AHL Venture Partners has announced the first close of its AHL Africa Credit Fund I at $30.5 million, less than a year after launching the fundraising process.

The fund is anchored by the AHL Charitable Foundation and has attracted commitments from three family offices. It is targeting high-net-worth individuals, family offices and foundations seeking exposure to African private credit markets.

The first close marks the next phase of AHL’s strategy to expand its private credit activities across the continent. Since 2020, the firm has deployed more than $120 million in debt investments through the AHL Foundation and AHL-led syndications, focusing on businesses operating in financial inclusion, climate-related sectors, and sustainable food and agriculture.

AHL said its experience investing across debt, equity and fund structures since 2007 led it to increase its focus on private credit, which it views as a scalable and risk-managed approach to supporting African businesses while generating financial returns.

The AHL Africa Credit Fund will primarily provide debt financing to growth-stage African businesses, with a focus on financial inclusion, climate action and agriculture. The fund will offer a range of financing solutions, including senior secured loans, mezzanine financing and bridge loans.

According to AHL, the fund is designed to provide flexible financing tailored to the needs of businesses while maintaining the structures and protections expected by investors.

Alongside the fund, the AHL Foundation will continue investing in earlier-stage businesses that may not yet meet the fund’s investment criteria but could become candidates for larger financing rounds in the future.

The fund remains open to additional investors and is targeting a final close in the first quarter of 2027.

“This first close is an important milestone for AHL and reflects growing conviction that African businesses need more flexible, long-term debt capital,” said Rosanne Whalley, Chief Executive Officer of AHL Venture Partners.

“After nearly two decades investing alongside entrepreneurs across the continent, we believe there is a significant opportunity to build a scaled private credit platform that supports strong businesses solving real challenges across African markets.”

Whalley said the firm also sees an opportunity to attract more private investors to the African credit market.

“We also see ourselves as an on ramp for private capital looking to allocate for impact and returns in the African market,” she said.