New Delhi, July 8 -- Kuramo Capital Management, an independent private investment management firm focussed on sub-Saharan Africa, has raised $500 million (around Rs 4,757 crore) of capital from its limited partners in Africa across several mandates.
The multi-asset class platform, which manages a combination of funds-of-funds alongside direct corporate co-investments and private placements, primarily secured the capital from African pension funds and African development financial institutions for these platforms.
These include Nigeria's Investment in Digital and Creative Enterprises (iDICE) programme with the Bank of Industry, the East African pension investment vehicle MEMA and Kuramo Africa Opportunity Fund IV with support from Nigerian pension funds.
The firm's investment platform consolidates its LP commitment from multiple pension funds in Africa, and extends mandates across the other vehicles it manages including Wholesale Investment Impact Fund (WiIF) and Moreni Capital Management, which is its Gender-Lens Initiative platform.
"Kuramo is appreciative of the support provided over the last 15 years by our western endowments and foundation investors as their support enabled the transformation of the African private equity landscape," said Wale Adeosun, CFA, Founder and cheif executive.
The firm, headquartered in New York, was set up in 2010. It has deployed over $3.5 billion to African private equity firms and businesses, supporting over 20 fund managers and anchoring 15-plus funds. It has backed more than 200 companies directly and indirectly.
Earlier this week, Kuramo marked the first close of Kuramo Africa Opportunity Fund IV securing the NGN 48 billion ($35 million) in commitments from five Nigerian Pension Fund Administrators. The vehicle will invest primarily in high-growth businesses across Nigeria, with selective investments in the wider Sub-Saharan African region.
Published by HT Digital Content Services with permission from VC Circle.