Phatisa Closes On $243M For African Agriculture Fund

Law360, New York (September 18, 2013, 5:23 PM EDT) -- African private equity fund manager Phatisa has closed an Africa-focused agriculture fund with $243 million in capital commitments after securing a $50 million investment from a U.S. development agency, Phatisa announced Wednesday.

The pan-African firm closed the final equity investment from the Overseas Private Investment Corp., a U.S.-based agency that provides development finance for foreign institutions. The fund is designed to invest in Africa's long-term food security by investing in agriculture and food services businesses across the continent.

The fund began investment in January 2011 with...
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