Key Takeaways
- AgDevCo made a $15 million follow-on investment in Victory Group, an East African aquaculture company that farms Nile tilapia on Lake Victoria in Kenya and Lake Kivu in Rwanda.
- Victory Group expects to produce 30,000 tons of fish in 2026 and sells fresh fish to thousands of mama samakis through more than one hundred sales outlets.
- The mezzanine loan will support Victory Group's expansion to multiple new farming sites in Kenya and Rwanda to meet rising regional demand.
- This follows AgDevCo's initial $4 million investment in Victory Group in 2021, demonstrating continued confidence in the company's growth potential.
- AgDevCo manages $340 million in assets under management and has completed more than 88 investments in African agriculture, including 51 exits.
AgDevCo Supports East African Aquaculture Expansion
AgDevCo, the specialist agriculture investor, has announced a $15 million follow-on investment in Victory Group, an East African aquaculture company focused on Nile tilapia production and distribution. The investment will support Victory Group's next phase of expansion across Kenya and Rwanda.
Victory Group operates tilapia farms on Lake Victoria in Kenya and Lake Kivu in Rwanda, distributing fresh fish to thousands of mama samakis (female market traders) through more than one hundred sales outlets. The company is projected to produce 30,000 tons of fish in 2026, helping increase access to affordable and sustainable protein throughout the region.
Victory Group Leadership on Growth Strategy
The mezzanine loan from AgDevCo will enable Victory Group to establish multiple new farming sites in both Kenya and Rwanda, responding to increasing regional demand while improving supply reliability for market traders.
