Kuramo Capital Management has announced the closing of several mandates representing approximately $500 million equivalent of primarily local funding from African pension funds and African development finance institutions.
These mandates include the Investment in Digital and Creative Enterprises programme with the Bank of Industry, MEMA, the East African pensions vehicle, and Kuramo Africa Opportunity Fund IV Nigeria with support from Nigerian pension funds.
Kuramo’s investment platform consolidates commitments from African pension funds and extends the firm’s existing mandates, which include the management of the Wholesale Investment Impact Fund and Moremi Capital Management, Kuramo’s gender-lens initiative platform.
The Moremi Accelerator has identified 45 first-time women-led fund managers and has already helped to mobilise over $100 million in capital to women-led businesses.
The announcement of the investment platform, alongside the strategic transition of the majority of Kuramo’s legacy assets, marks the next phase of the firm’s evolution. Kuramo said this will allow it to fully focus its human and financial resources as it looks to bring African capital to African opportunities.
Since its founding in 2010, Kuramo has catalysed over $3.5 billion to African private equity firms and businesses, supported more than 20 fund managers, anchored more than 15 funds, invested across more than 200 companies directly and indirectly, supported over 500,000 jobs, and contributed measurable impact to over 3 million lives.
Walé Adeosun, CFA, Founder and CEO of Kuramo Capital Management, commented, "Kuramo is appreciative of the support provided over the last 15 years by our western endowments and foundation investors as their support enabled the transformation of the African private equity landscape. Kuramo is very excited about its Investment Platform, and progress in mobilizing African capital as it helps drive faster economic growth toward the sustainable development of Africa."
Shaka Kariuki, Co-CEO of Kuramo Capital Management, commented, "We believe that our experience, track record, and local networks, will strengthen our effort toward mutually beneficial outcomes with our local strategic partners and promote impactful investments in the region."