Jacana Partners and Kenyan InReturn Capital Announce Merger, SME Fund
Wednesday, 30 January 2013
SME-financiers Jacana Partners have announced the merger with Nairobi-based InReturn Capital, also an SME-focused PE firm, after having co-operated on a less formal basis for the past three years. The merger, under the Jacana brand, is expected to be legally completed in the first quarter of 2013. The new entity plans to manage a USD75m SME fund that will close later in the year. The transaction size of the new entity will rise from InReturn’s USD0.5-1.3m to USD1-5m.

With this move, Jacana are enhancing their East Africa footprint after having completed a similar transaction in West Africa last year: In August 2012, Ghanaian Fidelity Capital Partners, originally part of the Fidelity Group, announced the merger with Jacana, also after a prior two-year partnership.

Given the growing number of SME-focused funds and the concerns over the commercial viability of those smaller funds, this consolidation is a positive development for the industry.

From www.Africa-Assets.com

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