International Finance Corporation Grants Fanisi Capital Sh108 million
Fanisi Capital was granted Sh108 million by the International Finance Corporation to aid in the technical advisory services issuance and help it invest in small and medium-sized firms in Kenya.
The issuance of the advisory support from IFC will run from November 2022 under the name SME V Fanisi which will later support portfolio value and help in Fund 1 deal exit.
“For Fund II, this advisory project will provide resources to support SME access to the fund opportunity, a guide on the better deal generation and structuring, and focus on investment strategy, team capacity, and pipeline development,” part of the statement by IFC noted.
Previously, Fanisi invested in SMEs like Live AD, Haltons, and Ngare Narok Meat Industries, and is said to have about $100 million of assets which are under management.
Fanisi says that the support from IFC will boost the firm to sell some of its portfolio companies.
Fanisi Capital was founded in 2009 by the Norwegian Investment Fund for Developing Countries (Norfund) and Amani Capital Limited.
The Fund focuses on a segment of the market that has to date been outside the ambit of most venture capital funds in the East African market (Kenya, Tanzania, Rwanda, and Uganda).
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