Eklavya Growth and Impact Fund 1
Last updated 12 May 2020, by Impactyield.
Emerging countries (256) / Africa (127) / Middle Africa (17)
Eklavya Growth and Impact Fund1 (EGIF1) makes growth stage investments in companies that have a meaningful societal benefit by providing quality employment opportunities and enhanced quality of life in sub-Saharan Africa.
Eklavya Asset Managers ("Eklavya") believes that it is possible to earn commercial returns for its investors whilst also having a positive impact on society. In this regard, Eklavya has set up the Eklavya Growth and Impact Fund 1 ("EGIF1"). EGIF1 raison d'être is to participate in the development of the continent on a sustainable basis by providing capital for growth or expansion purposes that will also result in meaningful social development on the African continent.
Eklavya is managed by a team of seasoned professionals with significant experience of making and monitoring investments on the African continent. Eklavya aims to raise commitments of USD 100m for EGIF1 with anticipated first close in March 2017. EGIF1 already has a seed asset and also has an exciting pipeline of investment opportunities.
The Fund aims to deliver commercial returns to its investors targeting a of 15% to 20% in USD terms whilst also participating in the development of the African continent on a sustainable basis. This is to be achieved by providing seasoned entrepreneurs and businesses with capital for expansion or growth purposes in Africa.
of track record
the year funded
Key performance indicators
Asset manager: Eklavya Growth and Impact Fund1
Product track record: Fund has 7 years of track record
Target IRR: 20%
Committed Capital: 55,000 USD (US Dollar)
Target return category: Risk-adjusted market-rate of return
Fund domicile: South Africa
Product status: Open - committed capital
Style/Stage: Growth Stage
Inception year: 2016
Vintage year: 2016
Target region: Africa, Emerging countries, Middle Africa
Target close date: 01/03/2017
Product term: 10 year tem
Assets under management: 100,000,000 USD (US Dollar)
Investment size: Min: 7; Max: 15; Avg: 12
Co-investment policy: LPs have priority, With LPs and non-LPs
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
Fund investments to date: 1
Fund investments to date exited or repaid: 0
Management fee: 1.85%
Carried interest: 20%
Hurdle rate: 8%%
GIIN Investors' Council Investment: No
Limited Partners / Investors: n.a.
Limited Partner / Investor Type: Development Finance Institution (DFI), Endowments/Foundations, Family Office, Pension Funds
Phone number: 27115933241.00
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The impact is likely to be in the form of higher employment and/ or improvement of quality of life. The capital is to be deployed for expansion purposes. The target focus region is Sub Saharan Africa.