GroFin Africa Fund
Overview
GroFin Africa Fund is a private equity fund that provides loans and equity products, along with business support, to small businesses in various African countries. The fund focuses on providing growth finance to SMEs that lack access to commercial bank funding, are too large for microfinance institutions, and are outside the purview of private equity funds. At its final closing in August 2009, the fund surpassed its target of USD 150 million, reaching a total of USD 160 million, making it the largest growth finance fund globally at that time. The fund operates in countries including Kenya, Tanzania, Uganda, Rwanda, Nigeria, Ghana, and South Africa. The fund's strategy involves offering medium-term risk capital and value-added business support to entrepreneurs and businesses in the SME sector. This approach addresses key challenges such as access to finance and business support, enabling SMEs to succeed and drive economic and social empowerment in their societies. GroFin Africa Fund is supported by 34 international finance institutions, development organizations, and private funders who have committed nearly $540 million in capital to its funds. GroFin Africa Fund's investment philosophy centers on providing support beyond finance, combining medium-term loan capital with value-added business support. This model is based on a deep understanding of the factors that drive SME success and a steadfast belief that SME success leads to impact success. Since its inception in 2004, GroFin has invested in 735 SMEs and sustained nearly 90,000 jobs, demonstrating its commitment to fostering sustainable economic development in Africa and the Middle East.
Investment Focus
- Viable business model
- Demonstrated growth potential
- Alignment with GroFin's investment criteria
Portfolio Companies
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Frequently asked questions about GroFin Africa Fund
What sectors does GroFin Africa Fund invest in?
GroFin Africa Fund invests in Healthcare, Energy, Education, Manufacturing, Water and Sanitation, and is based in Black River, Mauritius. GroFin Africa Fund is listed as a private equity in the ConnectSafely investor database.
What stage does GroFin Africa Fund invest at?
GroFin Africa Fund backs companies at Growth, Late Stage and Buyout, writing cheques of 100K - 1.5M.
Which regions does GroFin Africa Fund invest in?
GroFin Africa Fund invests across Ghana, Kenya, Oman, Egypt, Jordan and Iraq.
What companies has GroFin Africa Fund invested in?
GroFin Africa Fund's portfolio includes GAEA Foods Ltd., Arabella Extrusion Co., L’École Dentaire Internationale, Bestever Paper Industries Ltd., Fountain Gate Academy and La Dolce Vita Restaurant.
Last updated · Source: ConnectSafely investor database
