Kibo Capital Partners has sold its interest in the Kenyan logistics and distribution company, General Cargo Group (GCG), to majority shareholder Velogic, the logistics arm of Rogers Group. The divestment marks the second exit of Kibo’s sophomore fund Kibo II.

Kibo first backed GCG in 2016 when the company was a Mombasa-based clearing and transportation company. As a result of the investment and Kibo’s close partnership with Rogers Group, GCG transformed into a diversified logistics...