Fanisi Venture Capital Fund

  • Region: Africa
  • Country: Regional
  • Sector: Investment funds
  • Year: 2009
  • Domicile: Luxembourg
  • Instrument: Fund
  • Commitment (MNOK) as of 31.3.2017: 97.0
  • Original Commitment (MNOK): 101.6

Fanisi means “prosperity” in Swahili, and is the name of the first venture capital fund in East Africa. The fund aims for investments in Kenya, Rwanda, Tanzania and Uganda. Norfund initiated the fund and started the work to establish it in 2007. A supply of risk capital for new enterprises is crucial to achieving growth in the private sector. With the aid of risk capital, Fanisi establishes partnerships with and invests in early-phase enterprises and SMEs with a large growth potential. In addition to owning 50 per cent of the management company, Norfund is Fanisi’s principal investor.

Shortage of capital
Early-stage enterprises are rarely on the customer list of traditional financial institutions and have difficulty in procuring long-term financing. There is often competition to finance the big, established companies, whereas the financing of new ideas, business models and services is regarded as too risky. Norfund’s work with Fanisi arises from a desire to strengthen the ability of local capital markets to take risk and to secure financing for a market segment that has long been ignored.

 

 

Indirect investments

Investee Sector Country
Elris Communications Service Ltd Communication Kenya
European Foods Limited Wholesale and retail Kenya
Haltons Limited Wholesale and retail Kenya
Hillcrest International Schools Education Kenya
Kijenge Animal Products Limited Food and agribusiness Tanzania
Live Ad Limited Other services Kenya
Ngare Narok Food and agribusiness Kenya
Paystream Ltd Financial services Kenya
ProDev Group Holding Limited Food and agribusiness Rwanda
Sophar Health Rwanda
Craft Silicon (Sub company for fund) Communication Kenya

Norfund - The Norwegian Investment Fund for Developing Countries

Fridtjof Nansens Plass 4
N-0160 Oslo