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Growth Capital Fund

Growth Capital Fund (GCF) is the latest step in Goodwell’s mission to create an inclusive world with no one left behind. This EUR 50m fund is designed to fuel inclusive, green, transformative growth in East and Southern Africa.

Green transformation, guided by African entrepreneurs

African SMEs are a central driver for building an inclusive economy, yet often face systemic barriers to financing that stand in the way of their growth. GCF is designed to address the funding gap for fast-growing mid-stage companies deemed too large for earlier-stage capital, yet too small for later-stage capital. Recognising the diverse needs of these entrepreneurs, GCF will deploy from a range of non-dilutive financial instruments such as convertible loans, revenue-based financing, redeemable preference shares, loans with equity kickers, and subordinated loans.

Similar to our prior funds, GCF will invest in local businesses that address local issues, create jobs, and improve access to basic products and services. However, with this fund we’re sharpening our sector focus on agriculture, investing in growing businesses driving inclusive, green, resilient growth in East and Southern Africa. 

Growth Capital Fund overview

EUR 50m

Target size

Southern & East Africa

Geographical focus

7-year

Limited-life vehicle

Green sectors

Agriculture & green transformation

EUR 1-5m

Ticket size

Working at the intersection of social, environmental, and financial impact

Agriculture is at the intersection of many societal challenges, from nutrition and food waste to job creation, gender inclusion and climate resilience. By emphasising investments in companies working in the agricultural value chain and directly contributing to Africa’s green transformation, GCF seeks to create sustainable, intersectional impact. From food processing to storage, transport, and last-mile logistics, GCF will engage with key stages of the agricultural value chain to maximise potential social, environmental, and financial benefits.  While we will build the GCF portfolio from the scratch, our uMunthu II portfolio company, SOUK Farms, is a prime example of the type ofmid-stage businesses we will target. 

Creating inclusive impact

If you’re curious to learn more about our plans for enabling inclusive growth in Africa, please get in touch. We’re looking forward to telling you more about what we do. 

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