Focused execution in two core markets.
Ghana · Nigeria · Growth capital
Backing the businesses
Ghana and Nigeria
cannot afford to lose.
Flexible growth capital and hands-on institutional support for established businesses delivering essential products, services and jobs.
Investment, follow-on and exit decisions are subject to Investment Committee oversight.
Scenario analysis and downside testing inform structure and monitoring.
Relevant indicators are monitored alongside commercial performance.
01 / Our thesis
The opportunity others overlook
Proven businesses.
Capital constrained.
Across Ghana and Nigeria, many important businesses have real customers, meaningful revenues and clear growth potential—yet remain poorly served by conventional capital.
They are often too established for venture funding, too small for traditional private equity and unable to finance long-term growth with short-term bank debt.
DevCap was built for this missing middle: providing appropriately structured capital and helping management teams build the institutions required to scale.
DevCap Impact Fund I
A focused strategy for the real economy.
Exposure to established businesses serving fundamental needs in two of West Africa’s most important markets.
Growth equity and structured capital
Per portfolio company
& Nigeria
Deep local focus
- 01Agribusiness & food systems
- 02Essential consumer goods & services
- 03Clean technology
For information purposes only. Nothing on this website constitutes an offer or solicitation to invest.
02 / The DevCap edge
Built for the market we serve
Local judgement.
Institutional discipline.
Flexible capital
Equity, preferred equity and convertible structures designed around each company’s cash flows, growth plan and risk profile.
Institution building
Active support across governance, financial management, strategy, operations and organisational capability.
Actuarial-informed risk discipline
Scenario analysis, downside testing and forward-looking indicators help us assess resilience, structure investments and monitor risk over time.
Accountable impact
Investment-level objectives and indicators monitored alongside financial and operational performance.
Our view of impact
“Impact is not a parallel promise. It is what stronger, more resilient businesses create through the way they grow.”
We focus on outcomes that can be understood and measured:
- Quality employment
- Women’s economic participation
- Access to essential products and services
- Resilient local supply chains
- Responsible environmental practices
03 / Selected investment
Nigeria · Food processing
Prothrive
Producing accessible cereal-based foods and snacks for Nigerian consumers.
Partnership thesis
Explore our portfolio approach →
Supporting growth while strengthening the systems, governance and operating capacity required to build a more resilient food business.
04 / Governance
Experience with accountability
Designed for sound investment decisions.
Our investment team originates, executes and manages investments. An independent Investment Committee reviews and approves investments, follow-ons and exits.
Investment team
Local execution, portfolio support and long-term partnership with management teams.
Independent Investment Committee
Independent scrutiny of investment decisions in accordance with the fund’s governance framework.
Advisory Board
Senior strategic guidance, market insight and connectivity without investment approval authority.
Investment teamSelect a profile to learn more
Independent Investment Committee
For business owners
You have built the business.
Let’s build the institution.
We partner with established companies in Ghana and Nigeria seeking US$500,000–US$4 million for their next stage of growth.
we look for ↗
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