Phatisa targets $300mln for new agricultural fund | Africa Capital Digest
2017/03/20, 6*40 AM
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March 19, 2017 in Financing: Phatisa targets $300mln for new agricultural fund
Home » Financing » Phatisa targets $300mln for new agricultural fund
Phatisa targets $300mln for new
agricultural fund
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Posted on March 19, 2017
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Phatisa is aiming to raise $300 million for the Phatisa Food Fund II, a successor fund to the
Last week in brief…March 20th, 2017 If it was
Africa-focused private equity firm’s African Agriculture Fund. The new fund will target
a big number you were looking for in Africa’s
opportunities in the food and fast moving consumer goods value chain in sub-Saharan Africa.
private equity world last week, Phatisa gave it
to us. The private [more...]
The 10-year fund, which is targeting a first close by the middle of this year, has already received
a commitment of $75 million from OPIC, the U.S. Government’s development finance
institution. The fund expects to deliver strong commercial and developmental returns by
backing mid-sized FMCG and agri-business related companies well-positioned to modernize
and grow the continent’s domestic food production industry.
Phatisa Food Fund II’s predecessor fund, the $246 million African Agriculture Fund targets
investments that range between $5 million and $24 million in size. It focuses on in businesses
which field experienced management teams and have proven financial and operational track
records. The fund currently has 8 companies in its portfolio, located across sub-Saharan Africa.
Most recently, the fund acquired a significant stake in Kanu Equipment in a $31 million deal.
The November 2016 transaction gave Phatisa a controlling stake in the sub-Saharan African
equipment agricultural and construction equipment supplier, which now stands at almost 89%.
Africa
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Phatisa targets $300mln for new agricultural fund | Africa Capital Digest
2017/03/20, 6*40 AM
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