Ascent Rift Valley Fund II

Equity : December 2020

The SDG Frontier Fund has invested EUR 2 M in equity in Ascent Rift Valley Fund II, an SME Fund targeting fast-growing SMEs in Eastern Africa.

This is an investment by SDG Frontier Fund

Amount

€ 2,000,000.00

Type of investment

Equity

Development impacts

Local economic growth
Private sector consolidation/innovation
Promotion of ESG best practices

Beneficiary locations

Sub-Saharan Africa: Ethiopia, Kenya, Rwanda, Tanzania, Uganda

Investment field

Investment Companies & Funds

Activity

SME Fund

Organisation

Ascent Rift Valley Fund II

Website

https://ascent-fund.com/

Domicile

Mauritius

More investments in

Ascent Rift Valley Fund II

Equity € 5,743,220.00 (2020)

Other investments by

SDG Frontier Fund

SDG Frontier Fund (Equity) € 6,330,000.00 (2020)
Cathay Africinvest Innovation Fund (Equity) € 2,000,000.00 (2021)
Incofin India Progress Fund (Equity) € 2,000,000.00 (2021)
African Rivers Fund III (Equity) € 1,500,000.00 (2020)
Excelsior Capital Vietnam Private Equity Fund (Equity) € 2,000,000.00 (2020)
South Asia Growth Fund II (Equity) € 2,000,000.00 (2020)

Ascent Rift Valley Fund II (ARVF II) is a private-equity fund that will primarily invest in fast-growing SMEs in Eastern Africa, with a focus on Ethiopia, Kenya, Uganda and including the possibility to invest in Tanzania, and Rwanda.

The Fund will benefit from the lessons learnt from the predecessor fund, Ascent Rift Valley Fund I (ARVFI).

Development impacts

Local economic growth
Provision of long-term capital to SMEs

Preferred sectors include manufacturing, healthcare, education, retail, agro-processing (primary agriculture is excluded), financial services, and other services, which are key enabling sectors for job creation, productivity and local economic growth.
Private sector consolidation/innovation
Local financial institutions have a limited appetite to provide flexible long-term financing to SMEs. The fund will support long-term projects and more innovative companies that would otherwise not get financed or at prohibitive interest rates;
Promotion of ESG best practices
The fund manager is trained, organized and dedicated to integrating ESG best practices in its investment approach.

Read impact and news about this project

News

Greener money

31-08-2021

Money is getting greener. The superlative in sustainable investing today is "impact investing". A growing global market that is already worth more than $700 billion.

Article originally appeared in MT Magazine in Dutch.

News

Ascent announces first close of Ascent Rift Valley Fund II

18-05-2021

African private equity fund manager Ascent today announced the first rolling close of its Ascent Rift Valley Fund II (ARVF II) at more than USD 100 million, significantly exceeding its initial target of USD 80 million. The final close of ARVF II, with a target of USD 120 million, is expected in December 2021.

News

Repousser les frontières des investissements durables

15-12-2020

An interview with Luuk Zonneveld, An-Heleen De Greef & Eric Van Den Bossche on the SDG Frontier Fund, published in Eventail on the 10th of December, written by Cédric Boitte. This article was published in French.

News

You'll never make the world sustainable with only public money

02-07-2020

Financial return is worth twice as much if it also helps the world move forward. The Belgian government and business world collect 50 million euros for sustainable investments in the African and Asian private sector. "Investing is better than giving," says driving force Alexander De Croo, Minister of Development Cooperation. "You will only see a return on your investment if it has really made a difference."

News

SDG Frontier Fund first closing

02-07-2020

First-of-its-kind Belgian impact fund brings together 9 private investors to support sustainable economic growth in African and Asian frontier markets.

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Debt

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Equity

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740,784.67

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Debt

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6,000,000.00

Tunisia, Burkina Faso, Cameroon, Côte d'Ivoire, Ghana, Kenya, Nigeria, Senegal

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Equity

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5,000,000.00

India, Kenya, Nigeria, Senegal, Tanzania, Zambia

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Debt

Financial Institutions

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Equity

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Subsidy

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5,767,300.00

Ghana, Kenya, Malawi, South Africa, Tanzania, Uganda, Zambia

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Equity

Enterprises

Electrical Controls and Switchgear Ltd.

725,111.00

Uganda

27/01/2015

Debt

Investment Companies & Funds

European Financing Partners S.A.

6,000.00

India, Kenya, Nigeria, Senegal, Tanzania, Zambia

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Equity

Investment Companies & Funds

Grofin East Africa Fund LLC.

2,211,000.00

Kenya, Rwanda, Tanzania, Uganda

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Equity

Enterprises

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3,674,000.00

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Debt

Investment Companies & Funds

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Cambodia, India, Mongolia, Myanmar, Bolivia, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Peru, Burkina Faso, Côte d'Ivoire, Kenya, Senegal

11/09/2018

Subsidy

Investment Companies & Funds

AgRIF Coöperatief U.A.

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Cambodia, India, Mongolia, Myanmar, Bolivia, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Peru, Burkina Faso, Côte d'Ivoire, Kenya, Senegal

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Equity

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Subsidy

Financial Institutions