Hayo Afman

Portfolio Director

Toine Huijbers

CFO

Ralph Jansen

Investment Manager

Saskia van der Mast

Investment Manager

Past deals in East Africa

Twiga Foods

Series C in 2021
Twiga Foods Ltd. operates a mobile-based business-to-business supply platform, serving retail outlets, kiosks, and market stalls across Africa. Founded in 2013 and headquartered in Nairobi, Kenya, the company facilitates the ordering of various supplies, including bananas, pineapples, and tomatoes, through its innovative platform. Twiga Foods aims to streamline the supply chain and enhance access to essential goods for millions of small and medium-sized vendors in urban markets throughout the continent.

Tanga Fresh Ltd.

Private Equity Round in 2020
Tanga Fresh Ltd. is a milk processing company that also produces cheese and yoghurt. The company is based in Tanga, Tanzania.

Natural Extracts Industries

Private Equity Round in 2019
Natural Extracts Industries Ltd manufactures vanilla and chocolate flavors ingredients. The company offers vanilla products, gourmet vanilla pods, and cocoa powder products, including Kilimanjaro Vanilla, Mbeya Cacao, Tanga Orange, Kibosho Coffee, and Kilombero Cinnamon under the brand EPICURIOUS HEDGEHOG. It also provides training services to farmers for vanilla crops. The company serves bakeries, dairy processors, cafes, and restaurants in East Africa, Europe, and North America. The company was founded in 2011 and is based in Moshi, Tanzania.

Powergen Renewable Energy

Series B in 2019
Powergen Renewable Energy specializes in delivering energy solutions to various sectors, including residential, community, commercial, government, and industrial customers in East Africa. Established in 2011 and headquartered in Nairobi, Kenya, the company operates additional offices in Arusha, Tanzania; Freetown, Sierra Leone; and Lagos, Nigeria. Powergen focuses on providing comprehensive renewable energy systems, including microgrids, photovoltaic solar systems, and wind energy solutions to address off-grid energy demands. Their services encompass consulting, development, engineering, procurement, construction, operation, maintenance, and financing, ensuring a one-stop solution for clients seeking to harness renewable energy resources effectively.

Jibu

Venture Round in 2019
Jibu provides a comprehensive, turn-key start-up package for local entrepreneurs to start their own neighborhood businesses by treating and packaging water in reusable bottles. 450 million East Africans do not have reliable access to safe drinking water. Jibu currently works within this emerging market in the Democratic Republic of the Congo, Rwanda and Uganda and plans to expand to surrounding countries in the coming years. Jibu provides seed-financing and support to equip East African entreprenerus with the materials needed to launch safe drinking water franchises. Jibu offers an opportuntiy for local entrepreneurs to make drinking water 75% cheaper than bottled water, at the same price as boiling water, but with the convenience of door-side delivery and the aspirational association with bottled water.

Twiga Foods

Series B in 2018
Twiga Foods Ltd. operates a mobile-based business-to-business supply platform, serving retail outlets, kiosks, and market stalls across Africa. Founded in 2013 and headquartered in Nairobi, Kenya, the company facilitates the ordering of various supplies, including bananas, pineapples, and tomatoes, through its innovative platform. Twiga Foods aims to streamline the supply chain and enhance access to essential goods for millions of small and medium-sized vendors in urban markets throughout the continent.

Sarura Commodities Ltd

Private Equity Round in 2018
Sarura is a grain trading company based in Kigali, Rwanda, that links small holder farmers with local and international off-takers, such as Africa Improved Foods and World Food Program.

Twiga Foods

Series A in 2017
Twiga Foods Ltd. operates a mobile-based business-to-business supply platform, serving retail outlets, kiosks, and market stalls across Africa. Founded in 2013 and headquartered in Nairobi, Kenya, the company facilitates the ordering of various supplies, including bananas, pineapples, and tomatoes, through its innovative platform. Twiga Foods aims to streamline the supply chain and enhance access to essential goods for millions of small and medium-sized vendors in urban markets throughout the continent.

Countryside Dairy Ltd.

Private Equity Round in 2016
Countryside Dairy Ltd, is a milk processing company established in 2014 and operates from the Kenyan equator town of Nyahururu. The firm processes pasteurized fresh milk products for the low-income market segment and institutional organisations such as hospitals, hotels and schools and does about 100,000 litres of milk on a daily basis.

Twiga Foods

Private Equity Round in 2016
Twiga Foods Ltd. operates a mobile-based business-to-business supply platform, serving retail outlets, kiosks, and market stalls across Africa. Founded in 2013 and headquartered in Nairobi, Kenya, the company facilitates the ordering of various supplies, including bananas, pineapples, and tomatoes, through its innovative platform. Twiga Foods aims to streamline the supply chain and enhance access to essential goods for millions of small and medium-sized vendors in urban markets throughout the continent.

Powergen Renewable Energy

Series A in 2016
Powergen Renewable Energy specializes in delivering energy solutions to various sectors, including residential, community, commercial, government, and industrial customers in East Africa. Established in 2011 and headquartered in Nairobi, Kenya, the company operates additional offices in Arusha, Tanzania; Freetown, Sierra Leone; and Lagos, Nigeria. Powergen focuses on providing comprehensive renewable energy systems, including microgrids, photovoltaic solar systems, and wind energy solutions to address off-grid energy demands. Their services encompass consulting, development, engineering, procurement, construction, operation, maintenance, and financing, ensuring a one-stop solution for clients seeking to harness renewable energy resources effectively.

The Joseph Initiative Ltd.

Acquisition in 2014
Joseph Initiative focuses on delivering bulk high quality agricultural produce to East African markets. It has developed and deployed an integrated supply chain for maize that stretches from village-level farm-gates across Western Uganda to high-value regional markets.

Prothem

Private Equity Round in 2012
Prothem is the first and only private tea factory in Burundi

M-KOPA

Private Equity Round in 2011
M-KOPA Kenya Limited, established in 2011 and headquartered in Nairobi, specializes in developing and marketing solar home systems designed for off-grid customers. The company offers a range of solar products, including systems equipped with lights, phone charging capabilities, and solar-powered radios. M-KOPA began commercial operations in Kenya in 2012 and has since expanded its services to Uganda and Tanzania. The company operates through a network of over 1,000 retail agents and shops, employing a team of more than 500 staff. M-KOPA is recognized for its innovative "pay-as-you-go" energy services, which leverage a proprietary technology platform that integrates mobile payments and asset financing, facilitating access to affordable energy solutions for underserved communities. The firm is also exploring opportunities to license its technology to reputable partners in markets beyond East Africa.

Tanga Fresh Ltd.

Private Equity Round in 2007
Tanga Fresh Ltd. is a milk processing company that also produces cheese and yoghurt. The company is based in Tanga, Tanzania.