Futuregrowth invests in SA’s first-ever ECD social impact bond

JOHANNESBURG — Futuregrowth Asset Management, acting on behalf of client funds, recently concluded an investment in the Impact Bond Innovation Fund (IBIF), a South African outcome-based financing mechanism that seeks to improve early childhood learning and development (ECD) outcomes in the Western Cape. The IBIF, a social impact bond, is the first ECD-focused transaction of its type in the Global South. The transaction has been structured and led through an intermediary partnership between mothers2mothers (m2m), an international nonprofit organisation, and Volta Capital - an international impact investment structuring specialist. In this interview, Michelle Green, who is an Investment Analyst at Futuregrowth Asset Management, and David Torres, who is the Senior Advisor to the CEO at mothers2mothers, explain more about the transaction. - Gareth van Zyl