(Ecofin Agency) - In a release published on November 9, 2018, Catalyst Principal Partners, a Kenyan private equity firm announced the close of its second fund to $155 million.

Catalyst Fund II received the support of bot hits local pension fund and international investors, according to the communiqué.  80% of those investors took part in the fundraising of  Catalyst Fund I.

Catalyst Fund II will make between $7.5 million to $22.5 million investments in Kenya, Uganda, Tanzania, Ethiopia, Zambia, Rwanda and the Democratic Republic of Congo.  

"Catalyst largely focuses on emerging and mid-sized companies with strong growth and profitability prospects", said Paul Kavuma (photo), CEO Catalyst Principal Partners.

The private equity fund which mainly focuses on East Africa was funded in 2009. It has already invested in nine companies operating in consumer goods, pharmaceutical, agribusiness, logistics, engineering, health, technology, and financial sectors.