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Mauritius-based PE firm Ascent Capital launches in Ethiopia

german-private-equityMauritius-based PE firm Ascent Capital has launched in Ethiopia and is calling SME’s to knock its doors for investments.

With offices in Ethiopia, Uganda and Kenya the firm expects to invest in SME’s with revenues from $2 million to $5 million for a ten-year lifetime to exist.

“We invest between USD 2-5 million per company. If everything goes well, which we hope it will, then we share the reward but if things do not go well we share the risk as well. And, of course, we target good dynamic Ethiopian entrepreneurs and there are many of them in this country,” Managing Partner Lucas Kranck told Ethiopia’s The Reporter.

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Ascent Capital aims to invest in local manufacturing firms especially those in FMCGs, dairy farms, fruit juice makers and slaughter houses as well medical service sector firms such as hospitals and medical laboratories like its earlier investment International Clinical Laboratory (ICL).

Established two years ago, Ascent Capital raised $10m from the Norwegian Fund (Norfund) and $5m from Austrian government fund (OeEB) among others.

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Sam Wakoba
Sam Wakobahttp://techmoran.com
Taking you on tour through Africa's tech and business ecosystem, one story at a time since 2010! Based out of Nairobi, Kenya, Sam is the founder and managing director of Moran Media, which runs  TechMoran.com, various other digital platforms and a startup incubation hub for Kenya's youthful entrepreneurs. Drop me a mail at [email protected]

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