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Ivory

<h3 id="by-abdullahi-abdullateef" class="wp-block-heading">By Abdullahi Abdullateef</h3> 
<p>A multi-sector fund investor, <a href="https://www.google.com/url?sa=i&amp;url=https%3A%2F%2Fwww.injaroinvestments.com%2Ffunds&amp;psig=AOvVaw2DnCsol1l6yigVy1ljFwW2&amp;ust=1707922422027000&amp;source=images&amp;cd=vfe&amp;opi=89978449&amp;ved=2ahUKEwin5rX7yKiEAxXHVqQEHcljAnwQr4kDegQIARBK" target="_blank" rel="noopener">Injaro Investment Advisors Limited</a>, has secured $17.5 million fund in a bid to support top-of-the-shelf small and medium-scale businesses (SMEs) in Ghana and Ivory Coast. This was announced upon the close of its Ghana Cedi-denominated private equity fund, Injaro Ghana Venture Capital Fund (IGVCF), at GHS 216 million ($17.5 million).</p> 
<p>The company noted that investors in the equity fund include institutional investors such as Venture Capital Trust Fund and Minerals Income Investment Fund, Ghana and local pension fund, Stanbic Investment Management Services, PETRA securities, Databank group and CAL Asset Management Company Ltd.</p> 
<p>The company noted that the cedi-denominated private equity fund, Injaro Ghana Venture Capital Fund (IGVCF) was initiated to empower profitable SMEs in Ghana’s high-growth sectors. Industries targeted include mining support services, food and agriculture, education, healthcare, financial services, industrial services, and light manufacturing.</p> 
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  <img loading="lazy" decoding="async" width="800" height="400" src="https://technext24.com/wp-content/uploads/2023/02/Africas-venture-funding.png" alt="Africa's venture funding" class="wp-image-178829">
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<p>Similarly, the company plans to enhance the economic growth in Ghana, adding that protecting the financial health of the pensioners to whom the money belongs is very important.</p> 
<p>However, Injaro sets a benchmark for SMEs to be eligible for the fund, stating that a company must have been operating for three years, generated at least GHS 20 million in revenue, and had a net income (EBITDA) of at least GHS 3.5 million ($281,055).</p> 
<p>In furtherance with the measure, IGVCF is programmed to accrue a major or minor stake in the business. The company further stated that future exit is subject to cash flow, sponsor buy-outs, strategic Mergers and Acquisitions or Initial Public Offerings.</p> 
<h4 id="about-injaro" class="wp-block-heading">About Injaro</h4> 
<p>Injaro was founded in 2009 by Jerry Parkes and Dadie Tayoraud. Its vision is to provide the necessary capital to enable Ghanaian SMEs to scale their offerings and drive economic growth on the continent.&nbsp;</p> 
<p>So far, after 15 years in operation, the investment company manages $65 million across several funds, including Injaro Agricultural Capital Holdings and Agri-Business Capital Fund. The company explained that IGVCF will provide the necessary resources to create job opportunities for thousands in Africa, adding to the 3 million people who have already benefited from the fund.&nbsp;</p> 
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  <img loading="lazy" decoding="async" width="1080" height="810" src="https://technext24.com/wp-content/uploads/2024/02/Injaro-1.jpeg" alt="Ghana's Injaro VC secures $17.5m to invest in Ghanaian and Ivorian SMEs" class="wp-image-226832">
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<p>The company plans to stimulate Ghana’s economy and businesses while protecting the financial health of the pensioners who own the money it invests. The company also aims to promote environmental, social, and governance practices among its portfolio companies to help Africa’s economy grow sustainably.</p> 
<p>Injaro invested its first $2 million in Zeepay’s Series A round,</p> 
<p><strong><em>See also: <a href="https://technext24.com/2024/02/05/lemfi-bank-of-ghana-approves-rightcard/" data-type="post" data-id="226221">Bank of Ghana approves RightCard (LemFi) to operate remittances to Ghana</a></em></strong></p>

Ghana’s Injaro VC secures $17.5m to invest in Ghanaian and Ivorian SMEs

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