FMO invests in XSML’s third fund

Posted on: 16 September, 2020 at 10:19 AM

Dutch development financier FMO has signed a $10 million investment in XSML’s third fund, African Rivers Fund III (ARF III). XSML is a fund manager active in Central and East Africa.

ARF III will build on the successful strategy of XSML’s previous funds to employ a mixed mezzanine and equity investment approach to build a diversified portfolio of SME investments.

The fund will invest in some 30 to 40 companies with an investment size in the range of $100,000 to $7.5 million. The core geographical focus of the fund will include Angola, the Democratic Republic Congo, Uganda and Republic of Congo.

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