XSML, the fund manager active in Central and East Africa, announced the final close of the African Rivers Fund III (ARF III) at $81 million, exceeding its target of $75 million.

ARF III is XSML’s third fund under management, after its maiden fund the Central Africa SME Fund (CASF) and its second fund, African Rivers Fund (ARF), bringing total assets under management to $154 million.

According to Barthout van Slingelandt, managing partner at XSML, “This final close of ARF III...