Agri-Vie Fund II

Equity : January 2017

Agri-Vie Fund II is a specialized food & agribusiness investment fund active in Sub-Sahara Africa.

Amount

€ 6,552,700.00

Type of investment

Equity

Development impacts

Local economic growth
Private sector consolidation/innovation
Food security & rural development
Promotion of ESG best practices

Beneficiary locations

Sub-Saharan Africa: Kenya, South Africa, Tanzania, Uganda, Zambia

Investment field

Investment Companies & Funds

Activity

SME Fund

Organisation

Agri-Vie Fund II

Website

https://www.exeocapital.com/

Domicile

Mauritius

More investments in

Agri-Vie Fund II

Subsidy € 350,000.00 (2020)

Agri-Vie Fund II is a successor fund to Agri-Vie I, a 2008 vintage, specialized food & agribusiness investment fund active in Sub-Sahara Africa. Agri-Vie Fund II will continue the same investment strategy as its predecessor fund, orienting itself to providing growth equity through influential minority positions in mid-size companies in selected subsectors in food and agribusiness.

The fundhas a total size of USD 139.1 M and is managed by Exeo capital.

Development impacts

Local economic growth
The Fund will provide equity finance to SMEs to finance expansion and productivity improvements.
Private sector consolidation/innovation
Despite growing interest in East & Southern Africa as an investment destination (PE), the current penetration of PE is still very low in the region, about one tenth of that in developed countries.
Food security & rural development
The Fund invests in the food & agribusiness sector of the region, a sector that informally and formally employs more than 60% of the labour force, while food represents 60% of household expenditure in the region. Hence employment generation, rural development, food security and consumer choice all benefit from the Fund's investments.
Promotion of ESG best practices
All investees are required to sign the AV's ESG and impact protocol which commits the company and its management to the sustainability and social vision and policies of the fund. This includes a commitment to the internationally recognized social & environmental performance standards.

Made possible through this investment

Thanks to the direct funding from BIO, the following second-line investments have been made possible.

Capital Fisheries

Zambia

Established in 1999, Capital Fisheries and its subsidiary, Capital Trucking Limited (Capital Trucking), together are the market-leading Zambian cold chain food distributor, specialising in the distribution of frozen animal proteins. Capital Fisheries is a widely recognised national consumer brand, serving across formal and informal markets as well as income classes.

Chemical Process Technologies

South Africa

Manufacturing of pesticides and other agrochemical products

Chemical synthesis company manufacturing parasitic formulations as well as advanced pharmaceutical ingredients (APIs) for the South African livestock markets.

FSDCo

Tanzania

Frostan is a food services distribution group formed through the consolidation of two existing companies in the fresh and temperature-controlled food sector in Tanzania. The consolidation involves Frostan Ltd, a Dar es Salaam-based poultry and ancillary foods business and Mtanga Foods Ltd, a red meat operation with activities in southern Tanzania and Dar es Salaam.

Glacier products

Kenya

Glacier Products Limited (GPL) is a Kenyan company that manufactures and sells a wide range of ice cream, yoghurt, and chocolate products across East Africa, under the brand name ‘Dairyland’.

Jumbo Brands

South Africa

Jumbo Brands is a South African beverage and snack manufacturer. The product basket includes coffee, cordials, fruit juice concentrates, squash, lemon juice, vinegar, and corn chips.

Marginpar Group (Kariki)

Ethiopia, Kenya

A cut flower production group, based in Kenya with operations in Kenya, Ethiopia and Holland.

Nurture Foods/Fairview Cheese Investments

South Africa

Fairview Cheese is a South African company specialized in cow and goat milk artisanal cheeses.

PPTL

Tanzania

PPTL is based in Tanga, Tanzania and is a major regional player in the production of woven polymer-based extruded products – bags, sacks and tarpaulins for the agriculture and cement industries.

TerraSan

South Africa

Terrasan is a South African fishing and aquaculture group that holds investments in aquaculture and pelagic fishing, as well as fish, fishmeal, and fish oil processing through its subsidiaries Saldanha Protein, Terrasan Pelagic, Aqunion, and Blue Ocean Mussels.

The Maia Group

South Africa

The Maia Group has been formed as a holding company to incorporate Wellness Warehouse (WW) and True Health Holdings (THH) into a new consumer health-focused platform that operates in the natural health, food, and beauty value chain as a manufacturer, wholesaler, distributor, and retailer.

Read impact and news about this project

Impact Story

Flowers of Hope

08-06-2020

BIO has invested USD 7 M in equity in Agri-Vie II, a specialized food & agribusiness investment fund active in Sub-Sahara Africa. They have invested in Marginpar Group. Mr Richard Fernandes is the CEO of Marginpar Group, formerly Kariki. This is his story.

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