Acumen Fund Pakistan Gets Acquired by Two UK Funds
Acumen is a non-profit venture fund aimed at the use of entrepreneurial Approach to counter Poverty over the World! Acumen made its way into Pakistan chosen by “Real Equity for All” (REALL), and also by Places for People (PfP).
The acquisition of Ansaar Management Company(AMC) was finalized last week. REALL is working in more than 20 countries, and has chosen AMC as their entry partner in Pakistan. Also PfP, a UK based property development company is looking to expand across South Asia through AMC.
AMC’s Chief Financial Officer was quoted saying over this”
This is in incredible opportunity for us. But it’s also a great opportunity to prove that social enterprises can work in Pakistan”.
Funded by 2 companies of the United Kingdom, Acumen Fund Pakistan was found in 2002. It uses Patient Capital to set up businesses and make investments that are flexible, long term and risky to some extent!
“Our investment and support to AMC has demonstrated that social impact enterprise can solve the housing problem. Especially for the poor people in a scale-able and profitable way. This has now attracted international investors that can provide the financing and expertise to massively scale up AMC to bridge the housing gap for the poor”,
said Acumen’s Pakistan Country Director Naeem Zamindar.
He further said
“We are excited by this validation and encouraged to confidently move forward with our investing activity in ventures. That is going to solve the energy, education and healthcare gaps and enhance livelihood for farmers to tackle poverty and provide a life of dignity and choice”
Acumen Fund Pakistan have high aims in 2017, lets hope for the best.