Northern Arc Investments, the alternative investment arm of Northern Arc Capital, has mobilised $23 million from overseas investors as part of first tranche of a $100 million debt fund targeted to invest in microfinance, small business finance, vehicle finance and agri-business finance. The firm announced that PG Impact Investments, a global impact investment firm backed by global private markets investment manager Partners Group, the Netherland’s Anthos Fund & Asset Management and the US-based Calvert Impact Capital have invested in it to mark its first close.