NAIROBI (Reuters) – Kenya-based private equity house Fanisi Capital will launch a second fund of at least $100 million before the end of next year to invest in new markets across sub-Saharan Africa, its managing partner said on Friday.
Fanisi’s new fund will seek to invest in markets outside of east Africa, where the first fund is focused, Managing Partner Ayisi Makatiani said.
“We may look at DRC (the Democratic Republic of Congo), Ethiopia, Sudan, South Sudan and all the way down to Zimbabwe and Zambia,” he said.
Fanisi’s first fund of $50 million, a close-ended ten year fund, was launched in 2010 and it has been invested in a high-end private school in the Kenyan capital, a Kenyan chain of retail pharmacy stores, a wholesale pharmacy business and a maize milling firm in Rwanda.
The size of the new fund: “will be driven mostly by the fact that the companies in which we have invested in are continuing to grow,” Makatiani said.
Annual growth is expected to exceed 5 percent in Kenya, Uganda, Tanzania and Rwanda this year, the countries in which the first fund is invested, he added.
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Kenyan private equity firm Fanisi eyes second fund in 2014
