Context
Armenia’s state co-investment fund, developing investment infrastructure and strategically important industries.
Objective
Attract international and domestic capital, build a portfolio of strategic initiatives and develop co-investment institutions.
Role
Deputy Chief Executive Officer and Vice President for Strategy and Marketing; led the fund’s strategy and the development of investment initiatives.
Approach
- Investment planning and prioritisation of strategic industries.
- Development of an international team and partnerships.
- ESG and a sustainable investment culture.
- Development of ARFI and ANIF portfolio initiatives: Fly Arna, AYG-1 and IM TOON.
Outcome
Over the fund’s operating period, more than $210 million in foreign and $20 million in domestic investment were attracted. The fund and its portfolio projects generated more than $14 million in tax contributions and created over 800 jobs. The ARFI investment platform was developed and Fly Arna was launched.
ANIF portfolio
ANIF / AYG-1 — 200 MW solar power project
ANIF investment portfolio: a 200 MW solar project developed by ANIF with UAE-based Masdar.
ANIF / Fly Arna — launch of a national low-cost airline
ANIF investment portfolio: aNIF and Air Arabia established a joint venture to launch Armenia’s national low-cost airline.
ANIF / Entrepreneur + State — anti-crisis investment fund
ANIF investment portfolio: aNIF created a co-investment vehicle for Armenian companies in response to the pandemic’s economic effects.
ANIF / Global Connect — international logistics expansion
ANIF investment portfolio: aNIF invested in freight operator Global Connect to expand its owned fleet and international capacity.
ANIF / Apaga Projects — tourism and regional infrastructure
ANIF investment portfolio: aNIF invested in Apaga Resort and Yell Extreme Park in Tavush to expand tourism infrastructure.
ANIF / From Seed to Farm — integrated agricultural supply chain
ANIF investment portfolio: aNIF and Yeremyan Projects established a joint venture producing feedstock for the group’s agricultural operations.
ANIF / Hard Rock Cafe Yerevan — international franchise launch
ANIF investment portfolio: aNIF co-invested in launching the international Hard Rock Cafe restaurant franchise in Yerevan.
ANIF / Clinic of Modern Surgery — healthcare infrastructure investment
ANIF investment portfolio: an ANIF anti-crisis portfolio investment supporting the Clinic of Modern Surgery’s planned capacity and service expansion.
ANIF / EU-Armenia SME Fund — growth capital for private businesses
ANIF investment portfolio: aNIF committed capital to a fund managed by Amber Capital Armenia alongside European institutional partners.
ANIF / Solis — solar energy through the EU-Armenia SME Fund
ANIF investment portfolio: solis is a portfolio investment of the EU-Armenia SME Fund, in which ANIF was an investor. The project involves a 4 MW solar plant.
ANIF / SIS Natural — international expansion of a food producer
ANIF investment portfolio: an EU-Armenia SME Fund portfolio business producing juices and preserved food under Yan and SIS brands.
ANIF / Enteria — 2 MW solar power project
ANIF investment portfolio: the EU-Armenia SME Fund invested in a solar plant operated by Enteria in Gegharkunik.
ANIF / ACX — digital asset services and technology capability
ANIF investment portfolio: eU-Armenia SME Fund invested in ACX, a technology services provider to the digital asset industry.
ANIF / IM TOON — modular housing concept
ANIF investment portfolio: aNIF developed a concept for affordable, energy-efficient modular homes using Armenian architectural references.
ANIF / Investment climate — corporate law and PPP reforms
ANIF investment portfolio: aNIF participated in legislative initiatives affecting company law and public-private partnership frameworks in Armenia.