Pearl Capital Partners

Pearl Capital Partners is a venture capital firm based in Kampala, Uganda, with additional offices in Nairobi, Kenya, and Mauritius. Established in 2005, the firm specializes in investing in small and medium-sized agribusinesses in East Africa, particularly focusing on Uganda. Pearl Capital Partners typically invests between $0.25 million and $2.5 million per company, utilizing a mix of equity, quasi-equity, equity-related, and debt investments. The firm aims to generate financial returns while fostering significant social impact by collaborating with ambitious management teams and employing supportive investment structures and specialized expertise to cultivate high-growth agribusinesses.

David Wangolo

Investment Director

Past deals in COMESA

Newman Foods

Private Equity Round in 2022
Newman Foods is an agro-processing company based in Kampala that specializes in the manufacture and export of a wide range of fresh agricultural products. The company focuses on producing and marketing branded consumer foods for both local and regional retail markets. Additionally, Newman Foods is engaged in the aggregation and export of fresh fruits and vegetables to the European market. Committed to promoting modern commercial farming, the company advises and encourages local production while advocating for sustainable agricultural practices. Newman Foods also offers packaged food products and processed chili sauces, providing a diverse array of quality snacks to its customers.

Enimiro

Private Equity Round in 2022
Enimiro is an online farming platform based in Kampala, Uganda, designed to connect smallholder farmers with local investors. By utilizing a mobile app, Enimiro enables urban individuals to invest in agriculture, facilitating increased harvests and providing a straightforward way to earn returns on their investments. The company focuses on integrated farming techniques and supply chain transparency, aiming to enhance opportunities for farmers while ensuring that customers receive maximum value. Through its innovative approach, Enimiro seeks to bridge the gap between urban investors and rural agriculture, contributing to the growth of the agricultural sector in Uganda.

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

Private Equity Round in 2021
Sekajja Agro Farms Limited is a poultry farming company based in Kampala, Uganda. The primary focus of the business is the rearing of day-old chicks (DOCs) until they reach maturity, after which the mature birds are distributed as live poultry and processed into dressed chicken for both informal and formal markets. In addition to poultry rearing, Sekajja Agro Farms operates a feed mill to produce animal feed, an abattoir for processing chickens, and a cold chain to ensure proper storage and distribution. The company also has branded retail outlets to facilitate the sale of its products.

Sekajja Agro Farms

Debt Financing in 2021
Sekajja Agro Farms Limited is a poultry farming company based in Kampala, Uganda. The primary focus of the business is the rearing of day-old chicks (DOCs) until they reach maturity, after which the mature birds are distributed as live poultry and processed into dressed chicken for both informal and formal markets. In addition to poultry rearing, Sekajja Agro Farms operates a feed mill to produce animal feed, an abattoir for processing chickens, and a cold chain to ensure proper storage and distribution. The company also has branded retail outlets to facilitate the sale of its products.

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.

Raintree Farms

Private Equity Round in 2019
Raintree Farms, Ltd. is an agricultural company based in Masindi, Uganda, specializing in the cultivation and processing of Moringa oleifera crops. Founded in 2015, the company produces Moringa oleifera powder, which serves various markets, including nutrition, beauty, and health, offering premium, organically certified products. In addition to its core operations, Raintree Farms provides programs aimed at supporting farmers, such as the Secured Income Program and the Moringa Cultivation Boot Camp. These initiatives are designed to help farmers optimize their land use and secure a stable income through the commercialization of Moringa cultivation.

Chemiphar

Private Equity Round in 2019
Chemiphar Ltd. is an accredited analytical laboratory and inspection company based in Kampala, Uganda, founded in 1998. The company specializes in providing laboratory research and testing services to ensure food safety and quality, catering primarily to agribusinesses. Its offerings include inspection and testing services for food and beverages, pharmaceuticals, cosmetics, and seeds, helping clients meet international standards for both export and local certification of processed and value-added products. By delivering reliable laboratory testing, Chemiphar plays a crucial role in maintaining safety and quality from farm to consumer.

Central Coffee Farmers Association

Private Equity Round in 2018
Central Coffee Farmers Association is a farmer-owned organization based in Central Uganda, dedicated to supporting local coffee farmers. The association aims to establish a sustainable system for poverty alleviation through market-based agricultural practices. It collects dried coffee beans from farmers, which are then cleaned, de-husked, and graded into fair to average quality coffee. This process ensures that farmers have access to their desired product at an affordable price, promoting economic stability and improving the livelihoods of the farming community.

Meru Greens Horticulture

Private Equity Round in 2014
Meru Greens Horticulture Ltd. is a prominent producer and marketer of a wide variety of fruits and vegetables in Kenya and on the international stage. Established in 1996 and headquartered in Meru, Kenya, the company offers an extensive selection of fruits, including pawpaw, oranges, watermelons, yellow passion fruits, tomatoes, tree tomatoes, lemons, avocados, mangoes, apple mangoes, sweet and regular bananas. Its vegetable range encompasses fine beans, sugar snaps, snow peas, baby corn, French beans, both red and yellow peppers, sweet potatoes, pumpkins, red and white onions, green pepper, cassava, butternuts, and arrow roots, among other products. Through its diverse offerings, Meru Greens contributes significantly to the agricultural sector and food supply both locally and abroad.

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
Biyinzika Poultry International Limited is a leading poultry company in Uganda, primarily engaged in the sale of day-old chicks. Established in 1991, the company operates hatcheries and processing facilities that produce poultry feeds, as well as other livestock feeds for dairy and pigs. With a market share exceeding 50% in the day-old chick sector, Biyinzika has positioned itself as a key player in the industry. The company has also benefited from financial support, including loans from Pearl Capital Partners, which significantly contributed to its growth. Biyinzika's operations are designed to provide cost-effective solutions for customers and poultry farmers, ensuring access to quality livestock feeds.

Freshco Seeds

Debt Financing in 2013
Freshco, founded in 2000 and based in Nairobi, specializes in the production, processing, and distribution of high-quality seeds and planting materials aimed at the farming community in Kenya and the East and Central Africa region. The company offers a diverse range of products, including maize seeds, vegetable seeds, drought-tolerant crop seeds, and tree seeds. Freshco sources its germplasm from respected institutions such as the Kenya Agricultural Research Institute, the International Centre for Maize and Wheat Improvement, and other organizations under Material Transfer Agreements. Additionally, the company procures vegetable seeds from established global breeders and suppliers. Freshco also operates a seedling nursery, providing essential resources to small-scale farmers across the region.

Alemayehu Makonnen Farm

Private Equity Round in 2012
Alemayehu Makonnen Farm is engaged in the production and marketing of grain seeds, with a particular focus on maize, offering both hybrid and open-pollinated varieties. In addition to seed maize, the farm also cultivates other non-grain crops, including wheat and teff. By providing high-quality seed options, the farm aims to enhance agricultural productivity for local farmers in Ethiopia, allowing them to achieve greater yields and improve their livelihoods.

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
Wilmar Flowers Limited, established in 1995 and based in Thika, Kenya, specializes in the export of summer flowers cultivated by small and medium-sized farmers. The company engages over 4,000 farmers, organizing them into groups to enhance production efficiency. Wilmar Flowers offers a diverse range of floral products, including ornithogalum thyroides, ornithogalum saundersiae, mobydick asclepias, craspedia globosa, cyperus papyrus, ammi visnaga in both white and green varieties, eryngium planum, rudbeckia, polianthes tuberose, and scabiosa stellata. Focused on serving markets in Europe and the United States, Wilmar aims to provide fresh flowers at competitive prices while supporting local agricultural communities.

Dryland Seed

Private Equity Round in 2011
Dryland Seed Limited, founded in 2004 and based in Machakos, Kenya, specializes in the production and sale of drought-tolerant crop seeds suitable for dryland conditions. The company offers a range of seeds, including maize, beans, cowpeas, pigeon peas, sorghum, and green grams. By focusing on genetically modified varieties, Dryland Seed aims to enhance agricultural output in low and medium altitude arid and semi-arid land (ASAL) areas of Africa. The seeds are processed and distributed through a network of agro-dealers, ensuring that farmers in drought-prone regions have access to quality seeds that require minimal irrigation. Dryland Seed is dedicated to supporting cultivators by providing suitable seed varieties and reliable service.

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.

Western Seed Company

Venture Round in 2010
Western Seed Company Limited is a seed producer based in Kitale, Kenya, specializing in the development and distribution of high-quality seed varieties. Established in 1986, the company focuses on addressing agricultural challenges faced by smallholder farmers, particularly in enhancing maize productivity. It offers a range of products, including hybrid maize seeds, open-pollinated maize varieties, sorghum, millets, beans, and peas, all designed to resist common agricultural threats such as maize streak virus and drought. In recent years, Western Seed has made significant strides in reaching a large number of farmers, with the goal of impacting over 800,000 households by 2014. The company aims to improve crop yields and farmers' incomes through its innovative seed technologies and comprehensive research and breeding programs.

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
Western Seed Company Limited is a seed producer based in Kitale, Kenya, specializing in the development and distribution of high-quality seed varieties. Established in 1986, the company focuses on addressing agricultural challenges faced by smallholder farmers, particularly in enhancing maize productivity. It offers a range of products, including hybrid maize seeds, open-pollinated maize varieties, sorghum, millets, beans, and peas, all designed to resist common agricultural threats such as maize streak virus and drought. In recent years, Western Seed has made significant strides in reaching a large number of farmers, with the goal of impacting over 800,000 households by 2014. The company aims to improve crop yields and farmers' incomes through its innovative seed technologies and comprehensive research and breeding programs.
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