africa | January 31, 2017

Pearl Capital closes round for Uganda agriculture fund

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The new Yield Uganda Investment Fund attracted €12 million ($12.9 million) to boost small- and medium-sized agricultural suppliers, producers, processors and transporters.

Pearl Capital Partners, which also manages the $25 million African Agricultural Capital Fund launched in 2012 by JP Morgan and the Gates and Rockefeller foundations, hopes to double the new fund to €25 million ($26.7 million).

The European Union put in €10 million ($10.7 million) to absorb the fund’s first losses. Uganda’s National Social Security Fund, a private sector pension fund, invested €2 million ($2.1 million).