- Kuramo secured Ksh64.5 billion to expand investments across Africa.
- The funding is backed by African pension funds and development finance institutions.
- The firm says the platform will boost private investment and economic growth.
Kuramo Capital Management has announced the closing of investment mandates worth approximately $500 million (about Ksh 64.5 billion). The funding comes primarily from African pension funds and development finance institutions (DFIs), marking a major milestone in mobilizing local capital for investments across the continent.
The investment manager stated that the funding includes commitments to the Investment in Digital and Creative Enterprises (iDICE) initiative with Nigeria’s Bank of Industry; MEMA, an East African pensions investment vehicle; and the Kuramo Africa Opportunity Fund IV Nigeria (KAOF IV), which is backed by Nigerian pension funds.
According to the firm, this new investment platform consolidates commitments from African pension funds while expanding its existing portfolio. This portfolio includes the Wholesale Investment Impact Fund (WIIF) and Moremi Capital Management, Kuramo’s gender-lens investment platform. Kuramo noted that the Moremi Accelerator has already identified 45 first-time, women-led fund managers and helped mobilize more than $100 million (Ksh 12.9 billion) in capital for women-led businesses.
Founded in 2010, Kuramo has catalyzed more than $3.5 billion (Ksh 452 billion) in investments into African private equity firms and businesses. Over the past 15 years, the firm has supported more than 20 fund managers, anchored over 15 funds, and invested directly and indirectly in more than 200 companies—ultimately supporting over 500,000 jobs and positively impacting more than three million lives.
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Kuramo Founder and Chief Executive Officer (CEO) Walé Adeosun noted that the new platform builds on the historical support received from international investors while pivotally shifting focus toward organizing African capital.
“Kuramo is appreciative of the support provided over the last 15 years by our Western endowments and foundation investors, as their support enabled the transformation of the African private equity landscape. Kuramo is very excited about its Investment Platform and progress in mobilizing African capital, as it helps drive faster economic growth toward the sustainable development of Africa,” Adeosun said.
Kuramo Co-Chief Executive Officer Shaka Kariuki added that the company aims to help local pension funds diversify into alternative investments by leveraging its extensive experience and regional networks.
“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 stated.
Headquartered in New York with regional offices in Nairobi and Lagos, Kuramo Capital Management manages direct investments, private equity, and venture capital funds across Africa through a diverse product suite, including KAOF IV, MEMA, iDICE, Moremi Capital Management and WIIF.
By Bernard Magada
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