Accra, Ghana - May 14th 2018 - Oasis Capital Ghana, a West African private equity fund manager, announces the final closing of its second fund, the Oasis Africa VC Fund (“Fund II”), at US$50.5mn at 31st December 2017. The fund will invest in Small and Medium Enterprises (SMEs) in Ghana and Cote d’Ivoire providing essential services in the education, financial services, housing, healthcare, food services and hospitality sectors. Investments are expected to be debt and equity depending on the industry and the country. Transaction sizes will vary between US$0.5mn and US$5mn with an average of US$3mn.
Fund II, which was oversubscribed, received strong support from the development finance community, including DGGF, IFC, EIB, Norfund and PROPARCO. Other investors include local pension funds, family offices and pan African corporate institutions.
Matthew Boadu-Adjei, Founder and CEO of Oasis Capital, said “The investment conditions for essential services in Ghana and Cote D’Ivoire remain favorable over the medium to long term. The success of this fund-raising highlights the strong interest investors have in the stable cash flows and the positive social impact our investments provide. The team has already made two investments and we expect to ramp up investment activity this year. We are grateful for faith showed in us by our investors and look forward to investing on their behalf”
Oasis closed its first fund, the Ebankese Venture Fund, on US$13.20mn in March 2012 after attracting capital from local finance institutions and Fund of Fund investors. The first fund invested in eight companies across Ghana, most notable include Rising Sun Montessori, Axis Pensions and GHS Housing limited.
Bensti Enchill Letsa & Ankomah provided legal advice and Trident is acting as the fund administrator.
ABOUT OASIS CAPITAL GHANA
Oasis Capital Ghana Limited was established in February 2009 as a growth and venture capital fund manager and currently has offices in Ghana and Cote D’Ivoire. We seek to provide risk capital in the form of equity, quasi-equity and profit sharing facilities to entrepreneurial businesses in Africa.
Matthew Boadu – Adjei (Tel: +233 302522624 Email; email@example.com)
Joseph Boakye Yiadom (Tel: +233 302522624 Email: firstname.lastname@example.org)
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