Pearl Capital Partners

Pearl Capital Partners is a venture capital firm investing in small and medium-sized agribusinesses in East Africa, with a focus on Uganda. Founded in 2005, the company invests between $0.25 million to $2.5 million per company using a combination of equity, quasi-equity, equity-related, and debt investments.

David Wangolo

Investment Director

36 past transactions

Newman Foods

Private Equity Round in 2022
Newman Foods is an agro-processing company based in Kampala that specializes in the production, export, and supply of a wide range of fresh agricultural products. The company focuses on manufacturing and marketing branded consumer foods, which are distributed through retail stores both locally and regionally. In addition to its domestic operations, Newman Foods is engaged in the aggregation and export of fresh fruits and vegetables to the European market. The company also promotes modern commercial farming by advising and encouraging local production, while emphasizing sustainable agricultural practices. Its product offerings include fresh produce, packaged food items, and processed chili sauces, catering to a variety of consumer preferences.

Kamp Feed

Debt Financing in 2022
Kamp Feed is a food producer of nutritional animal feeds that specializes in pelleted animal feeds.

Kamp Feed

Private Equity Round in 2022
Kamp Feed is a food producer of nutritional animal feeds that specializes in pelleted animal feeds.

Enimiro

Private Equity Round in 2022
Enimiro operates a vertical supply chain management platform focused on connecting Ugandan smallholder farmers with local investors. Through its mobile app, Enimiro enables urban investors to support farming projects and earn proceeds while helping farmers increase harvests and diversify income sources.

Sausage King 3000 Uganda

Venture Round in 2021
Sausage King 3000 Uganda offers fresh and processed beef products to all income groups in Uganda. The company aims to produce quality meat products on the African Continent and to educate consumers about the value of sausages as a nutritious food option. In addition to serving local markets, Sausage King 3000 Uganda also serves international hotels and supermarkets.

Sekajja Agro Farms

Debt Financing in 2021
Sekajja Agro Farms Limited is a Kampala-based poultry farm that specializes in rearing day-old chicks until they reach maturity. The company distributes mature birds as live chickens and also offers dressed chicken to both informal and formal markets. In addition to its core poultry operations, Sekajja Agro Farms operates a feed mill, an abattoir, and a cold chain to ensure the quality and safety of its products. The company also has branded retail outlets, which further enhance its presence in the marketplace.

Sekajja Agro Farms

Private Equity Round in 2021
Sekajja Agro Farms Limited is a Kampala-based poultry farm that specializes in rearing day-old chicks until they reach maturity. The company distributes mature birds as live chickens and also offers dressed chicken to both informal and formal markets. In addition to its core poultry operations, Sekajja Agro Farms operates a feed mill, an abattoir, and a cold chain to ensure the quality and safety of its products. The company also has branded retail outlets, which further enhance its presence in the marketplace.

AMFRI Farms

Venture Round in 2021
AMFRI Farms is a company engaged in the production, processing, and export of organic fruits, vegetables, herbs, and spices. It offers a diverse range of frozen products, including apple banana puree, mango pulp, and various herbs and spices such as chilli, vanilla, coffee, lemon balm, dill, and turmeric. Additionally, AMFRI Farms exports fresh produce, including jackfruit, avocados, Irish potatoes, pumpkins, and sweet potatoes. The company aims to promote bio-dynamic agricultural practices and foster a deeper connection to nature within the communities it serves.

Pura Organic Agro Tech

Private Equity Round in 2021
Pura Organic Agro Tech is a producer of cassava.

Pura Organic Agro Tech

Debt Financing in 2021
Pura Organic Agro Tech is a producer of cassava.

NASECO

Private Equity Round in 2020
NASECO (1996) Ltd. is a prominent seed company based in Kampala, Uganda, specializing in the production and trading of various agricultural seeds. Founded in 1996, the company primarily focuses on upland rice, cowpea, and maize seeds, while also offering a diverse range of products including soybean, sorghum, groundnut, finger millet, pearl millet, bush bean, sunflower, and sesame seeds. NASECO markets its seeds to non-governmental organizations both within Uganda and internationally, and distributes its products through wholesale and retail channels across the country. With operations in regions like Hoima district and a notable presence in Northern Uganda, Southern Sudan, and Eastern Congo, NASECO plays a significant role in enhancing agricultural productivity in the region.

Clarke Farm

Private Equity Round in 2019
Clarke Farm specializes in the cultivation and processing of Robusta coffee, producing a high-quality grade known for its low defect rate. The company employs advanced planting materials and agronomic practices to ensure superior coffee production.

Raintree Farms

Private Equity Round in 2019
Raintree Farms is an agricultural company based in Masindi, Uganda, founded in 2015. It specializes in growing and processing Moringa Oleifera crops, which are sold to the nutritional, beauty, and health markets as a source of vitamins and minerals. The company offers premium, organically certified leaf powder and oil tailored to client requirements. In addition to its core business, Raintree Farms provides programs such as the Secured Income Program and Moringa Cultivation Boot Camp to support farmers in earning a secure income from commercializing their land for Moringa Oleifera cultivation.

Chemiphar

Private Equity Round in 2019
Chemiphar (U) Ltd. is an accredited analytical laboratory and inspection company based in Kampala, Uganda, established in 1998. The company specializes in providing laboratory research and testing services, focusing on food safety and quality from farm to consumer. Chemiphar offers a range of inspection and testing services for various sectors, including food and beverages, pharmaceuticals, cosmetics, and seeds. Its services are particularly aimed at agribusinesses that need to comply with international standards for both export and local certification of their processed and value-added products. Through its comprehensive laboratory testing, Chemiphar helps clients ensure the safety and quality of their products.

Central Coffee Farmers Association

Private Equity Round in 2018
Central Coffee Farmers Association is a farmer-owned organization dedicated to supporting coffee farmers in Central Uganda. It focuses on establishing sustainable systems for poverty alleviation among its members through market-based agricultural practices. The association collects dried coffee beans, which are then cleaned, de-husked, and graded to achieve fair to average quality. This process enables farmers to access their desired products at affordable prices, thereby enhancing their economic viability and promoting better living standards within the farming community.

Sesaco Uganda

Private Equity Round in 2018
Sesaco Limited is an agro-processing company, processing and manufacturing soy-based products. The Promoter mooted the idea in 1978, started trading at small-scale household levels, and consequently registered Sesaco in 1987. The business is located at Kyengera Trading Center, 9 kilometers from Kampala city center, a prime location providing accessibility to suppliers and markets. Sesaco’s flagship products are soy cups (a decaffeinated instant beverage), soy millet flour and soy maize flour.

Meru Greens Horticulture

Private Equity Round in 2014
Meru Greens Horticulture Ltd. is a Kenyan company engaged in the production and marketing of a diverse range of fruits and vegetables, both locally and internationally. Established in 1996 and headquartered in Meru, the company offers an extensive selection of fruits, including pawpaw, oranges, watermelons, yellow passion fruits, various types of tomatoes, lemons, avocados, mangoes, and sweet bananas. Its vegetable offerings encompass fine beans, sugar snaps, snow peas, baby corn, French beans, red and yellow peppers, sweet potatoes, pumpkins, and a variety of onions and root vegetables. By focusing on quality and sustainability, Meru Greens aims to meet the growing demand for fresh produce in both domestic and global markets.

Eldoville Dairies

Private Equity Round in 2014
Eldoville Dairies is a family-owned enterprise located 15 kilometers from Nairobi's city center, specializing in the production of a variety of dairy products, as well as fruits and vegetables. Established in June 1985, the farm operates a zero grazing unit that houses a substantial herd of cows, alongside areas dedicated to growing fodder and household vegetables. Initially producing just two liters of cream daily for a local hotel, the company has since expanded its operations to include a wide range of products such as cheeses, yogurts, cream, butter, and processed fruits and vegetables. Eldoville Dairies is committed to promoting fresh produce consumption and supporting healthy lifestyles among its customers.

KK Foods

Private Equity Round in 2014
KK Fresh Produce Exporters Limited is a Ugandan based company whose primary business is the export of locally produced fresh vegetables and fruits to the European market. Its main exports produce are fresh chillies, hot pepper, ground nuts, bananas, okra, egg plants and which it freights to its wholesale clients in Europe. The business sources its fresh fruits and vegetables from smallholder farmers in central and western Uganda.

Biyinzika Poultry International

Private Equity Round in 2013
Established in 1991, Biyinzika Poultry International is a leading Ugandan company specializing in the sale of day-old chickens and supporting services. It operates hatcheries and a feed mill, producing poultry feeds and other livestock feeds at competitive prices.

Freshco Seeds

Debt Financing in 2013
Freshco Seeds, founded in 2000, is a prominent producer and distributor of high-quality seeds and planting materials in Kenya and the East and Central Africa region. Headquartered in Nairobi, the company focuses on supplying a variety of seeds, including maize, vegetable seeds, drought-tolerant crops, and tree seeds, catering primarily to small-scale farmers. Freshco Seeds collaborates with reputable organizations such as the Kenya Agricultural Research Institute and the International Centre for Maize and Wheat Improvement to source its germplasm, ensuring the quality and reliability of its products. The company also operates a seedling nursery, further enhancing its capacity to meet the agricultural needs of the farming community. As a member of the Seed Trade Association of Kenya, Freshco Seeds is committed to supporting local agriculture and contributing to food security in the region.

FAIM.CO

Convertible Note in 2013
FAIM.CO is an organization focused on establishing a state-of-the-art plant propagation nursery and tissue laboratory in Rwanda, aimed at enhancing agricultural productivity and food security across Africa. The company specializes in producing clean, disease-free plants through advanced tissue culture techniques, responding to significant demand from government agencies, food processors, and farmers for more productive seeds and plants. By providing access to healthy, virus-free plants, FAIM.CO supports the transition of farming communities from subsistence agriculture to market-oriented practices. In doing so, it contributes to reducing poverty and promoting sustainable farming methods that also help mitigate soil erosion.

Midlands Limited

Private Equity Round in 2013
Midlands Limited is a food processing firm. The company deals in the processing and packaging of potato products including potato crisps and chips.

Dengo Commercial Lda.

Venture Round in 2012
Dengo Commercial Lda is a seed business located in Chimoio, in the Manica province of Mozambique, near the border with Zimbabwe. With a nascent seed sector and a growing population amidst changing climate patterns in Mozambique and the region in general, Dengo is poised to become one of the leading private seed companies in Mozambique to spin the growth of the sector and contribute to the improvement in the incomes of rural smallholder farmers and general food security.

Alemayehu Makonnen Farm

Private Equity Round in 2012
Alemayehu Makonnen Farm is dedicated to the production and marketing of grain seed, with a primary focus on hybrid and open-pollinated varieties of seed maize. In addition to maize, the farm also produces other non-grain crops, including wheat and teff. The farm aims to support local farmers and the broader Ethiopian agricultural community by providing high-quality seeds that enhance crop yields and contribute to food security in the region. Through its commitment to quality and innovation, Alemayehu Makonnen Farm plays a vital role in improving agricultural productivity for both local farmers and the economy as a whole.

Highland Seed Growers

Private Equity Round in 2012
Highland Seed Growers Limited is a Tanzanian company specializing in the production, processing, and distribution of seeds for various crops, including hybrid and open-pollinated maize varieties. Established in 2000 and headquartered in Mbeya, with a branch office in Arusha, the company serves farmers through a network of stockists and collaborates with both private and public agricultural institutions. In addition to its seed distribution activities, Highland Seed Growers is committed to research and development efforts, partnering with public agricultural research institutes to enhance the availability and transfer of innovative agricultural technologies to rural farming communities.

Northern Uganda Agricultural Centre (NUAC)

Private Equity Round in 2012
NUAC is a large scale farm located in Nwoya District, Northern Uganda producing cereals for sale as seed and food grain in Uganda and the region. NUAC is pioneering mechanized production of soya, rice and maize in Northern Uganda and is currently farming just over 300 hectares of land. Our investment will provide NUAC with medium-term capital to increase its area under cultivation to over 1,000 hectares and scale up production of crops for both seed and commercial consumption.

Northern Uganda Agricultural Centre (NUAC)

Debt Financing in 2012
NUAC is a large scale farm located in Nwoya District, Northern Uganda producing cereals for sale as seed and food grain in Uganda and the region. NUAC is pioneering mechanized production of soya, rice and maize in Northern Uganda and is currently farming just over 300 hectares of land. Our investment will provide NUAC with medium-term capital to increase its area under cultivation to over 1,000 hectares and scale up production of crops for both seed and commercial consumption.

Wilmar Flowers

Debt Financing in 2012
Founded in 1995, Wilmar Flowers is based in Thika, Kenya. It specializes in exporting summer flowers such as ornithogalum thyroides, ornithogalum saundersiae, and craspedia globosa, among others. The company works with small and medium-sized farmers to produce these flowers.

Funwe Farm Limited

Private Equity Round in 2011
Funwe Farm Limited produces, promotes, and distributes hybrid and Open Pollinated Varieties (OPV) maize and legume seeds. Funwe Farm Limited owns two farms, Funwe and Mitongwe. The company also buys seeds from out growers. Funwe Farm Limited sells its products through the Agricultural Inputs Subsidy Scheme to smallholders in Malawi. Funwe Farm Limited was founded in 2001 and is based in Blantyre, Malawi.

Dryland Seed

Private Equity Round in 2011
Dryland Seed is a Kenya-based agricultural seed company focused on drought-tolerant crops for dryland conditions. Founded in 2004 and based in Machakos, it produces and sells seeds including maize, beans, cowpeas, pigeon peas, sorghum, and green grams. The company specializes in production, processing, and dissemination of drought-adapted seed varieties and distributes through agro-dealers to farmers in arid and semi-arid lands across Africa, aiming to provide quality seed and reliable service to farmers and enable cultivation in low-irrigation environments.

Western Seed Company

Venture Round in 2010
Established in Kenya since 1986, Western Seed Company specializes in developing and distributing high-quality seed varieties. Its primary focus is on maize hybrids resistant to diseases like streak virus and grey leaf spot, as well as drought-tolerant varieties. The company also offers open-pollinated maize varieties, sorghum, millets, beans, and peas.

Seed-Tech

Private Equity Round in 2010
Seed-tech is a Malawian business founded in 2009. It buys in and processes hybrid maize and legume seed for sale through the Agricultural Inputs Subsidy Scheme. In 2013, the business expects to process and market 500 MT of seed. The business contracts commercial and smallholder outgrowers to produce its seed, thereby increasing income in the local community.

Farm Inputs Care Centre Uganda (FICA)

Private Equity Round in 2010
FICA Uganda is one of the largest seed businesses in Uganda. Founded in 2001, after the Ugandan seed industry was liberalized, it was the pioneer of privately-owned seed companies in Uganda. With three substantial farms and a large processing facility located in Masindi, FICA has the potential to produce 10,000 MT of seed per annum. FICA also works with more than 500 outgrowers to produce seed.

Western Seed Company

Private Equity Round in 2007
Established in Kenya since 1986, Western Seed Company specializes in developing and distributing high-quality seed varieties. Its primary focus is on maize hybrids resistant to diseases like streak virus and grey leaf spot, as well as drought-tolerant varieties. The company also offers open-pollinated maize varieties, sorghum, millets, beans, and peas.
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