Wednesday, 22 March 2017
Last updated 6 min ago
Mar 11 2008 | 2:00am ET
GroFin Capital is raising a private equity fund that will invest in small and medium enterprises in sub-Saharan Africa. The firm is looking to raise US$130 to US$150 million for the GroFin Africa Fund.
International Finance Corp. is investing up to $30 million in the new offering.
Unlike other p.e. funds, the Africa Fund will look to deploy capital to more than 500 companies, in contrast to the traditional 10 to 15 companies that a p.e. fund will invest in over the life of the fund.
GroFin, in partnership with Shell Foundation, was established in 2004 and was founded by Jurie Willemse of South Africa.