ASCENT RIFT VALLEY PARALLEL II LP
Status: Approved investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Having raised a USD 78m private equity fund that invests in SMEs in Ethiopia, Kenya and Uganda, the same team from Ascent Rift Valley Fund I are now raising that fund’s successor: Ascent Rift Valley Fund II (“ARVF II”). ARVF II has a proposed fund size of USD 120m and will execute on the same strategy as its predecessor.
What is our funding objective?
ARVF II aims to invest in and develop regional SMEs in East Africa, making use of its local presence and hands-on investment approach to do so. By investing in ARVF II, FMO can contribute to the economic growth of East Africa and help develop the private equity market in this region of the world.
Why do we fund this investment?
This investment fits FMO’s strategy, deepening a relationship with an existing partner in African private equity investing and contributes further to FMO’s ambition of being a preferred partner for growth in emerging markets.
What is the Environmental and Social categorization rationale?
Based on the risk profile of the pipeline companies, the preliminary E&S categorization is B (medium – high risk). The fund manager has shown a strong commitment towards E&S and has a well-developed environment and social management system in place as well as an experienced and dedicated ESG manager in its team. ARVF II will conduct rigorous ESG due diligence during its investment process and the team will develop E&S action plans for its portfolio companies to bring them into compliance with IFC Performance Standards.
- Website customer/investment
- http://www.ascent-africa.com
- Region
- Africa
- Country
- Africa
- Sector
- Infrastructure, Manufacturing and Services
- Publication date
- 12/31/2019
- Effective date
- 12/23/2020
- Total FMO financing
- USD 10.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B