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African Agricultural Capital Fund

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CHALLENGE

Agribusinesses that work with small-holder farmers were capital constrained. There was limited investment capital in these geographies and sectors and a combination of sector and enterprise-specific risks minimized bank lending.

PROGRAM STRATEGY

The foundation is committed to relieving hunger and poverty throughout the developing world. The success or failure of smallholder farmers determines whether they have enough to eat, are able to send their children to school, and can earn any money to save. Growing these generally working-capital intensive businesses is key to improving smallholder access to inputs and markets.

PARTNER

Pearl Capital Partners
East African fund manager specializing in agricultural investments with a track record of managing the grant financed African Agricultural Capital investment fund and the African Seed Investment Fund

Foundation focus: Promote the expansion of businesses that serve smallholder farmers

INVESTMENT

Date: September 2011
Co-Investors: Equity from Gatsby Charitable Foundation and The Rockefeller Foundation; Senior debt from J.P. Morgan, with a partial guaranty from USAID

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