Equator Capital Partners raises $62 million for African microfinance



The U.S.-based fund manager reached a first close towards its $150 million goal for its third ShoreCap fund.

The fund is backed by development finance institutions, including U.K.-based CDC and the African Development Bank. Over the next 10 years, it will invest in 15 companies offering microcredit and insurance, housing finance, and small business banking.

Equator’s first two funds raised $108 million and invested in 25 institutions.

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