Undercurrent News: $20m impact fund launches with Indonesia, Philippines fishing focus

A US non-profit is taking a new approach for encouraging sustainable fishing in the Philippines and Indonesia: Make investments that deliver an impact and "decent" returns.

The Meloy Fund, an "impact" investment fund created by the Arlington, Virginia-based non-profit Rare, has raised $10 million in capital that it plans to deploy in support of coastal fisheries in those countries. It plans to raise another $10m by the fall, invest its funds by lending to companies or buying stakes in them and begin winding down those positions after six years in order to be fully exited by 2027.  Read more