Two Dutch companies have launched what they claim is the first investment fund to target the UN’s Sustainable Development Goal (SDG) 16 — providing equal access to justice.
Dutch investment advisory firm FOUNT and the Hague Institute for Innovation of Law (HIIL) announced a strategic partnership earlier this month to launch the Innovating Justice Fund, which aims to reduce the justice gap.
The two organizations said their fund was a “first-of-its-kind” product focused on addressing equal access to justice. They stated that approximately one billion people who are affected by the justice gap each year.
The portfolio’s investments will provide funding and technical assistance to early-stage start-ups that deliver innovative justice services in emerging markets sustainably.
The Innovating Justice Fund seeks to demonstrate that it is possible for early-stage justice companies to experience growth, making it possible to invest in delivering people-centered justice services at scale.
Eligible portfolio companies must be able to demonstrate a measurable contribution towards this mission.
Through the partnership, HIIL will provide justice sector expertise, a strong presence in the justice ecosystem and a pipeline of ventures via its Justice Accelerator platform for start-ups. FOUNT brings extensive investment expertise in developing countries and managing impact strategies.
The fund primarily focuses on establishing an integrated approach to address SDG 16 (equal access to justice for all). However, it also aims to deal with SDG 5 (gender equality), SDG 8 (decent work and economic growth), and SDG 10 (reduced inequalities).
The Dutch government has provided seed capital to the fund, which is targeting an initial fundraise of €10 million ($10.4 million).