Catalyst Principal Partners, the Kenyan private equity firm set up by former Actis dealmaker Paul Kavuma, is reported to have exceeded its initial target for its maiden fund by a quarter.
The $125m Catalyst Fund 1 will invest in a range of consumer growth-related opportunities in east Africa, Reuters quoted Kavuma – who left Actis East Africa to found Catalyst in 2009 – as saying at a news conference on Thursday.
The vehicle will invest amounts of $5m to $20m in companies in the consumer goods, retail, technology, services, manufacturing and engineering sectors, the report said, and has already invested in Tanzanian manufacturer Chemi Cotex.
The fund will invest in Kenya, Uganda, Tanzania, Ethiopia, Rwanda and the Democratic Republic of Congo, the report added.
Investors in the fund include the IFC, European Investment Bank, African Development Bank and the German Investment and Development Corp.
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