Private equity firms have moved fast, in Kenya, to meet the gap of financing entrepreneurs. One such firm is Fanisi Capital. It has already set its eyes on a second fund after great success with its first.
Fanisi Capital was founded in 2009. Its ownership is divided between a group of investors and the Norwegian Investment Fund for Developing Countries (Norfund). Since then, it has focused on funding entrepreneurs in the high growth sectors of agribusiness, healthcare, energy, light manufacturing, finance services plus retail and consumer.
The fund is directed by, CEO, Ayisi Makatiani and has successfully spread its reach to the East African markets of Kenya, Uganda, Tanzania and Rwanda. Other executives for you to know are:
- Tony Wainaina – Managing Partner
- Martin Kariuki – Principal Portfolio Operations
- Ceaser Nyagah – Investment Manager
- Asif Noorani – Investment Associate
- George Ndirai – Chief Finance Officer
What is their track record?
Fanisi Capital will definitely want to know what your track record is before they finance you. It’s only fair that you should scrutinize what they have shown capable of in the past. After all, you definitely want the right kinds of people investing in your business.
The firm has recently concluded a fruitful Sh.5 billion first fund. Yes, the numbers don’t lie. And we don’t want you to miss out on the second one. This first fund included acquiring stakes in business of different sectors, as aforementioned. As early as 2011, Fanisi Capital had Hillcrest among its portfolio. In 2013, it made a sizeable investment in a Nairobi retail pharmacy chain. Chemist. One last example for you is its, 2015, investment in outdoor advertising firm Live Ad Limited.
Fanisi Capital Fund II
Ayisi: “fund II is so on”These, and more, have spurred this private equity fund to raise more money to “consolidate” their investments and to venture into new terrain. The second fund aims to raise Sh.10 billion. For this, it eyes the investment capacity of local institutional investors. Already “several leading pension funds have already committed to putting money into the fund,” as per Fanisi CEO Ayisi Makatiani.
Do you qualify for funding?
You have already read that Fanisi Capital is a pretty choosy partner to court. If you have the qualities of its ideal partner, in terms of business sector, know that you will be expected to meet even more qualities. I have summarized them for you, like our Facebook page in return (;
- Ask yourself this, are you able to demonstrate the long-term strategic vision of your business? You must show Fanisi Capital that you are capable of outperforming the market
- Your management team should have experience or demonstrate the ability to realize the goals of your long-term strategic vision
- You and your business (did you know that sometimes you can be one and the same with your business) must comply with the International Finance Corporation (IFC) performance standards. Basically, have a faultless corporate governance system
Fanisi Capital has no problem with either a minority or a majority stake. This is the case with many other Venture Capital funds. The stake can be in the form of equity or quasi-equity, like in the case of convertible debt. This VC firm will look to exit in 3 to 6 years.
READ: LIST OF KENYA GOVERNMENT FUNDS FOR ENTREPRENEURS
It can invest between Sh.5 million and Sh.1.5 billion in your business. This is as long as you are either an expanding business with at least 3 years of profit or you have a growing business that is post-revenue and has been in operation for at least 3 years.
Get Funded!
Fanisi Capital has its office at Arlington Block, 4th floor on 14 Riverside Drive. You may meet here for the face-to-face meeting that precedes that hefty bank account top up. Before that, you will want to fill a form requesting such. The form is available for download or to be filled online.
- You can download it, fill it, and send to [email protected]
- You can also fill and submit the form here, good luck!
