FMO commits $12.5m to Acumen agriculture fund
ARAF II will invest in agribusiness companies that provide smallholder farmers with access to markets, finance, agricultural inputs and advisory support.
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Dutch development finance institution FMO has committed $12.5 million to the Acumen Resilient Agriculture Fund II (ARAF II). FMO joins returning investors – the Green Climate Fund and Proparco – alongside new backers Swedfund, the Belgian Investment Company for Developing Countries (BIO), and the Fund for Agricultural Finance in Africa.
ARAF II will invest in agribusiness companies that provide smallholder farmers with access to markets, finance, agricultural inputs and advisory support.
Peter Bryde, director for private equity at FMO, said: “We are proud to continue our support of Acumen Capital Partners through anchoring ARAF II, the follow-on fund of our existing investment, ARAF I. We are excited to see the fund manager continue implementing its distinct strategy that is both commercial, impactful and supports the financial and climate resilience of smallholder farmers across Africa. ARAF II successfully reached first close at $64.5 million which is a great achievement in today’s challenging fundraising environment.”
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