DFC Announces Direct Equity Request for Applications


DFC seeks applications to invest in early, growth-stage companies committed to developmental impact


WASHINGTON – U.S. International Development Finance Corporation’s (DFC) Office of Equity Investments (OEI) today announced the Direct Equity Request for Applications, which invites early and growth-stage companies, working to solve critical development challenges, to submit an application for direct equity investment from DFC.

OEI is DFC’s new group dedicated to generating developmental impact through direct equity investments in emerging markets. As a financial tool, direct equity provides DFC with greater flexibility to invest in early and growth-stage companies, partner with other financial institutions, and enable investees to scale operations more efficiently to create greater development impact.

“Equity investments are highly developmental because of their ability to support early stage companies that would otherwise not be able to take on debt, especially companies in low and lower-middle income countries,” said DFC Chief Executive Officer Adam Boehler. “We are reaching further to achieve development impact through our request for applications for new direct equity investments focused on emerging markets.”

OEI is accepting applications for projects in all sectors and countries in which the agency is authorized to invest. Special consideration will be given to companies developing innovative financial, education, logistics & supply chain, and/or digital health technologies (in accordance with DFC’s Health and Prosperity Initiative). Special consideration will also be extended to investment opportunities that will advance Prosper Africa and América Crece, and investments in the Indo-Pacific, as well as DFC’s 2X Women Initiative.

OEI will review proposals on a rolling-basis and will continue to collect submissions indefinitely. Opportunities will be evaluated as part of a rigorous evaluation process upon the discretion of the DFC.

This request for applications marks DFC’s commitment to leverage all available financial tools to affect the greatest developmental impact possible. These tools include debt financing, investment funds, political risk insurance, technical development, and direct equity investments, following the passage of the Better Utilization of Investments Leading to Development (BUILD) Act.

Since DFC’s launch in January 2020, marking the official transformation from the Overseas Private Investment Corporation (OPIC), the agency has been pursuing equity investments. In June, DFC’s Board of Directors approved the agency’s first equity investment, FreshToHome, an e-commerce startup that delivers high-quality, affordable fish, meat, and produce to homes across India. In addition to strengthening food security, the equity investment will support more than 1,500 farmers and fishermen throughout the country, where 70 percent of rural households depend primarily on agriculture for their livelihood.

Interested companies can apply for an equity investment on DFC’s website using the directions for submission. To ask a question about direct equity investments, companies can contact DFC’s Office of Equity Investments: equity@dfc.gov.




U.S. International Development Finance Corporation (DFC) is America’s development bank. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.