Acumen Capital Partners agriculture fund closes at $58m

The Acumen Resilient Agriculture Fund (ARAF) closed on June 30 at $58 million. This equity fund provides critical capital to support African agribusinesses that help smallholder farmers adapt to climate change. Sponsored by Acumen and anchored by Green Climate Fund (GCF), the fund is supported by the Dutch entrepreneurial development bank (FMO), the Soros Economic Development Fund, the French development institution PROPARCO (through FISEA+, the AFD Fund advised by PROPARCO), the Children’s Investment Fund Foundation, IKEA Foundation, Global Social Impact, and other investors and funders. The fund is managed by Acumen Capital Partners, a wholly owned subsidiary of Acumen.

“Smallholder farmers feed the world, but they are among the most affected by the climate crisis,” said ARAF’s managing director, Tamer El-Raghy. “ARAF’s impressive $58 million close, $8 million above our initial target for the fund, is a watershed moment and, with only 5% of climate investment directed toward adaptation, signals the beginning of a shift in climate finance. By investing in agri-startups in East and West Africa, ARAF can reduce poverty, build climate resilience, and demonstrate the impact of investing in resilient agriculture. Since we started deploying capital in 2020, our team has invested in five companies operating in Kenya, Uganda, and Nigeria.”

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