Ascent Africa private equity fund eyes $60 million by mid-2015

Private equity firm Ascent Capital wants to increase its east Africa fund to $60 million by mid-2015 from $50 million it has raised so far and plans to announce completion of its first investment in about two weeks, a partner said on Monday.

Ascent is one of several private equity firms to launch in recent years in Africa, seeking to take advantage of swift growth rates and expanding populations.

The Ascent Rift Valley Fund, domiciled in Mauritius, launched in February last year with about $40 million aiming to invest between $2 million and $10 million with each investment in companies seen benefiting from expanding consumer demand.

Read more: Ascent Africa private equity fund eyes $60 million by mid-2015 | Reuters.

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