This investment represents a follow-on investment in an existing FMO investee. Since converting into a Permanent Capital Vehicle, Maris has grown its portfolio well, and exhibited stable financial performance amid tough macroeconomic conditions in many of its markets. The Company is now embarking on a capital raise which will allow it to continue its upward trajectory both in terms of financial performance as well as impact given the Company’s exposure is in Least Developed Countries (LDCs). The Company is seeking a total amount of USD50-60m in its capital raise, which will be used to make new investments as well as invest in expansion of some existing portfolio companies. FMO will invest up to a 19% shareholding in the Company following the capital raise.
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