Ascent Rift Valley Fund II

Subsidy : February 2022

BIO has granted 185.000 USD in technical assistance to Ascent Rift Valley Fund II, an SME Fund targeting fast-growing SMEs in Eastern Africa.

Amount

€ 163,170.00

Type of investment

Subsidy

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

Website

https://ascent-fund.com/

Domicile

Mauritius

More investments in

Ascent Rift Valley Fund II

Equity € 5,743,220.00 (2020)
Equity $ 4,000,000.00 (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).

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

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

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.