Grassroots Capital Management is an impact investment manager based in the US.


Our mission is to help eliminate poverty and strengthen communities through investments in small businesses, affordable housing, sustainable agriculture and education, in both developing countries and the US. Our philosophy is to ‘invest in our values’.

We seek out and collaborate actively with others with shared values. Since 2003 Grassroots (GCM) has launched a dozen impact investment vehicles in partnership with a wide range of investors and managers.

We currently manage/advise three funds: India Financial Inclusion Fund and Caspian Impact Investments in India in collaboration with our partner Caspian Impact Investment Advisers and Prospero Microfinanzas in Latin America with Bolivian Investment Management.

LEARN MORE about Grassroots’ work.


Coinciding with the release of “An Assessment of AfriCap Governance”, authored by the Grassroots’ team, we would like to bring your attention to a post on the Center for Financial Inclusion’s blog by Amit Brar and Paul DiLeo. The blog summarizes some of the key findings of the Africap assessment.

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The full assessment on the governance of Africap has been published and is available here.  Launched in 2001, AfriCap was one of the first class of microfinance equity funds to build on the experience of Profund (1995-2005) and was the first microfinance investment fund focused exclusively on, and based in, Africa.

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IDB has agreed to invest $2 million in a new fund launched by Grassroots. The GIFI fund is a $35 million fund targeting high impact microfinance companies in Latin America.

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MHFC, a portfolio company in the India Financial Inclusion Fund (co-managed by Grassroots and Caspian) has been nominated by the Financial Times, UK for the FT ‘ArcelorMittal Boldness in Business’ award in the Entrepreneurship category.

READ MORE about what’s new at Grassroots


Paul DiLeo has co-authored a new article “Do Impact Investors expect too much?” published on Stanford Social Innovation Review Online.

Alana Heath blogs about The Millennium Development Goals, Grassroots Capital Management, and GIFI