US-based investor seeks local fund managers in Sh10bn plan

US-based investment company Capria is evaluating several fund managers in Kenya with a view to putting in part of its recently raised Sh10 billion with them for investment in areas of high potential returns.

Capria opened in Nairobi towards the end of last year targeting Kenya and other African countries with the Sh10.1 billion ($100 million) fund. The firm is in the process of identifying sectors to invest in, with the rider that they must be scalable, besides having impact and good financial benefits.

“With first close of its new $100 million (Sh10.1 billion) network fund, Capria recently launched an investment cycle with a focus on partnering with and investing in fund managers in Africa that invest in early-growth businesses,” said Mercy Mutua, regional director for Africa.

“We have identified strong fund managers in Kenya that we are currently in discussions with for potential partnerships with Capria.

“We are open but looking for sectors that are scalable, impactful and produce great financial returns,” she said.

The money is focused on early-growth business in Africa as long as they meet the criteria the company has set out.

Already the company has six fund managers it has been working with in Africa and wants to identify another three as it seeks to deploy the Sh10.1 billion fund.

Globally, the firm has partnered with 16 fund managers who invest in various areas through such vehicles as private equity, venture capital as well as other types of debt and equity funds.

“With six of 16 managers in the Capria Network already from the continent, Capria is now looking to expand its network to work closely with additional managers from East Africa, West Africa and Francophone West Africa to help them build world-class globally-connected funds,” said Ms Mutua.