First close for Inside Capital's second fund
First close for Inside Capital's second fund
Inside Capital Partners has announced the first close of its Inside Equity Fund II, with $55 million in commitments.
Inside Capital Partners has announced the first close of its second fund, Inside Equity Fund II (IEF II), with $55 million in commitments.
Returning investors are the Dutch Good Growth Fund (DGGF) and Terra Mauricia, one of the largest conglomerates in Mauritius. New investors in IEF II include the US International Development Finance Corporation, IFC, Swedfund, Mauritius Investment Corporation and BIO.
This second fund follows the successful deployment of Fund I, the first fund of $35 million, which has been fully invested in six companies. These SMEs are active in waste recycling, renewable energy, packaging, building materials and hospitality industries. IEF II will continue the strategy of supporting local champions in the South East Africa region, primarily Zambia, Madagascar, Mauritius, but also Tanzania, Mozambique, and Malawi.
“We are thrilled to reach this crucial milestone for our second fund,” said Jerome Lagesse, managing partner at Inside Capital Partners. “With a focus on making a long-term impact and being a change driver for a region dear to our hearts, Inside has made the deliberate choice of focusing on countries underserved by traditional capital providers and investing in developing local talent. Despite the current complex environment, the enthusiasm from our investors strongly recognises our vision and certainly allows us to capitalise on the work started with the first fund by sending a positive message to the markets about the potential of this region. We invite strong entrepreneurs and talents, sharing the same mindset, to reach out to discuss collaboration opportunities.”
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