IFC proposes additional investment in East African fund

The IFC is proposing an additional equity investment of up to $5 million in the 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. Ascent Rift Valley Fund II is managed by Ascent Capital Management Africa II Ltd, a limited liability company established under the laws of Mauritius.

Are you seeking private equity or venture capital investment to grow your company? Africa Private Equity News now offers you the opportunity to connect with investors backing African businesses. Contact us at editor@africaprivateequitynews.com for our rate card and more information.