12 °c
London
Saturday, September 23, 2023
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

Phatisa announces first close of Phatisa Food Fund 2 at US$121.5M

FurtherAfrica by FurtherAfrica
October 8, 2018
in Africa, Agriculture, Capital Markets, Development, Finance, Industry and Commerce, Private Equity
Reading Time: 3 mins read
949 29
0
Angola: World Bank makes available US$70M for local development
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

Phatisa is a sector-specific African private equity fund manager located in and operating across sub-Saharan Africa. The firm currently has three funds under management, totaling more than US$ 400 million, focused on food and affordable housing.

 

African fund management firm Phatisa has announced the first close of its successor fund to the African Agriculture Fund (AAF) – Phatisa Food Fund 2 (PFF 2), which has received capital commitments in excess of US$ 120 million.

Given the strong interest and with subsequent investors in different stages of their processes, the sector-specific fund manager says it will continue with rolling closings and expects to reach a final close target of  US$ 300 million by mid-2019.

For PFF 2, Phatisa will continue its focus on the team’s core skill set – the African food value chain – considering investments in mechanisation, inputs, poultry and meat production.

Other areas are food processing and manufacturing, logistics, aggregation and distribution across sub-Saharan Africa.

It targets buy-out and expansion transactions with an investment size of between US$ 15 million and US$ 25 million, building and exiting regional platforms.

As with AAF, by raising international capital to be invested into Africa’s food value chain, PFF 2 is aligning itself with the United Nations’ Sustainable Development Goals (SDGs), addressing in particular  SDG 1: No poverty and SDG 2: Zero hunger, through its material contribution to food security.

With its investment into African businesses, Phatisa has already accounted for the production of over 2.6 million tonnes of food and food-related products with the management saying it will continue to mark its progress by measuring its impacts against the SDGs.

Together with TechnoServe, Phatisa is aiming to raise a second technical assistance facility (TAF) to work alongside PFF 2, building on the lessons learnt and TAF’s success in AAF.

“The use of blended finance will enable the firm to increase the development impact as well as to enhance financial returns,” the fund manager said in a statement.

The first close was timed to facilitate the completion of the Fund’s first transactions, setting the anticipated investment pace.

Stuart Bradley, Joint Managing Partner said: “We are delighted to achieve this milestone. Re-investments from our first Fund account for 88 per cent of commitments, demonstrating strong support from AAF investors.”

According to Bradley, the firm continues to attract the private sector, with a 70:30 split between commercial investors and development finance institutions at first close.

“With this round, we have now raised more than US$ 400 million for the African food and housing sectors, Bradley affirmed.

Currently, Phatisa is preparing to exit a number of AAF investments.

“We are tracking solid returns, which we plan to replicate in PFF 2 – especially around inputs, mechanisation, logistics and FMCG. This is where our team of industry specialists from Unilever, Afgri, P&G, SAB Miller, Diageo and Imperial, feel at home,” said Duncan Owen, Joint Managing Partner.

Phatisa Chairperson Valentine Chitalu said: “We have built a great team that has been recognised through the support of our investor base. The team has demonstrated its ability to source and execute proprietary transactions and use our in-house industry skills to drive real value in our portfolio companies. I am very proud of what we have achieved and excited by the opportunity ahead.”

Phatisa is a sector-specific African private equity fund manager located in and operating across sub-Saharan Africa.

The firm currently has three funds under management, totaling more than US$ 400 million, focused on food and affordable housing.

Phatisa comprises a team of over 40 dedicated staff and a solid track record of managing private equity funds and commercial businesses throughout the continent.

AAF is  the continent’s first private equity fund focused solely on the agriculture and food value chain, commenced operations in 2011 and reached a final close of US$ 246 million in mid-2013, and is now fully invested.

The portfolio consists of eight companies and one subsidiary fund investment, amounting to a footprint of 21 countries.

Source: The Exchange

Related

Tags: AAFAAF investorsafricaAfrican Agriculture Fundcapital commitmentsFeaturePFF 2PhatisaPhatisa Chairperson Valentine ChitaluPhatisa Food Fund 2Private Equityregional platformsSDGssector-specific African private equity fundsub-Saharan Africasubsequent investorsTAFtechnical assistance facilityUnited Nations’ Sustainable Development Goalsафрикаأفريقياアフリカ非洲
ScanSendShare391Tweet245Share68Pin88Send
FurtherAfrica

FurtherAfrica

Founded in 2015 FurtherAfrica is an online platform centralising news and content focusing on the development and growth story of the African continent.

Related Posts

Weekend

Top 5 islands in Kenya you must visit

by See Africa Today
September 23, 2023
Weekend

6 stunning beaches in Egypt to visit in 2023

by See Africa Today
September 23, 2023
The Forbes Billionaires’ list: Africa’s richest people 2022
Development

Opportunity through adversity: 8th annual Africa risk-reward index

by Rafael Carvalho
September 23, 2023
Tech

Elon Musk’s Starlink is off to a bright start in Africa

by The Exchange
September 22, 2023
Africa

Nigeria’s smart city dream gets US$200M boost from Afreximbank

by The Exchange
September 22, 2023
Mozambique eVisa
 
MozParks

Translate this page

Read the Latest

Weekend

Top 5 islands in Kenya you must visit

by See Africa Today
September 23, 2023
0

Kenya is a small paradise teeming with beautiful landscapes, rich culture and breathtaking sceneries, not forgetting some of the best...

Read more

6 stunning beaches in Egypt to visit in 2023

September 23, 2023
The Forbes Billionaires’ list: Africa’s richest people 2022

Opportunity through adversity: 8th annual Africa risk-reward index

September 23, 2023

Elon Musk’s Starlink is off to a bright start in Africa

September 22, 2023

Nigeria’s smart city dream gets US$200M boost from Afreximbank

September 22, 2023

FurtherAfrica Partners Network

The Exchange Farmers Review Africa 360 Mozambique
TechGist Africa Energy Capital & Power Club of Mozambique
Taarifa Rwanda Web3Africa See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
O Económico Digilogic Africa  

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 107.3K other subscribers
FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
 

Loading Comments...