FMO

company 1 Deal 2 Partners

FMO is the Dutch entrepreneurial development bank that finances sustainable private sector growth in developing countries and emerging markets. It provides capital, expertise, and partnerships to support projects in sectors like energy, financial institutions, and agribusiness, aiming for long-term positive impact and alignment with the UN Sustainable Development Goals.

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Founded 1970 600 employees

Development BankLenderInvestorAdvisor

Strategic Overview

Strong focus on impact investing, aligning with UN Sustainable Development Goals (SDGs), particularly SDG 7 (Affordable and Clean Energy), SDG 8 (Decent Work and Economic Growth), and SDG 10 (Reduced Inequalities).
Prioritizes climate action, reducing inequalities, and promoting decent work and economic growth in its investment strategy.
Often acts as a co-financier, mobilizing private capital alongside its own to maximize development impact.
Specializes in challenging markets and sectors where commercial banks might be hesitant, taking on higher risks for greater development returns.

Deal History (1)

Radiance Renewables secures $100 million funding to accelerate solar and wind expansion and invest in energy storage

Investor Solar|Onshore Wind|Storage India Mar 6, 2026 USD100M

Deal Activity from Public Sources

FMO and DEG provide $100M financing to ACWA Power for renewable energy projects in emerging markets

Financing Solar PV, Onshore Wind Emerging Markets December 2023 with ACWA Power

FMO invests $25M in the Africa Renewable Energy Fund II (AREF II) managed by Berkeley Energy

Investment Hydropower, Onshore Wind, Solar PV, Geothermal, Battery Storage Sub-Saharan Africa November 2023 with Berkeley Energy (AREF II)

FMO provides $20M loan to Banco Davivienda Costa Rica for green and inclusive finance

Financing Costa Rica October 2023 with Banco Davivienda Costa Rica

FMO provides $25M loan to ProCredit Bank Ukraine to support SMEs and green investments

Financing Ukraine September 2023 with ProCredit Bank Ukraine

FMO commits $20M to the Climate Investor One (CIO) fund managed by Climate Fund Managers (CFM)

Investment Solar PV, Onshore Wind, Hydropower, Geothermal, Battery Storage Emerging Markets August 2023 with Climate Fund Managers (CFM)

Mawingu Networks raises $4.5 million in Series B funding led by EIB and Dutch entrepreneurial development bank FMO

Financing Digital/Telecom Kenya March 2021 with Mawingu Networks

Mawingu Networks secured $1.7 million investment from a consortium including FMO, CDC Group, and Sir Richard Branson's family office

Financing Digital/Telecom Kenya 2017 with Mawingu Networks

Investment Focus

Technologies

Solar|Onshore Wind|Storage1

Geography

India1

Key People

Michael Jongeneel

CEO

Fatoumata Bouaré

CIO

Ben Morren

CFO

Track Record

Years Active

Detailed Analysis

Sectors

Energy TransitionUtilitiesDigital/TelecomTransportSocial Infrastructure

Technologies

Solar PVOnshore WindHydropowerGeothermalBiomassBattery StorageGreen HydrogenTransmissionDigital InfrastructureWater Infrastructure

Geographies

AfricaLatin AmericaAsia PacificMiddle EastEastern EuropeKenyaSouth AfricaNigeriaGhanaEgypt

Deal Stage

GreenfieldBrownfieldOperating

Deal Structure

Debt (Loans, Guarantees)EquityMezzanine FinanceFund Investments

Subsidiaries

FMO Investment Management (FMO IM)

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