ADAP Fund 2 – Brighter Investment – February 8th 2022

ADAP Capital LLC is delighted to announce its investment in Brighter Investment (BI). This is ADAP Fund 2’s 13th portfolio investment (24th for ADAP to date). Based in Accra, Ghana, BI provides financing for university students regardless of their family background or historical schooling opportunities.

“We’re really pleased to have closed on this round of financing led by ADAP Capital and are excited to substantially grow the book of business” said Thijs Mathot, Founder & CEO “We have a risk mitigation selection algorithm that allows us to select the brightest students with best career prospects and high likelihood of repaying which we believe is both advantageous to students as well as being attractive for investors. With ADAP Advisory’s support, we’re excited to continue to expand our model within Ghana and prepare to scale further in Africa”

To date, BI has worked with over 400 Ghanaian students and have adjusted and improved their model to ensure great success in repayment rates. While the effects of COVID-19 have been challenging for all involved in the education sector, BI have benefitted from increased internet penetration, especially by the young and growing population in Ghana, which allows for much quicker adoption of efficient technology tools. Having established partnerships with future employers for many of their financed graduates has also been further enhanced with great technology usage.

“We are pleased to add another complimentary education focused company to our growing portfolio in ADAP Seed Fund 2 as we strongly believe in the role of inclusive education to impact extreme poverty. We believe their model is very replicable and able to be incorporated into traditional financing across multiple other countries in Africa.” and said ADAP Founder Andy Lower, “BI has a strong track record and we are excited to support them over the next 18 months as they continue to develop their team and expand their network.”

BI’s complimentary mentorship program helps students both in their studies and supports them in their job search. Their customized repayment schedule for each student, based on their specific needs and life circumstances, makes the model accessible to a variety of students. Data driven decision processes have not only helped students to focus on the degrees that are likely to lead to the most employment opportunity, but have also helped students to make informed decisions about career paths that impacts not only themselves personally, but the wider community.

ADAP Capital has a diverse portfolio of pioneering social entrepreneurs who have innovative models that are eradicating extreme poverty in emerging markets. By investing early and then partnering with the entrepreneurs as they work through the pioneer gap, ADAP creates and captures untapped value. ADAP is committed to an inclusive investment approach; 73% of the current Fund 2 portfolio founders are female founders, 91% are people of colour. For more information please email info@adapcapital.com