The firm says to raise an initial Sh3 billion by the end of this year from both local and external investors, with the balance to be sought over the life of the 10-year fund.
The proceeds from the new fund will be invested in sectors such as healthcare, agri-business, retail (fast moving consumer goods) and education.
Private Equity fund Fanisi Capital has set a target of raising Sh10 billion in its second round of fundraising for regional investments in Kenya, Tanzania, Uganda and Rwanda.
Fanisi says that its second fund— Fanisi Capital Fund II— will raise an initial Sh3 billion by the end of this year from both local and external investors, with the balance to be sought over the life of the 10-year fund.
The firm's managing partner Ayisi Makatiani said that it will target to raise at least 40 per cent of the funds from local investors.
“We are essentially involved in building African businesses and African value chains, and have done so successfully in the past. This is why local investors are especially keen to put money into our fund,” said Mr Makatiani.
On the external side, the International Finance Corporation (IFC) has said that it is planning to invest up to Sh750 million into the new fund in exchange for an equity stake not exceeding 20 per cent.
The proceeds from the new fund will be invested in sectors such as healthcare, agri-business, retail (fast moving consumer goods) and education.
The initial fund, which was launched in 2010 and closed last year, raised Sh5 billion which was invested in businesses such as Haltons Pharmacy, Kijenge Animal Products in Arusha, Tanzania, ProDev/Minimex Group in Rwanda, Ad Life and European Foods Africa Ltd (EFAL).
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