Fanisi Capital is targeting Sh10bn over next 12 months for its closed-ended 10-year SME venture fund.

The private equity firm has secured commitments worth Sh3bn from various investors.

Domestic investors including SACCOs and Trust Fund have committed 45% of Sh3bn with the rest coming from various international investors.

Ayisi Makatiani, Fanisi Capital’s Managing Partner and CEO: “We got eight local pension funds investing in this round, which is a big move for us as Fanisi and even the industry, as a whole.”

“As a Kenyan-based private equity firm, it is a great milestone for us to launch a second fund, and more so to raise what we have so far, and the support we have received. We are optimistic about the market and growth in our industry,” he added.

Makatiani said the fund will be directed to four key high growth sectors that include healthcare, retail and wholesale, education and agribusiness.

The firm’s first fund was worth Sh5bn and was is fully invested in various businesses that include Haltons Pharmacy, Hillcrest International Schools and Ngare Narok Meat Industries among others.

The Fund focuses on a segment of the market that has to date been outside the ambit of most venture capital funds in the East African market.