MICROCAPITAL STORY: Acumen Fund Invests 2.8 Million into Development and Microfinance Programs in Pakistan
Summary
Acumen Fund has since expanded its focus to address the broader set of critical issues keeping the majority of the population of 160 million people in poverty. By helping families maintain a minimum standard of living, microinsurance can provide an opportunity to bounce back and take charge of their economic and social positioning in society. Acumen Fund Pakistan Director Aun Rahman stated, “The lessons that we will learn and the insights that we will gain from our new investments in FMiA, Kashf Holding Co, Micro Drip, and Sehat First will help us to build viable and scalable models for the delivery of health services and innovative irrigation solutions to rural populations.” Acumen was recently featured in BusinessWeek for their collaboration with the Salesforce.com Foundation and Skoll Foundation to create a Portfolio Data Management System (PDMS) which will be released in January 2009. “When you have no metrics, it is difficult to measure impact, and decisions get made based on anecdotes, not real data,” says Jacqueline Novogratz, founder and CEO of Acumen Fund. Acumen Fund’s Pakistan portfolio totals $6.4 million in committed investments in enterprises focusing on drip irrigation, micro insurance, housing, health clinics, and other critical needs.
