Pearl Capital-managed impact fund backs Ugandan agri supply chain firm

 Pearl Capital-managed impact fund backs Ugandan agri supply chain firm

Yield Uganda Investment Fund, an agribusiness impact vehicle managed by Pearl Capital Partners, has invested $515,000 (UGX 1.814 billion) in Enimiro, a Ugandan vertical supply chain partner.

This marks the fund’s first new deal this year after backing four companies in 2021. This also marks its twelfth investment into the Ugandan agriculture SME sector.

Enimiro is a Jinja-based agricultural SME company incorporated in 2019, and has since achieved traction in the vanilla marketplace.

The company runs a vertical supply chain management business connecting smallholder farmers to the international buying community for three organic products: vanilla, arabica coffee and dried pineapple, with vanilla as the anchor product.

The investment in Enimiro will help the company meet the demands of its existing and prospective customers by improving efficiencies, processing more volume, and improving product quality for both vanilla and arabica coffee.

This will be via development of the company’s newly acquired coffee processing site and aid in the procurement and installation of processing and drying equipment for the arabica coffee as well as the construction of a new vanilla processing facility warehouse, procurement, and installation of a new vanilla quick curing equipment.

Edward Isingoma Matsiko, Managing Partner at Pearl Capital, said: “We are cognisant of the cumbersome environment and dysfunctional limitations which are traditionally associated with the classical Ugandan organic products supply chains and we are confident that with our investment in Enimiro, the company’s ability to unlock potential of the Ugandan small holder farmers by providing the much needed and desired traceability system with international buyers will be enhanced.”

The fund was set up in January 2017 by the European Union, through IFAD and the National Social Security Fund. The fund received follow-on investments from the Open Society Foundation and FCA Investments in June 2019.

Last year, it invested in Uganda’s AMFRI Farms besides Pura Organic Agro Tech, Sausage King and Sekajja.

Vivek Sinha

error: Content is protected !!
The Capital Quest