EG Capital, a growth-oriented private equity impact firm, today announced the anchor closing of its first EG-Economic Empowerment Fund LP (EG-EEF), which will invest in medium-sized businesses in the Food, Health, Education and Climate Resilience sectors in East Africa and Zambia.
Alongside its IC members and smaller angel investors, the management team at EG Capital have committed US$2 Million to the Fund as part of the anchor close to demonstrate the fund manager’s confidence in the fund’s strategy.
The EG-EEF Fund is targeting US$100 Million in commitments, which includes a substantial pool of capital from institutional investors (family offices, pension funds, banks, sovereign wealth funds) as well as local African institutional investors.
EG Capital’s management team made the announcement on 14th December 2022, during the U.S. Africa Business Forum in Washington D.C., where the EG-EEF Fund is also one of the investments selected for the Deal room by Prosper Africa. EG Capital is also one of 7 fund managers selected for the 2X Ignite GP Sprint – First Africa Cohort, part of the 2x Collaborative program to facilitate capital allocation to emerging diverse fund managers.
Sandrine Henton, Managing Director at EG Capital said, “We seek to partner with best-in-class sponsors to create solutions for their highest quality assets in Food, Health, Education and Climate Resilience in East Africa and Zambia. We’re excited to build on our partnership with existing and new investors to realize attractive returns and measurable impact in high growth, defensive sectors. We believe there is additional value that can be unlocked by investing at the nexus of gender and positive climate action, particularly for women and young people.”
Prosper Africa:
Prosper Africa celebrates this important milestone for EG Capital. “This success will allow EG Capital, a women-led fund manager, to mobilize funds into impactful sectors such as health, food, education, and climate resilience while creating employment opportunities for women and youth populations. We are excited to continue promoting EG Capital’s fundraise to US investors via the Prosper Africa Virtual Deal Room and build on their existing US LP base.”
https://www.prosperafrica.gov/
2x Collaborative:
“We’re excited to work with EG Capital as part of the GP Sprint – First Africa Cohort at 2x Ignite, and via technical assistance continue to support their journey as an emerging fund manager creating impact for women, and young people”.
IQ-EQ:
“The initial anchor closing of its first fund is an important milestone for EG Capital”, said Justin Partington, Group Head of Fund and Asset Managers at IQ-EQ. “We are extremely proud of the success that the team at EG Capital has achieved thus far in our partnership together as part of the IQ-EQ Launchpad, a unique initiative which aims to support women launching their first fund.’’ https://iqeq.com/iq-eq-launchpad
