(Ecofin Agency) - Truestone Impact Investment Management, a British fund manager operating in Subsaharan Africa, plans to launch Mano River Transition Fund aimed at investing between $500 thousand and $5 million in SMEs in Sierra Leone and Liberia.
Overall, the fund plans to invest $50 million in those SMEs. “The qualifying companies that we have identified for follow-on investment are cash flow positive and poised for scaling,” said Jack Ovens, lead analyst at Truestone.
Truestone Impact Investment Management has already raised close to $100 million from institutional investors such as the Dutch development bank FMO and the Catholic Organization for Relief and Development Aid (Cordaid). These resources were invested in twenty countries in East and West Africa.