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Ascent Rift Valley Fund II

Equity : December 2020

BIO has invested USD 7 M in equity in Ascent Rift Valley Fund II, an SME Fund targeting fast-growing SMEs in Eastern Africa.

Amount

€ 5,743,220.00

Type of investment

Equity

Development impacts

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

Beneficiary locations

Africa: Ethiopia, Kenya, Rwanda, Tanzania, Uganda

Investment field

Investment Companies & Funds

Activity

KK.64.300 SME Fund

Organisation

Ascent Rift Valley Fund II

Domicile

Mauritius

More investments in

Ascent Rift Valley Fund II

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.

Made possible through this investment

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

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

Ascent announces first close of Ascent Rift Valley Fund II

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.

Read more

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