Female Entrepreneurship Fund
The Female Entrepreneurship Fund (FEF) is a mission-driven blended finance fund designed to close the gender credit gap by supporting financial institutions that serve women-led small and medium-sized enterprises (SMEs) in the SICA region (Central America and the Dominican Republic). Sponsored by CENPROMYPE and the Government of Luxembourg via LuxDev, FEF is a sub-fund of the Investing for Development SICAV (IforD) and advised by Total Impact Capital (TIC).
Empowering women-led SMEs in Central America
Advancing inclusive finance​
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FEF expands capital access for women-led SMEs in Central America by investing in financial institutions that embrace gender-lens strategies. These institutions must meet strict criteria and adopt best practices, ensuring women entrepreneurs receive vital financing to grow and sustain their businesses.
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Find out more: www.fefund.lu
Resilient returns for stakeholders​
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The fund utilises a blended finance structure, with about 50% first-loss capital, to reduce risk for senior tranches and attract private investment. This approach enables access to underserved segments that traditional lenders frequently overlook due to perceived risks, promoting financial inclusion.
Technical assistance​
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FEF's Technical Assistance Facility, backed by LuxDev, boosts investees and clients after investment by refining credit practices, strengthening women entrepreneurs’ management skills via partner training, and fostering innovation to create financial products tailored for female clients’ distinct needs and challenges.
Inclusive gender finance
FEF's impact objectives
€40m+ platform size
Increase the percentage of women in the workforce, senior management and boards
Increase revenue growth and operational expansion metrics
Increase the percentage of women clients and women-led SMEs
Promote gender wage equity and non-discrimination policies
Raise the percentage of portfolio disbursed to women
Create career progression activities for women
FEF investors:
