CrossBoundary Group

Women across Africa consistently receive significantly less funding than their male counterparts. According to Africa: The Big Deal, in 2023, women-led ventures in Africa raised just above $200 million. This reflects a commendable year-on-year growth of 7% considering that overall funding in Africa shrank by 39% during the same period. However, in absolute terms, the disparity remains staggering—male-led ventures raised $2.7 billion, 13 times greater than their women-led counterparts. In 2023, Nigeria maintained its leading position in venture capital deal activity across African countries for the third year, capturing 19% of the total deal volume, according to AVCA - The African Private Capital Association. Despite this, the capital inflows are unevenly distributed, with Lagos and Abuja securing the lion’s share due to their more developed infrastructure, robust business ecosystems, and proximity to investor networks. In contrast, Northern states have significantly lagged, with pronounced funding gaps driven by historically low development indicators that have disincentivized investment in formal and informal startup ecosystems. As a result, Northern Nigerian women entrepreneurs face a dual burden of financial insecurity and systemic neglect. Despite these challenges, women in Northern Nigeria are increasingly turning to entrepreneurship as a form of empowerment to redefine traditional roles and assert economic agency. However, access to critical resources like capital, skills, market, mentorship, and professional networks remains fragmented and often inaccessible. The structural barriers and gender biases amplify the difficulties they face. In line with our mission to unlock capital in global underserved markets, CrossBoundary Advisory partnered with TT labs, Startup Kano LTD and the Northern Founders Community to convene a roundtable focused on garnering insights from women operating in Micro, Small, and Medium Enterprises (MSMEs) to address finance linked gender-nuanced challenges for female entrepreneurs in Northern Nigeria. In the “Bridging the Gender Gap in Entrepreneurship: Financing Models to Scale Women-Led Enterprises in Northern Nigeria” report, our team, Efe (Braimah) Barber, Aishat Raji, CFA, Christine Chinwuba, with contributions from Surayyah Ahmad, provide insights from the event, including key challenges restricting women’s agency and access to resources (primarily capital) in Northern Nigeria and inclusive financing solutions that are helping to overcome these barriers. #inclusivefinancing #womenentrepreneurs #Nigeria #genderequality

The backbone of India and Southeast Asia's transportation system is going electric — creating multi-million dollar investment opportunities in one of the world's fastest-growing electric vehicle segments.  📈 👉 In the last five years alone, the use of electric two-wheelers (E2W) in India has increased from 0.1% to 3.5% 🇻🇳 👉 In Vietnam, E2Ws have captured a 9% market share of the two-wheeler fleet This accelerating adoption across Southeast Asia and India marks a pivotal transition from conventional fuel-powered vehicles to electric or hybrid models. It offers valuable insights and significant opportunities for investors focused on scaling climate solutions across emerging economies. In this article, Aditi Mehta, Nandinii Chaudhury, and Kirtika Challa explore how government policies like India's $837M FAME-II scheme are working alongside private sector innovation to drive growth. They also explain how microfinance solutions, battery-as-a-service models, and battery-swapping networks are creating profitable decarbonization pathways in densely populated transportation markets. #Emobility #ElectricVehicles #EVRevolution #E2W

Jane Nduati, Legal Counsel at CrossBoundary Group, reminds us that our journey is built on the strength and sacrifices of those who paved the way for us. But progress is never passive; it calls us to action. Jane recalls an inspiring quote from Kenya's Wangari Maathai: “There comes a time when humanity is called to shift to a new level of consciousness, that time is now.” Her call for Women's History Month? “Now more than ever, we must honor Maathai's legacy by standing firm, pushing forward, and ensuring that no force can undo the strides made. I appreciate that she forged the road that allows us to walk, run, and lead.”

Motorcycles and two-wheelers are vital economic lifelines for urban cities in Africa and contribute hugely to the economy: Kenya’s boda boda industry employs around 1.5 million people. The electrification of transport is crucial for reducing emissions and enhancing energy security. Electric two-wheelers (E2Ws) are emerging as a promising sector in sub-Saharan Africa, providing economic opportunities and addressing high fuel costs. In our most recent issue of CrossBoundary Quarterly, Albert Nganga, Tombo Banda, and Lisa Kahuthu address a central question – how feasible is electric vehicle adoption in Africa? From our experience, electrification can mitigate high fuel costs and reduce maintenance of two-wheelers, issues that impact small business owners and drivers most severely. To unlock the true value of E2Ws, innovative solutions are needed – like our pilot with Ampersand for a battery-swapping network in Nairobi that enables drivers to switch out batteries for a nominal fee. To learn more, check out our latest issue of CrossBoundary Quarterly, which covers “the electrification of everything". https://lnkd.in/dEekTcRi

Driven by the need to build resilient energy systems, governments, businesses, and individuals are investing in electrification and renewable energy at an unprecedented scale. This shift is reshaping energy and transportation systems and unlocking new opportunities for growth, innovation, and investment. In the latest edition of the CrossBoundary Quarterly, our teams explore the electrification of everything—from rural mini-grids and battery-swapping hubs to e-mobility solutions and sustainable hydropower financing. They share expert insights into how increasing investment and interest are reshaping energy and transportation systems and unlocking new opportunities for growth and innovation. Featured stories in this issue: ⚡ Electrifying India's and Southeast Asia's transportation backbone by Kirtika Challa, Nandinii Chaudhury, and Aditi Mehta ⚡ Electrifying Africa's roads – and the economy – is closer than you think by Tombo Banda, Albert M. Nganga, and Lisa Kahuthu ⚡ Insights from the CrossBoundary Access team on how they are advancing electricity access and economic growth for communities through mini-grids in rural Nigeria ⚡ Leveraging capital markets to mobilize institutional capital into hydropower projects by Kirtika Challa and Daniel Zea Download and read the Quarterly here: https://lnkd.in/dK_JUzBT #EnergyAccess #Electrification #InfrastructureFinance #Emobility

To commemorate #IWD2025, Women's History Month, and the 30th anniversary of the Beijing Declaration and Platform for Action, we’re celebrating the women of CrossBoundary Group who continue to break barriers and chart their own professional path.   Osarieme Anita Omonuwa MCIArb, CIPP/E, ICC, CSSGB™, our Legal Counsel, shares her advice for women starting their careers: 🔹 Own your expertise and trust in your abilities 🔹 Stay adaptable. Growth comes from learning and evolving 🔹 Find great mentors and strong relationships that uplift you 🔹 Speak up, make your impact felt, and walk into every room with confidence   “Success isn’t just about you; lift others as you grow. Pay it forward, challenge limits, and create opportunities.”   Anita's advice is a timely reminder that success is not just about the destination but the impact we make. Here’s to the women contributing their skills and expertise to innovating and shaping the future—boldly, purposefully, and unapologetically.   #InternationalWomensDay2025 #ForALLWomenAndGirls

We are pleased to be selected for the ImpactAssets 50 2025 list of leading impact investment fund managers. The IA 50, now in its 14th year, is the industry's most recognized free database of impact investment fund managers, serving as a gateway into the world of impact investing for investors, financial advisors, and philanthropists. "We're honored to be recognized alongside other leading organizations who share our vision of using investment as a force for positive change," said CrossBoundary Group Managing Partner Matt Tilleard. "Private capital is a powerful catalyst for solving critical challenges across emerging markets while generating both financial and social returns." This year's IA 50 features 165 experienced and emerging impact investment fund managers - the highest number to date - demonstrating the continued momentum and maturation of impact investing globally. We'd like to thank our dedicated team, partners, investors, and advisors for making this recognition possible. We're also grateful to ImpactAssets for their continued leadership in highlighting impactful investment opportunities. Congratulations to fellow IA 50, IA 50 Emerging Impact Managers, and IA 50 Emeritus Impact Managers for their selection. #IA50 #fundmanagement #impactinvesting 

Our Managing Partner, Jake Cusack, joined ODI Global's Think Change podcast to discuss what public-private collaboration can achieve for frontier economies. Jake shared the CrossBoundary perspective on why every investment should be viewed through a blended finance lens, considering both public and private benefits. He emphasized that while there's enthusiasm around mobilizing private capital for development, success requires a more nuanced, ground-up approach focused on making projects truly investable. "For the finance to flow, you need bankable projects. And often the obstacle is more upstream from the moment of financial close in the readiness, the feasibility, the deal construction and bankability of these needs," noted Jake. He also highlighted how close collaboration between the private sector and policymakers can shape effective regulatory reforms - not through grandiose subsidies, but by identifying specific policy changes that remove uncertainty and enable investment to flow.

Over the past few weeks, we’ve had the opportunity to engage with students from Duke University and Georgetown University McDonough School of Business, offering insights into how investment and innovative business models shape underserved markets. 🇺🇸 In Washington D.C., our team welcomed students from Duke’s Emerging Markets Career Trek, organized by the Global Energy Access Network (GLEAN) and The James E. Rogers Energy Access Project at Duke. Their visit focused on the intersection of finance, policy, and technology in driving energy transition solutions. 🇰🇪 Meanwhile, in Nairobi, we hosted Georgetown MBA students studying energy-driven solutions for Africa’s development. Their discussions reflected a growing recognition of private capital and blended finance's role in unlocking scalable, commercially viable energy projects. Bridging capital with impact requires deep market expertise, strong financial structuring, and a commitment to long-term sustainability — areas where the CrossBoundary team continues to drive innovation. We’re excited to see how these students will accelerate sustainable, commercially viable energy and investment solutions in emerging markets.

It is always a pleasure to host alongside Convergence Blended Finance. We enjoyed catching the scenic Nairobi sunset and connecting with partners and friends from the investment and finance ecosystem.