Oasis Capital Ghana, a leading growth capital fund manager focused on West Africa, today announced the successful first close of its US$100 million Oasis Africa Fund II (OAF II). The fund has secured US$33.3 million in capital commitments and expects to raise the remainder by the end of June 2025.
This latest fund builds on the established impactful track record of Oasis Capital Ghana. The firm's initial venture, the Ebankese Venture Fund (EVF), was a US$11 million fund dedicated to supporting Small and Medium Enterprises (SMEs) in Ghana. Following that success, Oasis Africa Fund I (OAF I) raised US$50.5 million and invested in SMEs across Ghana and Cote d'Ivoire. Both EVF and OAF I have been fully invested, deploying capital to a total of 21 businesses across various sectors.
In Ghana, some of the businesses that have benefited from Oasis Capital include Legacy Girls College, Everpure Ghana Water, SINEL Specialist Hospital, and Metropolitan Health. Meanwhile, in Cote d’Ivoire MANSA Bank, and PISAM Hospital have also received support from Oasis Capital. This proven ability to identify and nurture high-potential companies positions Oasis Capital Ghana as a trusted partner for investors seeking to contribute to West Africa's economic growth.
Investing in the Future: Fueling the Growth of Essential Services for a Thriving Middle-Class
OAF II will continue the impact-driven investment strategy established by its predecessor funds. The fund targets SMEs in West Africa, with a particular focus on Ghana and Cote d'Ivoire. These SMEs operate in sectors critical to the development of a strong middle class, such as education, healthcare, finance, housing & hospitality, and food services. By targeting businesses with innovative and scalable models, OAF II aims to not only deliver financial returns but also contribute to a more vibrant and inclusive West African economy.
While financial performance is important, OAF II prioritizes measurable social and developmental impacts alongside financial returns.
“As the fund manager, Oasis Capital integrates environmental, social, and governance (ESG) considerations into its investment decisions,” Matthew Boadu Adjei, CEO of Oasis Capital Ghana LTD said in a statement.
“This commitment extends to a focus on gender lens investing, actively seeking opportunities to promote gender equality and empower women-led businesses,” he added.
The success of OAF II is fueled by a distinguished group of investors who share Oasis Capital Ghana's vision for West Africa's future.
For his part, Michael Mensah-Baah, the Deputy Managing Director of Development Bank Ghana, one of the OAF II investors, said “The OAF II aligns its investments with the United Nations’ Sustainable Development Goals (SDGs) including No Poverty, Good Health and Well-being, Quality Education, Gender Equality, Clean Water and Sanitation, and Life on Land.”
“This formed part of the fund’s attractiveness to include in our investment portfolio and provide targeted support to the SMEs in Ghana and Cote d’Ivoire,” he added.
The investor base includes prominent names such as Development Bank Ghana, Venture Capital Trust Fund, GCB Capital, Stanbic Investment Management Services, ENO International, Investcorp Asset Management, CAL Asset Management, PETRA Advantage, PETRA Opportunity, Data Bank Asset Management, Standard Pensions Trust, and Oasis Capital Ghana itself. Leading the fund is a team with over 70 years of combined experience in private equity, investment banking, and operations, both in Africa and globally. This blend of experience and strategic partnerships positions OAF II for exceptional performance.