Phoenix Fund Semi-Annual Report, July-Dec 2008

Photo: Joni Kabana for Mercy Corps

The Phoenix Fund Semi-Annual Progress Report, July–December 2008

The Phoenix Fund is a social entrepreneurship fund focused on creating economic opportunity in the world's poorest countries. Through seed capital grants and loans, the Phoenix Fund makes strategic investments to implement economic development projects led by local entrepreneurs. These types of unproven and innovative programmes often encounter difficulty attracting funds from large foundations and government agencies. Phoenix Fund is a market-driven, business-minded approach to creating sustainable small businesses and open marketplaces that are at the core of any successful community. Phoenix Fund is designed to deliver the proof positive that is required for second stage funding, essential for scalability.

The Phoenix Fund currently supports eight projects in seven countries. Included in this report are summaries of the projects, including one new project that launched in October.