Injaro Investments announced the launch for its latest fund last week, raising half of the fund’s targeted final close capital from a group of LPs primarily made up of Ghanaian private pension funds. The Injaro Ghana Venture Capital Fund (or IGVCF), which is aiming to raise GHS150 million (or approximately $20 million) by its final close, is expected to hold its first close during the second quarter of this year.
It’s the first time that the majority of the committed capital to a Ghana-based fund has been raised from domestic institutions. Regulatory changes encouraging local pension funds to broaden their asset allocation strategies to include private markets investments and fund-structuring initiatives such as denominating the fund in Ghana’s currency to minimize foreign exchange risk seem to have all paid a part in increasing the fund’s appeal to Ghana’s domestic pension fund industry.
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