Phatisa, a sector-focused private equity fund manager chasing companies in African food value chain, has roped in a partner for investments in West Africa.
Wilfrid Korsaga has joined Phatisa as partner for West Africa, as per his LinkedIn update. He joins Phatisa after two-and-a-half years at Kibo Capital Partners.
Kibo is also a private equity firm operating as a venture between Ciel Finance, the financial services arm of CIEL Ltd and the firm’s management team.
Kibo currently has two funds under management with assets totalling $100 million. The funds target small and medium-sized companies in Eastern and Southern Africa and the islands of the Indian Ocean.
Prior to Kibo, Korsaga had a short stint at impact VC firm AHL Venture Partners where he was involved with investments in West and Central Africa.
Although he has been working for almost two decades with the initial years in Canada, Korsaga started his active investment journey with PCM Capital Partners, an affiliate of Phoenix Capital Management, which has a West Africa fund. With Phatisa, he returns to the West Africa investment arena.
Meanwhile, Phatisa has boosted its team soon after raising its second fund with a corpus of $143 million.
This took its total assets under management to $400 million across three funds, focused on food and affordable housing segments.
Phatisa’s second food fund will consider investments in segments such as mechanisation, inputs, poultry and meat production, food processing and manufacturing, logistics, aggregation and distribution.