Private equity firm Eos Capital has announced the launch of its third fund – the Euphrates Agriculture Fund.
The fund’s target is to raise N$500 million by March 2021.
The Euphrates Fund according to the company aims to bring about an Agriculture Renaissance in Namibia and its mission will be to facilitate the industrialization of the agriculture sector, deliver social impact and provide medium term returns to investors.
The fund will make equity and quasi-equity investments into unlisted vehicles and target sectors will include agro-processing, distribution and logistics, commercial agriculture, retail, biomass, and manufacturing of chemicals, fertilizers, seeds, animal products and equipment.
The fund will also invest in agriculture projects with emphasis on economic growth, social upliftment, and job creation.
“Eos Capital’s strategy and decision for launching the Euphrates Agriculture fund is to address the challenges faced by the agriculture sector in Namibia, and to focus on boosting its productivity and sustainability by means of an unlisted manager solution.”
Nicole Maske, Managing Partner of Eos Capital said, “Eos Capital’s mission is to contribute to the growth of the Namibian economy and the Agri fund will take us a step further on this mission. It will be attractive to investors seeking diversification and investing into real assets that provide a hedge against inflation.”
“Agriculture is a diverse asset with a broad range of risk/return profiles and characteristics, offering options and diversification. Euphrates will serve as a catalyst to industrialization by pursuing quality assets at attractive prices, seeking to maximize returns over the long term.”
Mesag Mulunga, who attended on behalf of Percy Misika, Executive Director of the Ministry of Agriculture, Water and Land Reform, congratulated the fund on the launch.
“The launch of this Euphrates Agri Fund comes at an opportune time, when public and private sector need to integrate and coordinate efforts in the promotion of investment in the agriculture sector,” he said.