EXEO raises $100 million to fill Africa food investment gap

Rapid urbanization, buy-local  opportunities and increased precision on African farms are creating private-equity investment opportunities.

The Pan-African firm EXEO Capital raised more than $100 million in the first close of Agri-Vie Fund II. The new fund continues the same investment thesis as EXEO’s first fund, which has committed $100 million to a dozen food processing and ag ventures in East and Southern Africa.

Institutional investments from Africa, Europe and North America, led by Norway’s development agency, Norfund, show swelling investor interest in Africa’s private equity markets, particularly for mid-size and growth stage companies.

Photo credit: Simphiwe Mbokazi

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