Equator Capital Partners LLC Announces the First Closing of ShoreCap III, LP: A Financial Inclusion Fund for Africa
Impact fund manager Equator Capital Partners LLC announced the first closing of ShoreCap III, LP, with USD 62 million in commitments from African Development Bank, CDC, European Investment Bank, KfW and Austrian Development Bank OeEB.
ShoreCap III, LP is a ten-year closed end Fund targeting commitments of USD 150 million from accredited investors. The Fund will invest in African inclusive finance opportunities, and expects to invest in approximately 15 institutions at an average size of USD 8 million. Financial technology applications by microfinance and microinsurance companies, small and medium enterprise (SME) Banks, leasing companies, and housing finance companies have given rise to a strong set of investment opportunities across the continent.