Meet Delta Fund by Sumatoria

Meet Delta Fund by Sumatoria, one of CAJF’s 3 funds serving Latin America from the 2025 List. Building on a decade of success investing in Argentina, Sumatoria supports family farming, renewable energy, and financial inclusion, through the deployment of integrated and flexible capital: loans, recoverable grants, and blended finance instruments, paired with technical assistance that strengthens financial management, marketing, product development, and impact measurement. 

This fund is special because it was set up to serve regions historically underserved in traditional finance: Bolivia, Paraguay, Uruguay, Northern Argentina, Northern Chile, and Southern Perú. Delta Fund is also one of our 4 mature funds on the T25 list this year, meaning the fund has raised, placed, and returned capital.  

Addressing Inclusion

Latin America and the Caribbean is considered the most unequal region on the planet, where the richest 10% of the population has 12 times more income than the poorest 10%. Financial inclusion remains a critical tool to address poverty: recent estimates suggest 209 million people are living in poverty, and inclusion in financial services is one of the most effective ways to support historically excluded populations.

Sumatoria advances financial inclusion by offering credit to organizations and entrepreneurs who do not qualify for traditional bank financing. By directing resources toward small businesses, cooperatives, and ventures in the social economy and inclusive finance sectors, Sumatoria enables historically excluded actors to access both the capital and the skills needed to grow, formalize, and participate in the broader financial system. 

Quick Facts:

• Founding Date: 2014
• Fund goal: $20m
• Current Fund Size: $5m
• Size of loans: Typically range from USD 25,000 to USD 200,000, depending on the organization and project

Drawing on Sumatoria’s experience launching seven debt funds, six of which are still active, they have deployed $2.8 million in 262 loans, reaching more than 441,000 beneficiaries. They highlight their use of blended finance, which they estimate has leveraged an average of $4.7 in investment for every $1 donated. 

Their track record is impressive. Of their 262 loans, 183 remain active, with a 30 day delinquency rate of 1.58% as of Dec. 2023. Completed loans show a delinquency rate of 0.59%. These numbers challenge the common narrative that community-based enterprises, rural initiatives, or small social economy organizations are “too risky” for investment. When capital is paired with appropriate due diligence and technical support, the results are stable and sustainable.

Example Investment:

Coopsol is a cooperative dedicated to the national and international production and commercialization of organic and Fairtrade honey in northern Argentina. Based in Santiago del Estero, it brings together hundreds of small-scale beekeepers and has been a pioneer in building sustainable value chains in the Gran Chaco region, contributing to the conservation of native forests and the strengthening of rural economies. Through a loan of ARS 170 million (local currency)—equivalent to approximately USD USD 120.000 at the time of disbursement—the cooperative strengthened its logistics and productive capacity by expanding stock lines in cooperative stores, increasing storage capacity, and improving beekeeping production through new hives, genetic replacement of queen bees, and technical training for producers. This investment helped consolidate a sustainable production model that generates rural income, supports local livelihoods, and protects the ecosystems of the Gran Chaco.

Measuring What Matters

Sumatoria places a strong emphasis on impact measurement to ensure that the organizations they finance achieve meaningful social, environmental, and economic results. They use a detailed evaluation matrix that considers factors such as job creation, geographic and regional impact, inclusion of vulnerable populations, the positive and negative impacts of both the project and the organization, and the applicant’s financial and management capacity. This framework allows Sumatoria not only to assess potential borrowers carefully but also to provide targeted non-financial support, such as training in financial management, marketing, product development, and impact measurement. By combining capital with this structured guidance, Sumatoria helps borrowers strengthen their operations, better understand and improve their outcomes, and increase their long-term sustainability.

The Future

Delta Fund by Sumatoria seeks to consolidate and scale a regional blended finance platform that expands access to patient, flexible capital for organizations generating social and environmental impact across historically underserved territories in Latin America. In the coming years, the fund aims to advance toward its $20 million target, deepening its presence in Bolivia, Paraguay, Uruguay, Northern Argentina, Northern Chile, and Southern Peru, with a strong focus on rural, peri-urban, and excluded communities.

In this next phase, Delta aims to position itself as a demonstrative vehicle for the global impact investing ecosystem, showing that scale, financial discipline, and measurable impact can go hand in hand. Through strategic partnerships with territorial networks, sector organizations, philanthropic actors, and impact investors, the fund seeks to expand its reach, replicate its model in new contexts, and contribute to a more equitable and resilient financial architecture in the region.