Some examples in the fund's portfolio

CACMU in Ecuador

The past ten years CACMU has gradually developed a diversified credit portfolio in the north of Ecuador. The institution has a strong focus on rural poor, agriculture and social housing. Through its sister NGO a wide range of social services are provided including medical services, health prevention campaigns, technical trainings, and so on. Because of CACMU’s strong mission and growth perspectives for the coming years, Hivos-Triodos Fund has provided CACMU with a loan.

EcoEnterprises Fund II

Hivos-Triodos Fund is among the founding shareholders of EcoEnterpises Fund II This fund targets sustainable small and medium-sized businesses that are committed to sound environmental and social practices in their operations, and looking to take the next step in terms of growth. The fund finances companies in Central America, Mexico, the Northern Andes and the Amazon Basin in Latin America. Targeted sectors are sustainable agriculture, sustainable forestry, non-timber forest products and ecotourism.

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.

Discover the impact of inclusive finance impact report

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.


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