Pearl Capital Partners

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An independent agriculture investment management firm.

PEARL CAPITAL PARTNERS

We are a specialist agriculture investment firm that has been investing in small and medium sized East African agribusinesses since 2006. Our investments generate financial returns for our investors while creating significant social impact.

Our success is derived from working with ambitious management teams, providing supportive investment structures and specialist expertise that create high-growth agribusinesses.

Our investments strengthen agricultural sub-sectors and use smallholder farmer networks to generate significant income for millions of families across East Africa. The byproduct of this growth is that it creates financial returns for us and our investors.

CURRENT FUND UNDER DEPLOYMENT

Dairy And Horticulture Limited (DHCL)

DHCL is a fund managed by PCP and funded by the Kingdom of the Netherlands (EKN) Embassy. The fund has two separate credit lines, each capitalized at €3 million. This credit fund will primarily lend efficient medium-term loans to SACCOs and Cooperatives in Uganda’s Central, Eastern, Western, and Southern regions for onward lending to their smallholder farmer members operating in the Dairy and Horticulture Agri-sub sectors.

DHCL was established in November 2022, and the Fund manager, PCP, is actively identifying, evaluating, and investing in eligible SACCOs, SMEs and cooperatives in Uganda. DHCL is collaborating with SNV and Techno serve to provide technical assistance and BDS support for institutions accessing credit from the fund. Their responsibilities include M&E support, backstopping, and monitoring SACCO and farmer use of the facility in addition to continuous capacity building.

Yield Uganda Investment Fund (Yield Fund) 2017-2027

The agribusiness impact fund, set up in January 2017 by the European Union (EU), through the International Fund for Agricultural Development (IFAD) and the National Social Security Fund (NSSF), with an initial €12 million investment, has now hit the €20 million (UGX 85 billion, 4250 UGX per EUR) mark in total commitments, following an €8million (4250 UGX per EUR) investment from the Open Society Foundation and FCA Investments.

Investee Companies

Quality Milk Diary

UgandaJuly 10, 2023

The Yield Uganda Investment Fund (Yield Fund) is pleased to announce an investment in quality Milk Dairies Limited Ltd. This marks the Fund’s 15th investment into the Ugandan agricultural sector.

Newman Foods

UgandaNovember 30, 2022

The Yield Uganda Investment Fund (Yield Fund) is pleased to announce an investment in Newman Foods Ltd, in a blend of equity and quasi-equity. This marks the Fund’s 14th investment into the Ugandan agricultural sector.

Kamp Feed Uganda

UgandaAugust 9, 2022

The Yield Uganda Investment Fund is proud to announce a USD 2.6 million (UGX 9.5 billion) aggregate investment in Kamp Group Limited. This blended equity and debt funding was raised through a co-investment arrangement between Yield Uganda and Gorm Pedersen 2 Holding ApS, a Danish investor. This marks the Funds thirteenth investment in the Ugandan SME agribusiness sector.

Enimiro Uganda

UgandaJuly 25, 2022

Enimiro is a Jinja based Agri SME company first incorporated in 2019, and has since achieved rapid traction in the vanilla marketplace. The company is a vertical supply chain management business connecting the small holder farmers to the international buying community for three organic products; vanilla, arabica coffee and dried pineapple.

Sausage King

UgandaJanuary 6, 2022

Sausage King, a pioneering meat processing company 30 kilometers outside of Kampala, was established in February 2019 and specializes in value addition and processing of beef, poultry, and pork into convenient premium meat products. Sausage rolls, cold cuts, and specialty cuts are among the products produced by the company. Read press release

Sekajja Agro Farms Limited (SAF)

UgandaNovember 3, 2021

Sekajja Agro Farms Limited (SAF) is a Kampala based company whose primary business is the rearing of day-old-chicks (DOCs) until maturity and the distribution of the mature birds as live birds and dressed chicken in the informal and formal markets, respectively. The business also operates a feed mill, an abattoir, a cold chain and branded…

African Agricultural Capital Fund

(AACF) 2011-2018

AACF’s investors are the Rockefeller Foundation, the Bill and Melinda Gates Foundation, The Gatsby Charitable Foundation, JP Morgan Chase Social Finance and USAID. The investors have collectively invested US$25 million for the fund plus a technical assistance facility of US$1.5 million from USAID. AACF invests in high growth business in the agricultural value chains in East Africa. AACF has invested in 8 businesses in Uganda, Kenya and Malawi.

African Seed Investment Fund

(ASIF) 2010-2021

The Alliance for a Green Revolution in Africa (AGRA) is the sole investor in ASIF where it invested US$12 million. ASIF’s mandate is to provide affordable risk capital to seed companies to improve the delivery of quality certified seed to smallholder farmers. ASIF invests in qualifying business in eight countries namely Kenya, Tanzania, Uganda, Rwanda, Ethiopia, Mozambique, Malawi and Zambia. ASIF is now fully invested with 13 investees across the East and Southern African region.

African Agricultural Capital

(AAC) 2006-2018

AAC was established as an investment company in 2005 with the following investors: The Gatsby Charitable Foundation, Rockefeller Foundation and Volksvermogen NV, a Belgian investor. The investors collectively invested US$9 million in AAC.
AAC invested in high-growth SMEs, achieving a commercial return which while impacting large numbers of smallholder farmers by bringing them into markets. The fund fully invested the US$9 million in 16 businesses.

The BDS facility is a grant provided by the EU, and implemented by IFAD.

BUSINESS DEVELOPMENT SUPPORT (BDS) FACILITY

The facility is designed to help investee enterprises under Yield Fund towards successful business growth and expansion.

Through this facility, investee businesses have access to high quality Business Development & Management Support, provided by highly qualified SME based consultants, particularly in the areas of improving business administration (policies, procedures, internal controls) and financial management systems.

YIELD INVESTMENTS

CHEMIPHAR Uganda Limited-2019

Chemiphar is an internationally accredited analytical laboratory located on the outskirts of Kampala, in Kansanga, whose core business is to provide testing and inspection services to SME businesses operating in food and beverages, agro-products, environment, pharmaceutical and cosmetics as well as agricultural seeds. Chemiphar therefore essentially acts as an enabler to agri-businesses which are required to meet international standards for both export and local certification of their processed and value added products.

CECOFA-2018

The Yield Uganda Investment Fund, set up with financing from the European Union (EU) through the International Fund for Agriculture Development (IFAD) and National Social Security Fund Uganda (NSSF), managed by Pearl Capital Partners (PCP), has made its second investment in Uganda, committing UGX 5.14 billion Shillings to Central Coffee Farmers Association Ltd (CECOFA), a farmer owned primary coffee processor. The fund is on schedule to close a further two agri-business investments over the remainder of the year 2018.

Sesaco Limited- 2018

Sesaco Limited is an agro-processing company, processing and manufacturing soy based products. The Promoter, mooted the idea in 1978, started trading at small scale household levels and consequently registered Sesaco in 1987. The business is currently located at Kyengera trading centre, 9 kilometers from Kampala city center, a prime location providing accessibility to suppliers and markets. Sesaco’s flagship products are soy cup (a decaffeinated instant beverage), soy millet flour and soy maize flour.

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