Key Takeaways
- Phatisa Food Fund 3 reached a US$86 million first close backed by leading DFIs and impact investors.
- The Fund signed its first investment to acquire Zaad Group, an agri-inputs platform operating across Africa.
- The Zaad transaction includes a capital injection to support acquisition of a majority stake in East Africa Seeds Group.
- Food Fund 3 targets scalable food value chain businesses combining commercial returns with measurable impact.
- The Fund has a hard cap target of US$300 million and plans rolling closes over the next 12 months.
Phatisa Food Fund 3 Achieves First Close at US$86 Million
Phatisa Food Fund 3 (PFF 3) has reached a US$86 million first close, with commitments from British International Investment (BII), FinDev Canada, Norfund, Swedfund, the IFC and Phatisa.
The first close marks a milestone for the pan-African fund, which focuses on investments across the food value chain. PFF 3 targets agri-inputs such as seeds, crop protection, fertiliser and agri-tech, as well as downstream activities including processing, storage, logistics and food distribution. The Fund will not invest in primary agriculture.
The Fund is targeting rolling closes over the next 12 months and has a hard cap of US$300 million.
