To achieve medium and long-term capital appreciation together with a positive social impact through equity and/or quasi-equity investments in:
- Financial inclusion companies, such as micro finance institutions, MSME-focused commercial banks as well as providers of specialised agri-finance, leasing, factoring and/or mortgage finance solutions, inter alia.
- Financial technology companies and other businesses acting as enablers of financial inclusion, including but not limited to (mobile) payment platform solutions, banking infrastructure solutions providers, alternative service delivery channels as well as insurance companies.
- Common equity
- Quasi Equity including but not limited to convertible debt and convertible preferred stock, with or without redemption and/or participation rights.
- Core: Kenya, Uganda, Tanzania, Rwanda and Zambia.
- Also considered - Ethiopia, South Sudan, Malawi, Zimbabwe
Target Investee Maturity Profile
- Covering the full spectrum of early-stage to more mature companies
- Start-ups considered on a highly selective basis
- US$ 2m - US$ 8m per investee, over the life of the Fund
- Initial investment amount of no less than US$ 0.5m
Target Average Investment Holding Period
- 5 – 8 years
Target Investment Profile
- Significant minority stakes, with associated minority shareholder protection rights
- Full board participation rights