Revolutionizing Financing for Small and Medium Enterprises in Emerging Markets.

Athena Global is an impact finance company. We offer venture debt and niche advisory services to promote access to finance for Small and Medium Enterprises (SMEs) in emerging markets.

Athena’s Core Services

We leverage our practical experience deploying capital to provide capacity building and technical assistance to impact investors and development projects.

Athena Advisors

Athena Advisors leverages decades of hands-on experience in 50 countries lending to SMEs in emerging markets to deliver highly technical strategies for inclusive impact investing.

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Athena Capital

Athena Capital addresses the Missing Middle finance gap through venture debt. We work to ensure that every viable early-stage business owner has no constraints to capital.

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Recognized by

Athena applies private sector financing approaches to solve traditional development challenges.

We are a woman-owned firm with a team of experienced, technical professionals, bringing a breadth of private sector and emerging markets experience into the entrepreneurial financing space.

Athena Capital

Through BIDUK, Athena Capital’s venture debt brand in Indonesia, we are designing financial solutions that meet the specific needs of SMEs, helping them get to their next stage of growth.

Partnering to Build Mutual Trust for SME Growth

Learn more about how Athena’s innovative approach is fostering enterprise growth, driving returns for financial institutions and contributing to the evidence base, in this Frontier Brokers video.

Designed for Growth

Learn about how Athena’s brand BIDUK fills the Missing Middle financing gap through bespoke, uncollateralized loans that meet the specific needs of SMEs in emerging markets.

Athena Advisors Works to Embed Gender Equitable Outcomes with Impact Linked Carry

Case Study from Athena’s work with a Gender-Leading, Tech-Focused Impact Fund. This includes synthesis of current impact-linked carry practices, identification and selection of gender impact metrics, and the development of a quantitative carry model.

Athena Capital Venture Debt – Evidence-Based Results

Investing at the nexus of gender and climate, BIDUK, Athena’s lending model in Indonesia, intentionally incorporates gender and climate lenses into our investment practices and decision making process. Our data driven approach yields results. Learn More

Gender Equity

>70% of loans to Women-Owned/Led Businesses (Average, by volume) 100% investees with representative gender balance and equal pay practices

Climate Impact

74% of capital deployed to firms with a positive environmental impact

Loan Losses

<10% loan losses under COVID

Repeat Clients

100% of clients who have completed one loan cycle successfully have come back for follow-on loans


40% of clients secured VC/Angel funding after 1-2 loan cycles that smoothed cash flow volatility and stimulated growth. Another 40%  are ‘main street’ businesses that won’t ever seek VC funding. And we’re okay with that.

*Data as of June 30, 2022

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