Catalyzing Capital for Agri-SMEs in Africa
About us
FASA (or “Financing for Agri-SMEs in Africa”) is a fund of funds which aims to unlock financing for agricultural Small and Medium Enterprises across Africa, by supporting investment funds that are active in the sector.
Our mission
Reducing the funding gap faced by agri-SMEs in Africa by mobilizing catalytic capital, empowering investment managers, and fostering a supportive ecosystem.
Our strategy
Providing catalytic capital and technical assistance to investment funds, which will in turn empower businesses operating within agricultural value chains in Africa.
Our Vision
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Enhancing food security & nutrition
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Improving livelihoods
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Promoting climate-smart agricultural value chains
Investment Strategy
FASA supports both emerging and established fund managers raising funds across any asset class, currency or region, provided they focus on Africa’s agricultural sector. FASA’s capital is therefore channelled to agri-SMEs in Africa through the investment funds.
For each selected investment fund, FASA provides from $2M to $10M of subordinated capital, mainly in the form of junior equity, alongside capacity building and technical assistance. For the avoidance of doubt, FASA does not provide grants. In addition, FASA provides capacity building and technical assistance to the fund managers and their agri-SME portfolios.
Eligibility
FASA invests in investment funds that meet the following criteria:
01
Have at least one senior investment professional* based in Africa or planning to be based in Africa within the investment vehicle’s closing period (*Senior investment professional refers to the following positions: Chief Investment Officer, Investment Director, Credit Director)
02
Be an SME investment fund (an investment fund that channels at least 75% of its capital to SMEs) that provides initial investment ticket sizes ranging from $15K to $5M
Have a minimum exposure of 30% to African agri-SMEs
ESG & Impact
Commit to implement FASA’s minimum ESG and impact practices
Gender
Align with FASA’s gender requirements
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08
Data Room Accessibility
Maintain an accessible data room:information should include the fund presentation, financial model, legal structure, pipeline and existing portfolio (if any), governance, team bios and track record, ESG & impact policy, and any market research data
Who is leading FASA?
Investisseurs et Partenaires (I&P) is FASA’s Fund Manager
I&P is an impact investment group dedicated to financing and supporting African entrepreneurs while strengthening entrepreneurial ecosystems across the continent. Through its fund of funds activities, I&P has supported 25 African funds to date, becoming the main backer of emerging African fund managers. With over 20 years of experience in the agri-food sector, I&P has gained hands-on expertise in 15 African markets in a diversity of value chains.
The CGIAR Hub for Sustainable Finance (ImpactSF) is FASA’s Agriculture and Climate Partner
CGIAR offers data-driven solutions and science-based evidence to help investors de-risk their portfolios by quantifying climate and environmental risks and impacts, and to enhance investment decision towards sustainable food systems. CGIAR also builds the capacity of fund managers to design robust climate and agricultural impact thesis and frameworks.
Donors
Frequently Asked Questions
What is FASA?
FASA is a multi-donor catalytic capital facility initiated by Norway and USAID to spur investment in Africa’s agricultural growth. Its objective is to attract philanthropic organizations, DFIs and private capital investors into agribusinesses in Africa, which in turn enhance food security and nutrition, improve livelihoods, and promote climate-smart value chains.
When will FASA be operational?
FASA is expected to start making investments in the first half of 2025.
What investment instruments does FASA provide?
FASA provides subordinated capital, in the form of equity and/or debt. For the avoidance of doubt, FASA does not provide grants.
Besides capital, what other forms of support does FASA provide to investment vehicles?
In addition to catalytic capital, FASA provides capacity building and technical assistance to both fund managers and their portfolio agri-SMEs.
I am a fund manager, can I access capital from FASA?
Should they be in line with all eligibility criteria listed in the “Eligibility” session, investment managers currently fundraising are invited to reach out by sending their fund deck to info.FASA@ietp.com.
I am an agri-SME, can I access capital from FASA?
No. FASA only invests in investment funds and does not provide direct investments to SMEs.
I am a bank or a microfinance institution, can I access capital from FASA?
No. Microfinance institutions and banks are not eligible to FASA. FASA invests in investment vehicles that deploy ticket sizes between $15K and $5M to SMEs.
What's the maximum exposure of FASA when investing in a fund?
FASA will limit its exposure to any single investment vehicle to a maximum of 49% of the fund's target size.
For more information on FASA,
please reach out to our team at