Nathan London designed DFIDs second-generation Africa Enterprise Challenge Fund (AECF). The AECF was born out of a report by the Commission for Africa seeking ways to meet the desperate need for innovation and entrepreneurship to stimulate pro-poor growth in Africa. The Commission recommended establishing an AECF as a $100 million multidonor fund serving the continent. Nathan London:
- Identified learned lessons from similar funds, such as the Business Linkages Challenge Fund and the Financial Deepening Challenge Fund.
- Consulted stakeholders on fund design and followed up with consultation on fund documentation specifications.
- Provided support for DFIDs fund-raising strategy and developed the full project memorandum.
- Conducted supplementary research, including on funding instruments to be used by the AECF.
- Communicated regularly with DFID and other funders so that the AECF fit internal requirements and priorities.
- Increased profile for AECF in chosen focus area.
- Increased ownership among Africa-based institutions.