EXEO Capital, the partnership between South African private equity firm Agri-Vie and STANLIB, the pan-Africa asset management firm, held the final close for the second Agri-Vie fund last week, landing $146 million in commitments and almost doubling the size of its original goal.
The new fund’s LPs are a mix of development finance institutions and private sector institutions, an improvement on Fund I which saw DFIs providing the bulk of the capital. Insurance companies and foundations provided more than 35% of the capital raised for the latest fund. Of Fund I’s four investors, three re-upped for the second fund.
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