Injaro Investment Advisors Ltd (IIAL), a private equity fund manager, announced in Ghana, the first closing of the Injaro Ghana Venture Capital Fund (IGVCF) at 200 million cedis (€) 19.742 million).

The first closing of the IGVCF fund was attended by Stanbic Investment Management Services (manager of Axis Pensions Trust and others), Petra Advantage Pension Scheme and Petra Opportunity Pension Scheme, Databank Asset Management Services (manager of the Ghana Education Service Occupational Pension Scheme), and the Venture Capital Trust Fund. In reality, Injaro Investments is a private equity fund manager with approximately $65 million under management and has deployed Injaro Agricultural Capital Holding Limited (IACHL) and Agri-Business Capital Fund (ABC Fund) over the past 12 years.

The IGVCF fund, for its part, is unique in that it is the first fund in Ghana denominated in local currency and financed mainly by local pension funds. This fund announced by IGVCF will make equity, quasi-equity or debt investments in SMEs mainly in Côte d'Ivoire and Ghana.