African Rivers Fund III signs new LP

The African Rivers Fund III, managed by XSML, has received an investment from the SDG Frontier Fund. The transaction amount has not been disclosed.

African Rivers is a mezzanine fund that aims at providing growth capital to approximately 35 SMEs in the Democratic Republic of Congo, Uganda and Angola, where the availability of SME finance is limited. It wishes thereby to achieve sustainable economic development by encouraging entrepreneurship in these fast-growing markets, and by creating a local manufacturing, services and agricultural base to provide Central African economies with locally produced goods and services.

The SDG Frontier Fund is a self-managed co-investment vehicle which seeks to invest together with BIO (the Belgian Investment Company for Developing Countries) in private equity funds active in Africa and Asia.

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