Ascent announces first rolling close of ARVF II at more than US$100m

KENYA – Ascent Capital Africa, a Kenya-based private equity firm, has announced the first rolling close of its Ascent Rift Valley Fund II (ARVF II) at more than US$100 million, significantly exceeding its initial target of US$80 million. The final close of ARVF II, with a target of US$120mn, is expected in December 2021. ARVF II will invest equity in leading small and medium-sized enterprises (SMEs) in Eastern Africa, looking to take large minority or majority stakes. The fund will provide funding to scalable SME businesses, helping to drive wider…

Read More