AgDevCo Ventures Raises USD 49 M To Back East African Agri-SMEs

AgDevCo Ventures, the early-stage investment vehicle of UK-backed development finance group AgDevCo, has reached a USD 49 M first close to invest USD 1 M-USD 3 M in farming and agri-processing SMEs across East Africa.

The vehicle is led by Christine Mwangi, who has spent six years with AgDevCo’s East African team in Nairobi. The fund brings together USD 28 M in equity from AgDevCo using FCDO funds, USD 10 M in subordinated debt from IFAD and USD 11.25 M from senior lenders led by the Isenberg Family Charitable Foundation, with Small Foundation, A to Z Impact, Rabo Foundation and Netri Fundación Privada also participating.

AgDevCo, founded in 2009 and headquartered in London, invests in African agribusinesses. AgDevCo Ventures expects its first investments later in 2026 and targets benefits for 128,000+ smallholder farmers and 2,900 jobs over a decade.