AgDevCo lands equity and debt funding package from DFIs

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Three development finance institutions are investing a mix of debt and equity in AgDevCo, boosting the specialist Agribusiness investor’s investment activities across sub-Saharan Africa. Between them, the three DFIs – CDC Group, Norfund, and the U.S. International Development Finance Corporation (or DFC) – are providing $90 million to AgDevCo, along with supplementary funding of up to $5.4 million for the investment platform’s integrated technical assistance facility.

With $50 million of equity, CDC Group is providing the largest component of the investment. Norfund is providing another $20 million of equity, while DFC is providing another $20 million as debt. The new funding builds on the original endowment funding provided by the British government to help set up AgDevCo originally, allowing it to build its capabilities and track record over the past decade and start securing external investment capital.

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