First close for Oasis Capital Ghana's new fund
The fund has secured $33.3 million in capital commitments.
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Oasis Capital Ghana, a fund manager focused on West Africa, has announced the first close of its $100 million Oasis Africa Fund II (OAF II). The fund has secured $33.3 million in capital commitments and expects to raise the remainder by the end of June 2025.
This latest fund builds on the track record of Oasis Capital Ghana. The firm’s initial vehicle, the Ebankese Venture Fund (EVF), was a $11 million fund dedicated to supporting small- and medium enterprises (SMEs) in Ghana. Following that, Oasis Africa Fund I (OAF I) raised $50.5 million and invested in SMEs across Ghana and Côte d'Ivoire. Both EVF and OAF I have been fully invested, deploying capital to a total of 21 businesses across various sectors.
In Ghana, some of the businesses that have benefited of Oasis Capital include Legacy Girls College, Everpure Ghana Water, SINEL Specialist Hospital, and Metropolitan Health. Meanwhile, in Côte d'Ivoire, MANSA Bank, and PISAM Hospital have also received support from Oasis Capital.
“As the fund manager, Oasis Capital integrates environmental, social, and governance (ESG) considerations into its investment decisions,” Matthew Boadu Adjei, CEO of Oasis Capital Ghana said in a statement.
“This commitment extends to a focus on gender lens investing, actively seeking opportunities to promote gender equality and empower women-led businesses,” he added.
Michael Mensah-Baah, the deputy managing director of Development Bank Ghana, one of the OAF II investors, said: “The OAF II aligns its investments with the United Nations’ Sustainable Development Goals (SDGs) including No Poverty, Good Health and Well-being, Quality Education, Gender Equality, Clean Water and Sanitation, and Life on Land.”
“This formed part of the fund’s attractiveness to include in our investment portfolio and provide targeted support to the SMEs in Ghana and Côte d'Ivoire,” he added.
The investor base includes names such as Development Bank Ghana, Venture Capital Trust Fund, GCB Capital, Stanbic Investment Management Services, ENO International, Investcorp Asset Management, CAL Asset Management, PETRA Advantage, PETRA Opportunity, Data Bank Asset Management, Standard Pensions Trust, and Oasis Capital Ghana itself.
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