African Agricultural Capital Fund L.L.C. (AACF)

Zephyr Management was appointed successor manager of AACF in July 2018. Originally formed in 2011, AACF called approximately $20 million to invest in companies involved in various aspects of agriculture in Uganda, Kenya, and Malawi. Zephyr is providing active support to portfolio companies, guiding the divested companies to successful business plans and successful divestment of AACF’s investment; and working with the remaining companies to build management strengths, develop viable business plans and develop self- sustaining financial structures. 

AACF made investments ranging from $250k to $2.5 million, particularly in small and medium sized agricultural businesses. The Fund’s objective is to create positive social impact as well as financial returns which is part of the investment mandate.

AACF made investments ranging from $250k to $2.5 million, particularly in small and medium sized agricultural businesses. The Fund’s objective is to create positive social impact as well as financial returns which is part of the investment mandate.

The Fund’s investments create opportunities for small family-run farms to increase their incomes and improve their livelihoods. The AACF portfolio companies do so by creating jobs and positively affecting businesses related to farmers. The portfolio companies also contribute to the local and national economies.

The Fund’s investments create opportunities for small family-run farms to increase their incomes and improve their livelihoods. The AACF portfolio companies do so by creating jobs and positively affecting businesses related to farmers. The portfolio companies also contribute to the local and national economies.

The Fund’s key theme is food production and it targets this opportunity by focusing on three sectors: primary (farms and plantations); secondary (processing and animal feeds); and services/infrastructure (storage, fertilizers, chemicals, packaging and other inputs). The strategy includes building integrated businesses to control the agri-supply chain.

The Fund’s key theme is food production and it targets this opportunity by focusing on three sectors: primary (farms and plantations); secondary (processing and animal feeds); and services/infrastructure (storage, fertilizers, chemicals, packaging and other inputs). The strategy includes building integrated businesses to control the agri-supply chain.

Active Investments

Divested Investment

Team

Managing DirectorStephen is Managing Director for Zephyr Management, L.P. He is responsible for the overall general management of the firm’s finance, legal, marketing and client service functions. He is also Senior Advisor to Zephyr Peacock PE funds in India. Prior to joining Zephyr, he served as Chairman and CEO of The Dreyfus Corporation and as a Vice Chairman of Mellon Financial Corporation. He also served as CEO of Kleinwort Benson Investment Management Americas, Mitchell Hutchins Institutional Investments and Chase Investors Management Corp. Stephen has an AB from Cornell University and an MBA from Columbia University Graduate School of Business. He is a member of the CFA Institute, New York Society of Security Analysts, Economic Club of New York and is a Trustee of Tuskegee University. Formerly, Stephen served on the Board of Governors for the Investment Company Institute and was a member of the Financial Services Roundtable.

Stephen E. Canter

Managing Director

ChairmanThomas (Tom) is the Chairman of Zephyr Management, L.P.(Zephyr). Tom founded Zephyr in 1994 to support businesses in emerging markets. Prior to founding Zephyr, Tom was President and CEO of Rockefeller & Co., the investment management arm of the Rockefeller family. Previously, Tom was employed by T. Rowe Price Associates, Inc. where he was President of Rowe Price New Horizons Fund and Director of Research. Tom has an MBA from Harvard Business School and an undergraduate degree from Yale University where he majored in Latin American Studies. He is a Chartered Financial Analyst. Tom is also a Director or Trustee for several not for profit institutions.

Thomas C. Barry

Chairman

Contact Us

Offices

African Agricultural Capital Fund L.L.C. (AACF)

Ikigai, JGO 90, James Gichuru Rd., Lavington, Nairobi, Kenya

Tel: +254 727 575 054

Website: https://www.zmlp.com/aacf

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