Exeo Capital closes its second fund, focused on agribusiness

South African private equity firm Exeo Capital has closed its second fund, Agri-Vie II, after the one completed in 2017,
Agri-Vie I.

In a press release issued on June 20, the company said it had raised $146 million for this new investment vehicle, which will focus on agribusiness. This is half as much as the $100 million she had raised two years earlier for her first fund. For this second closing, « Agri-Vie I fund investors followed in the second, » said Herman Marais, senior partner at EXEO Capital. Among the institutions included in the round table, Nordfund, the Norwegian investment fund for developing countries, already financially involved in the first fund.
Exeo Capital’s management also confirmed that equity investments, ranging from $5 million to $15 million, had already been made through the Agri Life II fund in four sub-Saharan African companies with « solid growth projections ». West Africa would be one of the new regions targeted by the South African investment firm, Exeo Capital, citing potential investments in Côte d’Ivoire and Ghana. Mainly active to date in Eastern and Southern Africa, the company has an investment portfolio spread over nine countries, ranging from fruit juices (Africa Juice in Ethiopia) to flowers (Marginpar in Kenya) and vegetable oil (Vida Oils in Mozambique).

Marginpar is active in floriculture in Kenya and is one of the holdings
in Exeo Capital’s portfolio.
Credit: Marginpar

Launched in March 2016, through a 50/50 joint venture between the founders of the private equity fund and asset manager Stanlib – a subsidiary of South African insurer Liberty Holding – Exeo Capital now manages nearly USD 300 million in assets through its two funds.