Agri-Vie Eyes US$100 Million Close for New Fund (Africa)

Sub-Saharan Africa-focused private equity fund Agri-Vie is expected to reach its US$100 million target for investment in agricultural projects by March 2010. The fund recently invested US$6.7 million in New Forests Company, a forestry and timber products group with operations in Uganda, Tanzania, Rwanda and Mozambique, and US$3.5 million in africaJUICE, a company establishing fruit production and processing operations in East Africa. The fund, which is headquartered in South Africa, is being jointly managed by Sanlam Private Equity and SP Aktif. Click here to read the full Reuters article.

Martin Poulsen
Chief Private Equity Officer
African Development Bank