Africa: Investors create $25m fund for African agriculture

A bunch of the world’s leading impact investors have joined forces with the US Agency for International Development (USAID) to invest $25m in a new growth fund to support African agriculture. Over the next five years, Pearl Capital Partners (PCP), a specialised African agricultural investment fund manager based in Kampala, Uganda, will invest the AACF’s $25 million in at least 20 agriculture-related businesses in East Africa. The fund is supported by $17 million in equity investment from the Bill & Melinda Gates Foundation, the Gatsby Charitable Foundation, and the Rockefeller Foundation.