Ascent Rift Valley Fund II
The SDG Frontier Fund has invested USD 2.3 M in equity in Ascent Rift Valley Fund II, an SME Fund targeting fast-growing SMEs in Eastern Africa. A follow-on investment of USD 1.7 M was made in June 2022, bringing the total commitment to USD 4 M.
Amount
$ 4,000,000.00
Type of investment
Equity
Development impacts
- Local economic growth
- Private sector consolidation/innovation
- Promotion of ESG best practices
Beneficiary locations
Investment field
Investment Companies & Funds
Activity
SME Fund
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.
Other investments by
SDG Frontier Fund
- Navis Asia Credit Fund LP (Equity) $ 5,000,000.00 (2024)
- Omnivore Agritech & Climate Sustainability Fund III (Equity) $ 3,500,000.00 (2023)
- TIDE Africa II Fund (Equity) $ 2,500,000.00 (2022)
- Uhuru Growth Fund I-A SCP (Equity) $ 2,500,000.00 (2022)
- AfricInvest Financial Inclusion Vehicle (Equity) € 3,200,000.00 (2022)
- Ezdehar Mid-Cap Fund II (Equity) $ 1,700,000.00 (2021)
- Cathay Africinvest Innovation Fund (Equity) € 4,000,000.00 (2021)
- Incofin India Progress Fund (Equity) € 3,500,000.00 (2021)
- African Rivers Fund III (Equity) $ 1,700,000.00 (2020)
- Excelsior Capital Vietnam Partners (Equity) $ 2,200,000.00 (2020)
- South Asia Growth Fund II (Equity) $ 2,200,000.00 (2020)
Made possible through this investment
ACME Containers
Kenya
Manufacturer of multi-use injection moulded plastics
Diani Beach hospital
Kenya
Private hospital
Platcorp Holdings Ltd.
Kenya, Tanzania, Uganda
Platcorp provides credit to private individuals and small and medium-sized enterprises, SMEs, in Kenya, Uganda and Tanzania.
Valley Hospital
Kenya
Private hospital
Read impact and news about this project
News
SDG Frontier Fund Final Closing
29-04-2022
First-of-its-kind Belgian impact fund mobilises additional private resources to support African and Asian SMEs in their growth.
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 Bosch on the SDG Frontier Fund, published in L'Eventail on the 10th of December 2020, 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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