Eos Capital says it has so far raised N$90 million for its Euphrates Agri Fund, from a target of N$1 billion.
The investments management company, which indicated desire to continue with its capital raising for the next two years after its first close, is planning to deploy capital from its debut investment in agricultural services by the end of this year.
“This will allow Euphrates to make its first investments in projects across the Namibian agriculture value chain while additional fundraising continues. One project in final stages of consideration would enable Namibian women to become small-scale farmers using sustainable methods, increasing their financial independence and Namibia’s food security, while still achieving commercial returns for investors,” Eos Capital said.
The fund is targeting to make equity and quasi-equity investments into unlisted companies in target sectors such as agro-processing, distribution and logistics, commercial agriculture, retail, biomass, and manufacturing of chemicals, fertilizers, seeds, animal products and equipment.
Euphrates is the third fund raised by Eos Capital – an investment group with more than N$1 billion in assets under management (AUM) across its three funds: Allegrow Fund, Namibian Infrastructure Development and Investment Fund (NIDIF) and Euphrates Fund.
Meanwhile, Eos Capital has announced the appointment of Agra CEO Arnold Klein, Debmarine Namibia CEO Otto Shikongo, Joubert Smit and Ryno van der Merwe to the Euphrates Fund board of directors and members of its investment committee.
