Phatisa Food Fund 3 reaches first close
Coinciding with the close, the fund agreed to invest in Zaad Group, an African seed and crop protection platform.
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Phatisa Food Fund 3 (PFF 3) has reached an $86 million first close, with commitments from British International Investment, FinDev Canada, Norfund, Swedfund, the IFC, and Phatisa.
Building on the strategy and performance of its predecessor funds, PFF 3 will invest across Africa’s food value chain, targeting scalable businesses that combine strong commercial fundamentals with impact. The fund focuses on agri-inputs – including seeds, crop protection, fertiliser and agri-tech – and downstream activities such as processing, food production, cold chain, storage, logistics, food distribution and retail as well as related services. The fund will not invest in primary agriculture.
Coinciding with the close, the fund agreed to acquire Zaad Group, an African seed and crop protection platform, alongside management, WIPHold, the Public Investment Corporation, and the Industrial Development Corporation.
PFF 3 is targeting rolling closes over the next 12 months, with a hard cap of $300 million.
Stuart Bradley, managing partner at Phatisa said: “Investing successfully across Africa’s food value chain requires deep local experience, strong partnerships and disciplined execution. Food Fund 3 builds on over 15 years of sector focus and reflects our ability to originate proprietary opportunities, back high-quality management teams and build resilient, representative businesses that deliver both returns and impact.”
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