West African fund of funds reaches first close
The vehicle aims to mobilise domestic institutional capital for SME-focused funds across four countries.
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Savannah Impact Advisory announced the GHS 383 million (about $35 million) first close of its Ci Gaba fund of funds. The vehicle has a target size of GHS 1 billion (about $91 million).
The fund is designed to unlock domestic institutional capital to invest in private equity, venture capital and private debt funds that support SMEs across Ghana, Nigeria, Senegal and Côte d’Ivoire.
The Ci Gaba Fund of Funds is anchored by FSD Africa Investments, Small Foundation, Stanbic Investment Management Services (and its corporate trustees including Axis Pension Trust and Enterprise Trustees) and CAL Asset Management Company. The fund is also supported by FMO – Dutch entrepreneurial development bank.
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