Thursday, July 3, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Funding

Ascent, a Kenyan private equity firm, has closed a $100 million fund for East African SME investments

Tech Gist Africa by Tech Gist Africa
05/22/2021
in Funding, News - East Africa, Opportunities, Venture Capital
0 0
0
Funding Africa startup

Funding Africa startup

0
SHARES
Share on FacebookShare on Twitter

Ascent, an African private equity fund manager, has announced the first rolling close of its Ascent Rift Valley Fund II (ARVF II) at more than US$100 million from the World Bank and other top sovereign funds, including the International Finance Corp (IFC), the CDC Group (UK government), Dutch financier FMO, Proparco, French development finance institution, and other investors, which will be used towhich will be used to invest in East African small and medium-sized businesses

Ascent stated that ARVF II far exceeded its initial target of US$80 million, with the final close of ARVF II, with a target of US$120 million, expected in December 2021.

The firm’s new funding warchest will be used to acquire a majority or significant minority stake in the companies in which it invests. The CDC contributed $25 million to the fund, while Kenya’s pension fund contributed $12 million. With offices in Ethiopia, Kenya, and Uganda, Ascent Capital employs a decentralized approach.

“We are proud to have raised this additional capital from prominent investors to invest in Africa’s most promising companies,” Ascent founding partner David Owino said. “We are now well positioned to become the leading SME fund manager in East Africa, providing capital and knowledge from our local advisory teams to ambitious entrepreneurs.”

 

Read more on Tech Gist Africa:

 

GIZ Egypt has launched a USD120 million funding program for venture capital funds that are just getting started

Atlantica Ventures, a venture capital firm, has raised $50 million for African tech investments

Platform Capital celebrates the Closing of MaC Venture’s $110 Million Fund

Algebra Ventures, an Egyptian venture capital company, has launched a $90 million second fund

ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

Related Posts

Kera Senegal
Funding

KERA, a Senegalese E-Health Startup Secures $10 Million Funding

by Tech Gist Africa
06/15/2025
0

Senegalese e-health startup KERA Health Platforms has raised US$10 million in funding from the International Finance Corporation (IFC), a member...

Read more
Nile South Africa

Nile, a South African Agri-Tech Startup Secures $11.3 Million in a funding round

06/15/2025
qualcomm mentorship program

Qualcomm Selects 10 Startups for 2025 ‘Make in Africa’ Mentorship Program

06/15/2025
Salpha Energy Nigeria

Salpha Energy, a Nigerian Clean Energy Startup Secures $1.3 Million Investment

06/15/2025
Africa startups

Kenyan Startups Invited to Apply for €100,000 develoPPP Ventures Grant

06/15/2025
Next Post
internet explorer microsoft

Microsoft is discontinuing support for Internet Explorer 11

Funding Africa startup

Ugandans can now apply for $100k in EU Green Enterprise Funding

Ford F-150 Lightning

Ford has unveiled the F-150 Lightning, an all-electric pickup truck

No Result
View All Result

The Big 5

Blockchain

The Role of Blockchain in Enhancing Africa’s Financial Systems and Security

by Tech Gist Africa
06/30/2025
0

...

Artificial Intelligence

How Artificial Intelligence is Transforming Industries Across Africa

by Tech Gist Africa
06/23/2025
0

...

Africa startups

Kenyan Startups Invited to Apply for €100,000 develoPPP Ventures Grant

by Tech Gist Africa
06/15/2025
0

...

Neuralink Elon Musk

Neuralink Secures $650 Million in Series E Funding to Advance Brain Implant Technology

by Tech Gist Africa
06/15/2025
0

...

Telegram Grok

Telegram Scores $300 Million xAI Deal to Integrate Grok Across One Billion Users

by Tech Gist Africa
06/15/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.