines expertise in emergency response, health, agriculture, livelihoods, education, and technology to help communities handle crises, recover from disasters, and build resilience.
Through its various organisations, including IMA World Health, Lutheran World Relief, CGA Technologies, Ground Up Investing, Cadasta, and Farmers Market Brands, Corus aims to address immediate needs while fostering long-term progress.
