XSML Capital lands $15m from Norfund
XSML Capital provides scarce risk capital to small and medium sized companies that operate in frontier markets.
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Norfund has committed $15 million to the frontier investor XSML Capital and its new fund – African Rivers Fund IV.
XSML Capital provides scarce risk capital to small and medium sized companies that operate in frontier markets such as the Democratic Republic of Congo (DRC), Uganda and Angola. XSML’s fourth fund allows it to double its investments and expand into new markets such as Zambia.
“By investing in the fund, Norfund aims to empower local entrepreneurs to provide much needed goods and services in some of the least developed countries in Africa, while creating and sustaining viable jobs,” says Vegard Halvorsen, investment director for Norfund.
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