Ascent Rift Valley Fund II
BIO has granted USD 37 K in technical assistance to Ascent Rift Valley Fund II, an SME Fund targeting fast-growing SMEs in Eastern Africa.
Amount
€ 323,539.00
Type of investment
Subsidy
Beneficiary locations
Investment field
Investment Companies & Funds
Activity
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).
Technical assistance
The aim of the BIO's subsidy is to set up a Technical Assistance Facility (TAF). This TAF will strengthen the economic performance (general management, finance, administration, operations,…) of portfolio companies and will improve their sustainability and ESG processes, systems and capacities.
Expected impacts
- Improve SME business performances and increase the profitability of investees
- Improve the positive impacts (E&S, quality of products, gender equality) of companies' operations
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
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.
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Equity
