IFC discloses investment in Ascent Rift Valley Fund II
The IFC has disclosed an equity investment of up to $10 million in Ascent Rift Valley Fund II, a 10-year closed-end generalist private equity fund targeting small and medium companies in Ethiopia, Kenya, Uganda, Tanzania and Rwanda.
The fund is seeking to raise $120 million of total committed capital and will be managed by Ascent Capital Management Africa II Ltd, a limited liability company established under the laws of Mauritius to focus on investing in Ethiopia and East Africa. The team will be led by David Owino, Lucas Kranck, Koome Imathiu and Florian Pape.
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