Charles Russell Speechlys advises AgDevCo on its multi-million investment into Flow Equity
Charles Russell Speechlys has advised longstanding client AgDevCo, a specialist impact investor in African agribusinesses, on its recent participation in a $14 million funding round in Flow Equity.
Flow Equity, operating mainly in Ethiopia, but also in Rwanda and Uganda is a rapidly growing, high-impact and profitable poultry business targeting underserved rural households, and has raised a combined $14 million funding round with participation from AgDevCo, AHL Venture Partners, Acumen Resilient Agriculture Fund and the Bill & Melinda Gates Foundation. This investment will be used to expand operations in five new African markets with major benefits for smallholder farmers and local communities.
AgDevCo invests debt and equity in African agribusinesses to create jobs, improve food security, and boost prosperity. Charles Russell Speechlys has advised AgDevCo on a number of investments which aim to deliver positive impact at scale across the agri sector, and this latest round demonstrates the support AgDevCo provides to assist businesses scaling up operations and is part of AgDevCo’s strategy and long-term vision.
Melissa Manzo, General Counsel at AgDevCo comments: “We are thankful for the advice and guidance again from the team at Charles Russell Speechlys with Flow Equity. This is an exciting investment for AgDevCo and the experience and support from Adrian and others at the firm is valued and appreciated by the entire team here at AgDevCo.”
Adrian Mayer, Partner, comments: “It was a pleasure to have assisted AgDevCo on this latest investment round. AgDevCo’s investments offer a way of leveraging private capital into socially responsible farming and agri-processing businesses in Africa. Our experience in this sector and in Africa, coupled with our expertise in private equity means we are able to assist AgDevCo in a meaningful way as it deploys on its strategy across Africa.”
The Charles Russell Speechlys team was led by Partner and Head of Africa, Adrian Mayer, with support from Matthew Hobbs, Senior Associate and Grace Hudson, Associate.
