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Development Finance Institutions

Catalyzing Growth with Mission-Driven Capital

We partner with development finance institutions to design, deploy, and evaluate investment strategies that drive sustainable economic growth, attract private capital, and deliver measurable social impact.

Challenges Facing Development Institutions

Development finance institutions must balance financial performance with development impact while attracting private investment into priority sectors. They operate in complex, often high-risk environments that require careful structuring, governance, and risk management.

  • Reaching a balance between sustainable development goals and generating sufficient returns
  • Catalyzing sufficient private investment in targeted sectors and regions through public-private partnerships
  • Managing and operating within shifting bureaucratic and political environments
  • Effectively tracking and quantifying social and economic impacts of investments
  • Efficiently allocating resources to achieve the greatest measurable impact
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How We Support Development Financial Institutions

We work with development finance institutions to design and execute strategies that attract private capital, maximize development outcomes, and strengthen governance. Our advisory blends rigorous market analysis, impact measurement, and policy insight to help DFIs operate with efficiency, transparency, and purpose.

Capital Mobilization Strategies

Structure investment vehicles and partnerships to draw private sector participation into targeted sectors and regions.

Impact Measurement Frameworks

Develop and implement systems to track, quantify, and report on social and economic outcomes.

Risk Management Planning

Identify, assess, and mitigate political, regulatory, and market risks in complex operating environments.

Governance & Oversight Design

Establish frameworks that ensure transparency, accountability, and mission alignment.

Portfolio Optimization

Align capital deployment with strategic priorities to achieve maximum measurable development impact.

Past Work

See our Expertise in Action

In partnership with the Knight Foundation, we produced a series of groundbreaking reports that quantified the representation and performance of diverse managers in the U.S. asset management industry. Cited in countless media reports and other academic articles, this body of work provided the first ever comprehensive benchmark for diversity in the U.S. asset management industry. Read more here.
Knight Foundation Representation Study
Since 2020, we have worked with the Association of Asian American Investment Managers on a series of research initiatives aimed at quantifying the representation and performance of AAPI managers in the U.S. asset management industry. The reports’ findings have been published in numerous outlets, and the most recent can be found here.
AAAIM Manager Performance Studies
We closely mapped the evolution of VC investment activity in low-earth orbit, with a special focus on interactions involving the International Space Station. Based on extensive research and interviews, the final report described historical activity and recent changes, noting the activity of privately funded work in nano- and micro-satellites, non-government launch vehicles, and launch concierge services. The final report is included in a NASA publication.
NASA-Published Economic Development Report
We worked with Victoria, Australia’s startup agency, LaunchVic, to structure a public-private investment fund to encourage the development of an entrepreneurial ecosystem. Based on extensive on-the-ground and secondary research, our recommendations balanced the program's need for financial sustainability with the goal of activating significant risk capital for early-stage ventures. Read more here.
Entrepreneurial Ecosystem Development
We worked with a government agency tasked with improving the innovation ecosystem within the nation by improving the pipeline of entrepreneurial businesses and attracting both domestic and foreign capital to fund these initiatives. Backed by academic insights and custom research, we prepared a detailed series of policy recommendations for structuring various public/private initiatives to catalyze innovation and mobilize private capital.
National Entrepreneurial Ecosystem Capital Mobilization
We have worked with a number of entrepreneurs to assist in valuing their businesses using a mix of market- and cash flow-based methods; considering financing options from different types of capital providers; providing guidance throughout the deal structuring process; and supporting entrepreneurs as they grow their businesses against the backdrop of increasingly complex private capital markets.
Business Valuation for Entrepreneurs
We worked with a government-funded financial education authority to develop and host a multi-day, in-person educational conference for senior policymakers and investors active in private markets. Topics included an overview of the current private capital landscape, best practices in manager and deal evaluation, exit routes and liquidity mechanisms, and the potential impacts of recent innovations in private markets.
Multi-Day Private Markets Conference
We evaluated the performance of a development finance institution's investments in pre-frontier market VC funds and offered specific recommendations on how to enhance the program moving forward. We conducted over 80 interviews of fund managers, portfolio company managers, government officials, bankers, and other subject matter experts to supplement the sparse data and provide a detailed snapshot of the impact of each fund.
DFI Investment Performance
Answers to Frequently Asked Questions

Common Questions About Consulting for Development Finance Institutions

Development finance institutions can attract private capital by structuring blended finance vehicles, offering risk-sharing mechanisms, and providing co-investment opportunities. These approaches make investments more appealing to private investors while maintaining development objectives.

DFIs balance returns and impact by incorporating development goals into their mandates. By measuring both financial and non-financial outcomes, DFIs ensure that capital deployment catalyzes investment returns and economic development.

DFIs will provide private investors risk-reduction options through credit guarantees, political-risk insurance, co-investment opportunities, and due diligence assistance. These tools attract private investors and help them invest in emerging markets with more confidence.

Success is measured through impact frameworks that track outcomes like job creation, infrastructure improvements, and GDP contribution alongside financial performance metrics. Combining insights derived from qualitative and quantitative data provides a complete view of results.

DFIs should regularly review portfolio allocations, run stress tests, and benchmark against peer institutions. This enables them to respond quickly to changing market conditions while keeping development goals on track.

Who We Help

Expertise Translated into Real Results

Asset Owners

Stewarding Capital to Secure the Future

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Sovereign Wealth Funds

Strategic Insight for State-Led Investment

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Endowments & Foundations

Aligning Mission with Market Strategy

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Family Offices

Clarity for Generational Wealth Strategies

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Pension Funds & Insurers

Transparent Strategy for Meeting Obligations

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Private Capital Managers

Integrating Strategies for Diversified Growth

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Private Equity

Sharper Strategies for Smarter Private Equity.

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Venture Capital

Guiding Strategy from Seed to Scale

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Funds-of-Funds

Expert Guidance for Financial Growth

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Multi-Asset Managers

Strategic Guidance for Complex Multi-Asset Portfolios

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Market Participants

Guiding Markets Through Evidence-Based Policy

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Governments

Helping Governments Navigate Private Market Ecosystems

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Service Providers

Empowering Private Capital Solutions

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Industry Groups

Helping Build Private Market Understanding Through Custom Thought Leadership

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Development Finance

Catalyzing Growth with Mission-Driven Capital

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How We Help

Customized Private Market Solutions

Consulting & Advisory

Expert Guidance for Sustainable Growth

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Simulation & Benchmarking

Empowering Data-Driven Decisions

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Research

Illuminating Private Markets

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Impact Analysis

Understanding The Broader Impacts of Private Capital

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Policy Assessment

Evidence-Based Policy Insights

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Training & Workshops

Transforming Expertise into Action

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At Bella Private Markets, we are dedicated to providing world-class insights and analyses to help you navigate the complexities of the private market landscape. Our expert team is here to assist you through our consulting services, impactful research, and tailored training programs to help empower institutional decision-making.

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