Spanish asset management company Magallanes has landed 12 million euros ($13.8 million) for its first social impact fund, Magallanes Impacto.
Magallanes Impacto, which is being advised by Spanish impact investing company Gawa Capital, infuses in microfinance institutions internationally.
In October, Magallanes unleashed the fund with the aim of securing $22.9 million.
The vehicle has already made commitments in Chile, Peru and India and it is open to accredited backers investing a minimum of $114.743.