GroFin launches SGB fund

On August 29, 2014, GroFin CEO Jurie Willemse announced the successful 1st closing of the GroFin SGB Fund. The new SGB fund aims to continue GroFin’s legacy of backing small and growing businesses [SGBs] , while integrating lessons learned over the past decade of operations. The SGB fund is supported by anchor investors Shell Foundation and KfW and will operate in South Africa, Ghana, Zambia, Kenya, Tanzania, Rwanda, Uganda, Nigeria and Egypt. The new fund is an evergreen vehicle that delivers a unique integrated solution of patient risk capital and end-to-end business support. Besides its extended time horizon, the new fund is distinguished by its tiered structure that allows different risk/return levels and maturities to investors.