Cardano Development joins forces with “Social Infra Ventures”, a new social infrastructure platform for Africa
Cardano Development (CD) has joined forces with a team of experienced affordable housing specialists to build a highly impactful social infrastructure and investment platform, dedicated to Africa. Social Infra Ventures (SIV) will build a bridge between impact investors and investment opportunities in the social infrastructure space, contributing to closing the vast SDG-funding gap.
CD sees this new venture as an excellent entry into the affordable housing and sustainable community world due to the significant human development potential that the platform presents. The new venture also provides a great opportunity to strengthen and increase the capacity of local capital markets and the real economy in the frontiers, paving the way for inclusive and resilient economic growth.
SIV deploys a multi-asset strategy with a team which has a wealth of experience, local knowledge and presence.The SIV team has worked together since 2005, and delivered 800.000 sqm, 13.000 residential units (of which 90% affordable). However, the development does not stop at housing, SIV will also build clinics, schools, student accommodation, hotels, retail and office space, to create well-rounded green, inclusive and sustainable communities.
The team believes that its passion for developing innovative and creative investment solutions is a fundamental element to achieving success. With professional excellence and commitment to the highest ethical standards, SIV is dedicated to creating long-term value through best-in-class investment strategies designed to strengthen communities in Africa.
Cardano Development and SIV are grateful to The German Kreditanstalt für Wiederaufbau (KfW), on behalf of the German Federal Ministry for Economic Cooperation and Development, for their support during the incubation and development phase of SIV.
Daniel Font, Social Infra Ventures, COO and CEO North Africa
“Joining forces with CD to create SIV is the perfect combination, SIV will provide scalable and replicable financial solutions to deliver essential social infrastructure. Africa’s population is predicted to double to 2.5 billion by 2050, this will make it the most populated region on earth. SIV is delighted to be working with CD to develop green, inclusive and sustainable communities for Africa’s future generations by providing affordable housing for rent or sell and social facilities.”
Joost Zuidberg, Cardano Development, CEO
“Cardano Development is delighted to be part of the Social Infra Ventures platform and support the tightening of the currently ever-increasing affordable housing gap in Northern Africa and beyond, SIV provides a unique opportunity to work towards closing this gap. We would like to thank the German Kreditanstalt für Wiederaufbau (KfW), one of the world’s leading promotional banks, on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) who provided the critical early-stage financing to support the creation of Social Infra Ventures.”
About Cardano Development:
Cardano Development (CD) is an incubator and fund manager, established in 2007. Through careful risk-management analysis in data-poor settings, CD identifies scalable solutions that help to make frontier financial markets more inclusive, investible, and sustainable to unlock lasting economic value. CD creates solutions for local currency, credit, and liquidity risks in these markets. With over USD 6 billion assets and USD 1.5 billion capital under management, CD supports its scale-up funds and a number of start-ups with ongoing management services, financial support and corporate governance oversight. Cardano Development works with reputable partners, including foundations, governments, impact investors, institutional investors and commercial partners. www.cardanodevelopment.com.
For further information, please contact:
Maria-Pia Kelly
Investor Relations (Social Infra Ventures)
[email protected]
