# FMO

> FMO is a VC fund in The Hague backing Financial Services and Finance. See 194 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: The Hague, The Netherlands
- Total investments: 194
- Last investment: Jul 2026
- Lead investor: 55%
- Last updated: Aug 2026
- LinkedIn: http://www.linkedin.com/company/351770
- X (Twitter): http://twitter.com/FMO_development
- Website: http://www.fmo.nl/
- Facebook: http://www.facebook.com/FMOdevelopmentbank

FMO is a financial investment firm that specializes in financing businesses and projects FMO invests across the agribusiness value chain to enhance food security, support sustainability and promoting inclusive development.

## Contacts

5 contacts available for FMO. Shizune tracks 12 team members at FMO. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/fmo?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Series B | $4.5M–$46M |
| Post-IPO Debt | $25M–$420M |
| Debt Financing | $5M–$195M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Financial Services | 51 | 26% |
| Finance | 30 | 15% |
| Renewable Energy | 24 | 12% |
| Energy | 23 | 12% |
| FinTech | 20 | 10% |

103 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Debt Financing | 51 | 26% |
| Post-IPO Debt | 15 | 8% |
| Series B | 14 | 7% |
| Funding Round | 14 | 7% |
| Private Equity | 13 | 7% |

13 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| India | 29 | 15% |
| Kenya | 10 | 5% |
| The Netherlands | 7 | 4% |
| South Africa | 6 | 3% |
| Nigeria | 4 | 2% |

42 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Aleksandra Gazy | Investment Officer | 1 | https://shizune.co/investors/profile/aleksandra-gazy |
| Annette Berendsen | Principal Investment Officer | 1 | https://shizune.co/investors/profile/annette-berendsen |
| Fatoumata Bouare | Chief Risk and Finance Officer | 0 | https://shizune.co/investors/profile/fatoumata-bouare |
| Huib-Jan de Ruijter | Chief Investment Officer | 4 | https://shizune.co/investors/profile/huib-jan-de-ruijter |
| Jorrit Dingemans | Manager Private Equity | 0 | https://shizune.co/investors/profile/jorrit-dingemans |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| ETG | ETG, established in 1967, is one of the largest and fastest growing integrated agricultural conglomerates in sub-Saharan Africa, importing and exporting soft commodities to and from 48 countries including Tanzania, Kenya, Malawi, Mozambique, Nigeria and South Africa. It also has supply chain operations in China, India, America, Middle East, andSouth East Asia; merchandising desks in Europe, and; treasury companies in Singapore, Mauritius and UAE. Globally, ETG is present across 48 countries. ETG runs its business under five business verticals: 1. Fertilizer and Farm Inputs: ETG is one of the largest importers and distributors of fertilizers and farm inputs in sub-saharan africa 2. Cash traded products: Pulses, Sesame seed, Cashew and Rice are key commodities in this vertical. ETG is the world largest trader and processor of Pulses as well as world largest trader for raw cashew nuts. 3. Exchange traded commodities: Grains & oilseeds, sugar, coffee, cocoa, maize and soybean are key products in this segment. ETG is one of the major players for maize and soybean in sub-shara africa 4. Consumer Branded (Vamara): ETG operates multiple processing plants across 14 countries to manufacture products that are targeted to African consumers. ETG has 22 brands in its portfolio that offers products from vegetable cooking oil, condiments, and spreads, etc. 5. Logistics: ETG operates a very successful and integrated Logistics platform. ETG has a network of more than 400+ warehouses across 32 countries and a fleet of more than 900 trucks. ETG provided end-to-end Logistics services across sub-Sahara Africa. | $600M | Debt Financing | Jul 30, 2026 |  |
| M-KOPA Kenya Mobility | M-KOPA Kenya Mobility provides sales and financing of electric motorbikes and mobility services. It utilises a pay-as-you-go daily micro-payment model to make electric motorcycles affordable for local commercial riders and everyday earners. It is a subsidiary of African fintech platform M-KOPA. | $30M | Debt Financing | Jul 23, 2026 |  |
| M-KOPA | M-KOPA provides connected asset financing solutions for underbanked customers. Its platform combines digital micropayments and IoT connectivity to offer access to products including solar lighting, televisions, fridges, smartphones, financial services, and more. | $30M | Debt Financing | Jul 23, 2026 |  |
| Enerjisa Üretim Santralleri | Enerjisa Üretim focuses on energy production, supply, and renewable energy investments. The company operates 12 power plants, including hydroelectric and natural gas facilities, making it a significant player in Türkiye's private energy sector. Enerjisa Üretim emphasizes sustainability, digital transformation, and strategic investments toenhance its energy generation capabilities. The company also engages in energy trading and compliance with environmental standards. | $180M | Debt Financing | Jul 13, 2026 |  |
| Arohan Financial | Arohan is one of the few NBFC-MFIs in India to offer loans ranging from INR 10000 to as high as INR 100 lakh. It works with strong, local partners on the ground to further improve its reach in the remotest locations of its focus low-income geographies. Arohan also offers financial safety net products such as and non-financial products to itscustomers at affordable costs. | $30M | Debt Financing | Jul 11, 2026 |  |
| Sunsure Energy | Sunsure Energy is the partner-of-choice for some of India’s leading industrial establishments as they transition operations to Solar Power. Sunsure develops, builds, and manages large-scale and distributed renewable energy projects, including solar power plants, for both utility companies and commercial and industrial clients. Their projectstypically range across utility-scale solar farms and rooftop solar systems, as well as hybrid and energy storage solutions. | $27.4M | Debt Financing | Jul 06, 2026 |  |
| Ameriabank | Ameriabank CJSC is a universal bank offering corporate, investment and retail banking services in a comprehensive package of banking solutions. They carve out paths for improvement of your business and lifestyle, via both traditional and alternative, hyper-advanced banking technologies. | $138.3M | Debt Financing | Jun 06, 2026 |  |
| Twinco Capital | Twinco Capital provides suppliers, both large and small, with access to affordable funding and helps buyers build a competitive and socially responsible supply chain. Twinco Capital is the first company to have successfully launched this type of supply chain financing, offering to finance as early as the time of issuance of purchase orders.purchase. | $17.5M | Series B | Jun 02, 2026 |  |
| Publimovil | Publimovil offers outdoor advertising with digital and static billboards across Central America for brand visibility. | $10M | Private Equity | May 07, 2026 |  |
| Ecofy | Ecofy is a green-only NBFC in India, offering financial solutions for eco-friendly initiatives, including loans, leases, and insurance. | $41.2M | Series B | Mar 16, 2026 |  |

10 of 194 investments shown.

## Co-investors
- [British International Investment](https://shizune.co/investors/profile/cdc-group) — VC Fund, 20 deals together
- [International Finance Corporation](https://shizune.co/investors/profile/international-finance-corporation) — VC Fund, 19 deals together
- [KFW DEG](https://shizune.co/investors/profile/kfw-deg) — VC Fund, 13 deals together
- [Proparco](https://shizune.co/investors/profile/proparco) — VC Fund, 13 deals together
- [British International Investment](https://shizune.co/investors/profile/british-international-investment) — VC Fund, 9 deals together
- [Norfund](https://shizune.co/investors/profile/norfunds) — VC Fund, 9 deals together

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## FAQ

### What does FMO invest in?

FMO invests primarily in Financial Services, Finance and Renewable Energy startups, most often at Debt Financing and Post-IPO Debt stage. Most of the 194 investments tracked by Shizune back companies in India. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is FMO's check size?

FMO typically joins rounds of $4.5M–$46M at Series B, $25M–$420M at Post-IPO Debt and $5M–$195M at Debt Financing. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds FMO participates in.

### How do I contact FMO?

Public channels for FMO include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at FMO?

The team at FMO includes Aleksandra Gazy (Investment Officer), Annette Berendsen (Principal Investment Officer) and Fatoumata Bouare (Chief Risk and Finance Officer), among 12 team members tracked by Shizune. The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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