NEW YORK, March 12, 2024 – SIMA Funds, a leading impact investing firm focused on harnessing capital for social and environmental impact, is honored to announce its inclusion in the ImpactAssets 50™ 2024 (IA 50) for the third time. This prestigious listing recognizes experienced impact investment fund managers who represent a broad spectrum of geographies, asset classes, and focus areas, aiming to drive significant positive change.
SIMA stands out for its commitment to creating sustainable solutions that address critical issues such as climate change, financial inclusion, and equitable growth. Our approach aligns with the IA 50’s mission to showcase funds not only for their financial performance but also for their measurable impact on society and the environment. Our unique business model and culture have been instrumental in propelling our progress, emphasizing values such as transparency, logic, fairness, teamwork, entrepreneurship, and innovation.
Since our inception, SIMA has successfully launched five innovative funds, including the Off-Grid Solar and Financial Access Senior Debt Fund I, Emerging Distributor Finance Fund (EDFF), Energy Access Relief Fund (EARF), Commercial and Industrial (C&I) Solar Green Bond, and Multi-Originator Securitization (MOSEC). These initiatives have resulted in reducing 20.4 million metric tons of CO2 emissions, improving the lives of over 25 million individuals primarily across Asia and Africa, and supporting 130,000 employments, with 36% of them being female.
SIMA has also been at the forefront of shaping standards and practices in the off-grid solar industry. In 2017, we spearheaded the development of the first Code of Conduct for the off-grid solar industry, an initiative that has significantly influenced industry norms and led to the widespread adoption of the GOGLA Code of Conduct.
Moreover, SIMA stands out as one of the few impact asset managers to establish operating companies like Asaan Ghar Finance Limited, a fintech affordable mortgage company in Pakistan, the SIMA Impact Foundation, a 501(C) US public charity operating at the intersection of philanthropy and impact investing, and Sow Good Investments, a pioneering crowdfunding platform for retail investors in the US offering impact investment opportunities.
Most recently, in 2023, SIMA achieved the first close $131M of a $150M Commercial and Industrial (C&I) Solar Green Bond, focused on supporting small to mid-size C&I solar local developers in Africa. Additionally, we established the Association for Emerging Impact Investment Managers (AEIM) – a no-cost association for asset managers with an AUM under $500 million with no floor. The association’s mission is to amplify the collective voice and visibility of emerging asset managers, foster opportunities for knowledge sharing and networking, and fortify the impact investment ecosystem through collaboration with key stakeholders.
An upcoming initiative includes the introduction of a first-of-its-kind evergreen, rated, and listed $350M Multi-Originator Securitization (MOSEC) to support midsize to larger off-grid solar companies, leveraging off-balance sheet financing in a constrained equity environment. In conclusion, SIMA’s dedication to innovation and continual growth has established it as a prominent entity in the impact investing landscape.
“We are thrilled to be recognized in the ImpactAssets 50 2024,” said Asad Mahmood, CEO of SIMA Funds. “This inclusion not only validates our team’s hard work and dedication but also reinforces our belief in the power of impact investing to create meaningful, lasting change. We are proud to stand among such distinguished companies and remain committed to leveraging our investments for the greater good.”
About SIMA Funds
Social Investment Managers and Advisors (SIMA), established in 2016 by Asad Mahmood and Michael Rauenhorst, is an impact-driven, SEC-registered investment and advisory firm. Focused on solar energy, financial inclusion, and affordable housing, SIMA aims to improve livelihoods at the Bottom of the Pyramid (BOP) across 50 countries. With a significant presence in Sub-Saharan Africa and South Asia, its team deeply understands the communities it serves. Through initiatives like the SIMA Impact Foundation and the Sow Good Investments platform, SIMA is dedicated to fostering sustainable development and empowering communities, proving its commitment to social and environmental impact. Discover more at www.simafunds.com.
About the ImpactAssets 50™
The ImpactAssets 50 is not a ranking but a curated list of standout impact investing fund managers. This resource aims to connect investors with experienced professionals who have a proven track record of seeking both financial returns and positive social and environmental impacts. For more information about the IA 50 and the selection process, please visit [IA 50 website].
Contact Information
Vivek Nair
VP – Marketing
SIMA Funds
vivek@simafunds.com