Kuramo Capital Management (“Kuramo”) has announced the closing of several mandates totalling approximately $500 million equivalent in primarily local funding from African pension funds and African development finance institutions (DFIs).
Investment Platform Expands African Capital Mobilisation
The mandates include the Investment in Digital and Creative Enterprises (iDICE) with the Bank of Industry, MEMA, the East African pensions vehicle, and Kuramo Africa Opportunity Fund IV Nigeria (KAOF IV) with support from Nigerian pension funds.
Kuramo said its Investment Platform consolidates commitments from African pension funds and extends its existing mandates, including the management of the Wholesale Investment Impact Fund (WIIF) and Moremi Capital Management, the firm’s gender-lens initiative platform. Through the Moremi Accelerator, Kuramo has identified 45 first-time women-led fund managers and helped mobilise more than $100 million in capital for women-led businesses.
A New Phase in Kuramo’s Evolution
The firm said the announcement of its Investment Platform, together with the strategic transition of the majority of its legacy assets, marks the next phase of its evolution. Kuramo said the move will allow it to focus its human and financial resources on advancing its mission of bringing “African capital to African opportunities.”
Track Record Across Africa
Since its founding in 2010, Kuramo says it has catalysed more than $3.5 billion to African private equity firms and businesses, supported more than 20 fund managers, anchored more than 15 funds, and invested directly and indirectly in over 200 companies. The firm also says its investments have supported more than 500,000 jobs and contributed a measurable impact to over 3 million lives.
Walé Adeosun, CFA, Founder and CEO of Kuramo Capital Management, said the firm is grateful for the support it has received over the past 15 years from Western endowments and foundation investors, noting that their backing helped transform the African private equity landscape.
“Kuramo is very excited about its Investment Platform, and progress in mobilising African capital as it helps drive faster economic growth toward the sustainable development of Africa,” Adeosun said.
Shaka Kariuki, Co-CEO of Kuramo Capital Management, said the firm looks forward to supporting local pension funds with their alternative investment portfolios.
“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,” Kariuki said.
