EG Capital announces first close of debt fund
The fund will primarily focus on investing private debt in high-growth SMEs.
** For the best experience, download the free Africa Private Equity News app Android | iOS **
EG Capital has announced the first close of its EG-Economic Empowerment Fund (EG-EEF), with signed commitments over $10 million, and soft commitments over $35 million as of Q1 2025.
The target final fund size for EG-EEF is $100 million, with a hard cap of $120 million, and an expected final closing in 2026. The rolling first close will remain open until December 2025, with quarterly milestones aimed at bringing assets under management between $30 million and $60 million by year-end.
The fund will primarily focus on investing private debt in high-growth SMEs across the food and agriculture, healthcare, and education technology sectors in East Africa (Kenya, Tanzania, Rwanda, and Uganda) and Southern Africa (Zambia, Namibia, and Botswana).
Sandrine Henton, managing director of EG Capital said, “We are deeply grateful for the unwavering support of our anchor investors, including the Waterloo Foundation, managed by Cazenove Capital part of Schroders Wealth Management, Anesvad Foundation, managed by EuroCapital who also chairs Ronald Cohen's Global Steering Group for Impact Investment’s NAB for Spain, and the Swiss-based holding Regenerative. These investors joined us early, as far back as December 2022, following the challenging Covid years. Their patience and trust, as part of our anchor closing, have been essential in helping us build our investment pipeline, team, and fundraising efforts over the past two years. Their commitment truly exemplifies what it means to be catalytic investors, and we are immensely thankful for their continued partnership.”
Stay ahead in Africa's private equity and venture capital sector with Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe here