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AgDevCo, a social impact investor in the African agriculture sector, has announced a multi-million dollar mezzanine debt investment in Victory Farms, a fast-growing aquaculture company in Kenya. AgDevCo’s investment will help the company continue to grow and impact, including the construction of a feed mill and expansion into additional East African countries.
Victory Farms is a vertically integrated company with its own hatchery, nursery ponds, deep-water cages in Lake Victoria and a processing plant, and a distribution network of 45 wholly-owned retail stores. Its direct customers are several thousand market women who buy fish in small batches from Victory Farms’ outlets before cooking and selling them in local food markets.