Growth Fund for SMEs in Pakistan

Delphos is currently serving the Baltoro Growth Fund (BGF), a fund comprised of $48 million in commitments from Bank Alfalah Ltd (BAFL) and the United States Agency for International Development (USAID), formed to invest growth capital into middle market companies and SMEs in Pakistan. Delphos is assisting the capital raising efforts to reach a total of over $70 million, including a potential OPIC commitment alongside commitments from U.S. investors. Ongoing investments include burgeoning pharmaceutical company (AGP) and a renewable energy project (Tricon Boston) with capital commitments from the initial closing. BGF has identified four immediate investment opportunities in the financial services, retail, transportation, and entertainment industries.



  • Financial Services

Client Name

Baltoro Growth Fund

Services Provided

  • Capital Raising


  • Asia


  • Pakistan