DWM has been at the forefront of impact investing in emerging markets for more than two decades.
Our singular dedication to impact investing means that investing for measurable social, environmental and economic progress is not a side mission. DWM believes that by understanding the needs of underserved segments of society, investors can bring about positive change—and do so while achieving risk-appropriate returns that can unlock capital even from sources whose central mandate is not impact.
“In our view, impact is never ‘competing’ with financial returns, because a strong return proposition naturally coincides with addressing underserved areas of an economy. You must vet the business—as we do—for impact alignment and financial strength.”
Peter Johnson, Co-Founder and Managing Partner
“In our view, impact is never ‘competing’ with financial returns, because a strong return proposition naturally coincides with addressing underserved areas of a given economy. You must vet the business—as we do—for impact alignment and financial strength.”
–Peter Johnson, Co-Founder and Managing Partner
DWM Impact Questionnaire & Scorecard assessment
- Outreach to underserved segments of society
- Client benefit and welfare
- Governance
- Environmental policies
- Gender equity
- Responsibility to stakeholders, community and staff
- Contributions to the UN Sustainable Development Goals
100%
of entities funded by DWM identify alignment with at least one of the UN Sustainable Development Goals (SDGs).
93%
identify alignment with two or more of the UN Sustainable Development Goals (SDGs).
54%
identify alignment with five or more of the UN Sustainable Development Goals (SDGs).
The most frequent areas of impact for DWM investments
Small & Medium Enterprises
Financial inclusion
Women’s economic opportunity
Water and sanitation
Displaced
people
Renewable energy
Housing
Education
Agriculture
We’re dedicated to achieving and demonstrating impact
With our proprietary impact assessment protocols, incorporation of external impact-assessment frameworks, and ongoing DWM monitoring and reporting, DWM sets a high standard for impact achievement and transparency.
DWM is a signatory to the Operating Principles for Impact Management (OPIM), inaugurated in 2019, and one of the earliest to obtain an independent audit of our fulfillment of these principles. DWM’s most recent independent audit by BlueMark earned DWM a spot on BlueMark’s Practice Leaderboard, indicating top-quartile ratings across all the Principles.
For example, DWM is a signatory to the Operating Principles for Impact Management (OPIM), inaugurated in 2019, and one of the earliest to obtain an independent audit of our fulfillment of these principles.
DWM is also an early signatory to the Net Zero Asset Managers Initiative, launched in late 2020, signifying our commitment to investing aligned with the goal of net-zero greenhouse gas emissions by 2050.
“The DWM team’s ethos of openness and dedication to learning and improvement are crucial for raising the bar on best practice in the market.”
Sarah Gelfand, BlueMark President
“The DWM team’s ethos of openness and dedication to learning and improvement are crucial for raising the bar on best practice in the market.”
–Sarah Gelfand, BlueMark President
Impact spotlights
Impact spotlight
Guatemala
Génesis Empresarial is a non-profit providing microfinance in Guatemala, largely to female entrepreneurs and others in the lower end of the market. DWM began investing in Génesis Empresarial in 2008, supporting growth in its IT systems and ATM network and expansion into mobile access so Génesis Empresarial could extend its services to deeper rural areas.
In 2020, Génesis Empresarial became the only Latin American company to receive a 5-star rating in social impact from the microfinance rating agency MicroRate for two consecutive years.
Génesis Empresarial is a non-profit providing microfinance in Guatemala, largely to female entrepreneurs and others in the lower end of the market.
DWM began investing in Génesis Empresarial in 2008, supporting growth in its IT systems and ATM network and expansion into mobile access so Génesis Empresarial could extend its services to deeper rural areas. In 2020, Génesis Empresarial became the only Latin American company to receive a 5-star rating in social impact from the microfinance rating agency MicroRate for two consecutive years.
Impact spotlight
Cambodia
LOLC (Cambodia) Plc. provides those at the base of the socioeconomic pyramid with accounts, loans and other transformative financial services. When DWM bought a majority stake in 2010, the company, then called Thaneakea Phum (Cambodia), Ltd., had suffered serious deterioration in portfolio quality and profitability, but DWM saw great promise in it as both an investment and a developmental change agent. DWM restructured the board and the executive team, established internal risk, audit, and human resources protocols, and saw to it that LOLC established a culture of transparency with new financial and social reporting standards.
As its governance improved, LOLC’s loan portfolio grew significantly in both size and quality. LOLC expanded to additional rural regions and, in line with its (and DWM’s) impact mission, introduced non-financial services including financial literacy training. DWM sold its equity stake in LOLC to LOLC Private Limited in 2018 and continues to lend to LOLC.
LOLC (Cambodia) Plc. provides those at the base of the socioeconomic pyramid with accounts, loans and other transformative financial services.
When DWM bought a majority stake in 2010, the company, then called Thaneakea Phum (Cambodia), Ltd., had suffered serious deterioration in portfolio quality and profitability, but DWM saw great promise in it as both an investment and a developmental change agent. DWM restructured the board and the executive team, established internal risk, audit, and human resources protocols, and saw to it that LOLC established a culture of transparency with new financial and social reporting standards.
As its governance improved, LOLC’s loan portfolio grew significantly in both size and quality. LOLC expanded to additional rural regions and, in line with its (and DWM’s) impact mission, introduced non-financial services including financial literacy training. DWM sold its equity stake in LOLC to LOLC Private Limited in 2018 and continues to lend to LOLC.
Impact spotlight
India
Saija Finance Private Limited, India, makes loans predominantly to female borrowers in rural areas. One customer who exemplifies many is Rojida Khatun, who lives with her husband, a day laborer, and two children in a village in Bihar. In 2015, she applied to Saija for a loan to open a bangle shop and received the funds that same day. In 2016, having done well with the shop and having paid back the loan, she took a larger loan from Saija to expand her product line.
Also in 2016, DWM made a $3.5 million green loan to Saija as part of the DWM ORCA (Off-Grid, Renewable and Climate Action) Impact Note intended to finance renewable energy products. And Rojida Khatun used part of her second loan from Saija to buy solar lamps supported by this DWM note so she could keep her shop open during her village’s daily extended power cuts.
Saija Finance Private Limited, India, makes loans predominantly to female borrowers in rural areas. One customer who exemplifies many is Rojida Khatun, who lives with her husband, a day laborer, and two children in a village in Bihar. In 2015, she applied to Saija for
a loan to open a bangle shop and received the funds that same day. In 2016, having done well with the shop and having paid back the loan, she took a larger loan from Saija to expand her product line.
Also in 2016, DWM made a $3.5 million green loan to Saija as part of the DWM ORCA (Off-Grid, Renewable and Climate Action) Impact Note intended to finance renewable energy products. And Rojida Khatun used part of her second loan from Saija to buy solar lamps supported by this DWM note so she could keep her shop open during her village’s daily extended power cuts.
Impact partners
DWM collaborates with partners worldwide to contribute to the development of a more effective, transparent and sustainable impact investing industry.
PRI Principles for Responsible Investment
PRI Principles for Investors in Inclusive Finance
OPIM Operating Principles for Impact Management
GIIN Global Impact Investing Network
IRIS+ Contributor
Cerise+SPTFAlign to a single vision of responsible inclusive finance
Net Zero Asset ManagersNet zero greenhouse gas emissions
2X GlobalUnlocking gender-smart capital at scale
