Investors in the fund included fund of funds, asset managers, sovereign wealth funds, pension funds, family offices and development finance institutions. The fund raised investments from all over the world: 40% from Africa, 40% from Europe and 20% from the US. Half of the funds raised from Africa were sourced from Nigeria alone.
The fund has already invested more than 25 percent of its capital in four businesses, including Niyya Food & Drinks, a Nigeria-based producer of fruit juice and dairy products, and Shaldag, an aquaculture facility operating in West Africa. Verod is looking to build Shaldag into the largest and most advanced fish farm on the continent.
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