IFC considers investment in Uhuru Growth Fund I
IFC is considering an investment of up to $20 million in Uhuru Growth Fund I, a target $200 million mid-market growth equity fund that will be making equity/quasi-equity investments in high growth companies in Nigeria, Ghana and Côte d’Ivoire (primary focus) as well as Senegal, Mali and Burkina Faso (secondary focus).
Uhuru Growth Fund I is managed by Uhuru Partners, a private limited liability company incorporated under the laws of Luxembourg, that is owned by Dr. Adeyemi Oluyomi Osindero, Nana Adow Dankwa and Jean-Michel Kamanan.
Uhuru Growth Fund I is seeking to raise $200 million with a hard-cap of $250 million. The fund reached a first close of $113 million in March 2021.
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