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Sahel Capital reached the first close of its successor growth equity fund, Sahel Capital Agribusiness Fund II (SCAF II), with $29 million in commitments.
The first close was anchored by KfW Development Bank, alongside a US-based family office. SCAF II is targeting a final close of $75 million over the next 12 months.
SCAF II is a successor fund to the Fund for Agricultural Finance in Nigeria (FAFIN) and is structured as a blended finance vehicle, including a first loss tranche, alongside dual fund domiciliation in Mauritius and Nigeria. The fund will deploy growth equity across the agribusiness value chain in West Africa, with a primary focus on Nigeria, Ghana, Côte d’Ivoire, and Senegal, targeting businesses that strengthen food security, improve climate resilience, enable import substitution, and enhance value-chain efficiency.
“The first close of SCAF II … demonstrates strong investor confidence in our strategy and our ability to originate and execute high-quality transactions,” said Mezuo Nwuneli, managing partner of Sahel Capital. “Our pipeline is robust, our investment themes are increasingly urgent, and we remain focused on building resilient, profitable agribusinesses that address food security and climate challenges across West Africa.”
“Our partnership with Sahel Capital reflects a shared commitment to strengthening food security through robust domestic supply chains that link agribusinesses with smallholder farmers,” said Oliver Van Bergeijk, head of division, equity and funds – sub-Saharan Africa and Latin America at KfW. “We have partnered with Sahel Capital across multiple funds over the past decade and value their strong execution capabilities and impact-driven investment approach.”
* Read How we made it in Africa’s earlier interview with Sahel Capital’s Mezuo Nwuneli: Agribusiness trends and opportunities in Nigeria
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