The African Agriculture Fund Invests in Feronia (Sub-Saharan Africa)
Source: Phatisa, Feronia
The African Agriculture Fund (AAF), a private equity fund managed by Sub-Saharan Africa-focused firm Phatisa, has agreed to invest up to US$10.5 million in Feronia, a large-scale commercial farmland and plantation operator in the Democratic Republic of the Congo, through one of the fund’s subsidiaries. The subsidiary will invest in two tranches and AAF will indirectly hold 19.9 percent of Feronia’s issued and outstanding common shares. Feronia, whose principal products are crude palm oil and palm kernel oil, is listed on Canada’s TSX Venture Exchange.