Kuramo Capital Makes US$10 Million Commitment to Uhuru Fund I
March 21, 2021
Kuramo Capital Management (“Kuramo”), a Sub-Saharan Africa focused investment management firm, is pleased to announce its US$10 million commitment to Uhuru Growth Fund I (“UGF”). UGF is a middle market private equity fund launched by Uhuru Investment Partners (“Uhuru”), investing in high growth companies in West Africa, including Nigeria, Ghana, Côte d’Ivoire and other Francophone markets. Through the US$ 10 million commitment to Uhuru, Kuramo continues to support local first-time fund managers and drive catalytic investments in sub-Saharan Africa (SSA). This support includes opportunities for GPs and entrepreneurs to access institutional capital, as well as develop a global footprint and deep understanding of the region.
Walé Adeosun, Kuramo’s Founder, CEO and Chief Investment Officer commented: “We are very excited by our commitment to UGF. Kuramo believes in indigenous teams like Uhuru whose local but global edge is critical to Kuramo’s strategy of generating excellent long-term risk-adjusted returns for our investors. We believe Uhuru has a compelling investment strategy with a competitive edge in identifying relatively attractive opportunities due to their extensive local network. Additionally, the Uhuru team is expected to bring their experience in global best business practices to their portfolio companies as part of their value creation process.”
The Uhuru team is led by founding partners Dr. Yemi Osindero, Nana Adow Dankwa, and Jean-Michel Kamanan. The Fund will partner with passionate entrepreneurs to maximize their potential by improving operations and applying world-class business and ESG practices, investing in high-growth companies in Consumer facing and Financial Services sectors. According to the Yemi Osindero, the Managing Partner, “We are delighted to reach the first close of our fund. We are immensely grateful for the unwavering support of our investors in what has been a challenging fundraising environment. We look forward to positively impacting the growth of West Africa’s economies by supporting local companies in our target sectors, helping them grow into regional champions, and creating new, high-quality jobs. We are especially grateful to Kuramo Capital, for their belief in the team and support throughout our fund-raising process.” Kuramo is a private equity and multi-asset platform focused on investing in sub-Saharan Africa with about US$500 million in Asset under Management. The firm is headquartered in New York, with offices in Lagos and Nairobi.