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  • The Kibo Fund II first closing at US$50 million

    4 Jul 2014

    Mauritius-based firm Kibo Capital Partners Ltd, launches its second private equity fund, The Kibo Fund II.

    Kibo Capital Partners has announced on the 5th of June 2014 the first close of its second fund,
    Kibo Fund II, totalling US$50 million. Kibo Fund II targets growth capital investments in Eastern and Southern Africa and the Indian Ocean islands.

    Investors include some of the leading global development finance institutions, such as the International Finance Corporation (IFC from the World Bank Group), the African Development Bank, DEG (a member of KfW Bankengruppe – KfW banking group of Germany), CIEL and Anglo Mauritius.  30% of the capital is from pension funds, family offices and other institutional and commercial investors.

     

    Kibo Fund II (www.kibo-capital.com) targets growth-oriented SMEs and middle-market companies.
    The Fund is seeking to make equity investments of US$4-8 million across a number of industries, including financial services, healthcare, education, other services and light manufacturing. Kibo Fund II is managed by Kibo Capital Partners Ltd, a fund management firm based in Mauritius and Nairobi.

    Commenting on the first closing, Managing Partner Thierry Hugnin said: “We appreciate the continuing support of our existing investors in Kibo’s first fund, and are excited to be partnering with several new top-tier institutions in Kibo II, as we continue to grow our investment activities.  Africa enjoys from positive economic dynamics and the investment opportunities are numerous.  We are confident to realize a solid return on investment for our shareholders whilst contributing to the emergence of a new Africa

    The Fund is expecting to raise US$80 million in total commitments by final close. “We continue to believe that we can add value to SME and mid-market businesses in our target region, and are raising additional capital to pursue further opportunities”, said Partner, Christoph Evard.

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