Catalyst II (IFC-38648)

Countries
  • Congo, Democratic Republic of
  • Ethiopia
  • Kenya
  • Rwanda
  • Tanzania
  • Uganda
  • Zambia
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 15, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
CATALYST FUND II, LLC
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 15.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 8, 2018

Disclosed by Bank Oct 24, 2016


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Project Description

According to IFC website, Catalyst Fund II, LLC is an Eastern Africa-focused private equity fund with priority sectors that focus on consumer demand opportunities underpinned by strong fundamentals. The Fund is seeking to raise up to US$200 million in third party commitments to make 8-12 mid-market growth capital investments. The Fund has consistent strategy, geography and investment theses as the predecessor fund. The Fund will be managed by Catalyst Principal Partners, a team with Eastern Africa-focused investment experience and demonstrable proprietary pipeline and local networks. The project is expected to have a high development impact in the following areas:

1. The growth of the Fund's portfolio companies is expected to result in strong job creation;

2. The Fund will invest 100% in companies located in IDA countries; and

3. Private sector development by enhancing regional intergration via supporting companies to expand across borders.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

The Fund Manager is Catalyst Principal Partners, a private Eastern Africa focused fund manager led by former Actis, Goldman Sachs and Diageo professionals based in Nairobi, Kenya. The leadership team has over 75 combined years of investment and advisory experience, and is leaning on lessons learned from their first fund to raise a successor fund with a strategy consistent to Fund I, focusing on the same sectors and geographies. Paul Kavuma has over 20 years PE and management consulting experience, and is the former head of East Africa PE at Actis and ex-Associate Director for SSA at HSBC Investment Bank. Biniam Yohannes has 15 years of PE and investment banking experience covering emerging markets, and is an ex-VP at Goldman Sachs. Rajal Upadhyaya has 15 years of business development, operations, corporate finance and management consulting experience, and was previously a director of business development for Diageo Africa, and consultant at Marakon Associates and PWC. The team will commit 1% of committed capital.

Contact Information

No contact information provided at the time of disclosure. 

ACCOUNTABILITY MECHANISM OF IFC

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