Uganda: Inua Capital closes SME fund

Investisseurs & Partenaires (I&P), through its dedicated programme I&P Development (IPDEV 2), has participated in the launch of Inua Capital, a gender-lens and impact-focused investor that provides patient growth capital to small and medium-sized enterprises in Uganda.

Inua Capital has closed its flagship evergreen fund, Inua Impact Fund, with over $8 million in commitments. The fund is sponsored by IPDEV2 and supported by other impact investors, including the EU-funded Agriculture Financing Initiative (EDFI AgriFI).

Inua Capital began its activities in 2021 and is led by Kim Kamarebe, who has significant experience in investment banking and finance, business management strategy consulting, and private equity garnered in Europe, the US and Africa.

The fund will invest equity capital in over 30 SMEs over the next decade, with financing needs ranging from $100,000 to $500,000. The fund will seek to build a gender-balanced portfolio with at least 30% of its investee companies owned or led by women. It will also seek to embed gender-inclusive practices in all its investees and ensure gender parity in its own management and governance bodies, as well as those of its investees.