Closing of 1st Fund completed. US$ 34 million raised.
Inside Capital Partners, a Private Equity fund manager domiciled in Mauritius, is pleased to announce that it has held the first closing of its first fund, Inside Equity Fund at USD 34 m.
The fund is backed by a mix of regional industrial players, family offices and the DFI Triple Jump. The fund is currently proceeding with its second round of fundraising, with a target size of USD 60 m.
Inside Capital Partners is operating from one office in Zambia and one office in Mauritius, and is focused on supporting SMEs in selected Southeast Africa countries (i.e Zambia, Mauritius, Madagascar, Malawi, Mozambique and Tanzania).
The fund completed its first investment by acquiring a minority interest in Kalulushi Clay Brick, Zambian’ largest clay brick factory, (www.kcbricks.com) and is currently considering a follow-up investment in this project.