About the fund

Hivos-Triodos Fund Foundation (Hivos-Triodos Fund) is a joint initiative of Triodos Bank and Hivos, established in 1994.


Thanks to its funding structure Hivos-Triodos Fund is able to assume more risk. The fund provides finance – both debt and equity – to young, innovative microfinance institutions that are active in underdeveloped markets and have a specific focus on women.

Expansion of activities

Apart from investing in microfinance institutions, Hivos-Triodos Fund also invests in renewable energy and sustainable agriculture. By investing in these sectors, the fund aims to promote access to renewable energy and contribute to the sustainable development of the agricultural sector in developing countries.

Combining knowledge and experience

Hivos-Triodos Fund is building on the knowledge and experience of Hivos and Triodos Bank in renewable energy and sustainable agricultur. Investments in these broader activities preferably take place through local financial institutions, such as microfinance institutions and funds that focus on small and medium-sized enterprises.

Karel Nierop

Karel Nierop

Fund Manager Hivos-Triodos Fund - Karel Nierop joined the microfinance investment team at Triodos Investment Management in June 2012 as an Investment officer for Asia (South and South East Asia) and became Fund Manager for the Hivos-Triodos Fund in May 2015. Prior to joining Triodos Investment Management, Karel gained experience at the corporate banking department of Rabobank in the Netherlands. In addition, he also worked in Nepal as a financial advisor for a new hydropower project and was involved in a financial inclusion project. He holds a Master’s degree in Business Administration from Erasmus University Rotterdam.

Get in touch

Heidi Foppa

To find out more about investing with us, you can contact our Investor Relations staff in Europe, +31 (0)30 694 2400.

Hivos-Triodos Fund first international lender for IntelleGrow in India

IntelleGrow provides customized debt finance to small and growing businesses focused on clean energy, agriculture, education, healthcare, water & sanitation and financial inclusion.


logo Hivos

Hivos-Triodos Fund, one of the four Triodos microfinance funds, is a joint initiative of Triodos Bank and Hivos.