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28 February 2022

Charles Russell Speechlys advises AgDevCo on $70m of DFI Funding

Charles Russell Speechlys has advised AgDevCo, a specialist impact investor in African agribusinesses on its recent $70m equity funding from the CDC Group, and Norfund which will allow AgDevCo to continue to grow its investment activities in agriculture across Sub-Saharan Africa.

Since its establishment in 2009, AgDevCo’s main aim has been to grow sustainable and impactful agribusiness that benefits people and the planet.  It does this by supporting its partners and investee companies in working towards sustainable, and where possible, regenerative solutions across the entire agriculture value chain. AgDevCo provides not only investment capital but also practical, day-to-day commercial and agronomic advice. This funding raising is a milestone event in the development of AgDevCo’s mission.

Daniel Hulls, AgDevCo’s CEO, said: “We are delighted to have secured this sizeable investment from CDC, Norfund and DFC. This funding will support AgDevCo’s ability to continue making impactful investments in African agriculture. We would like to thank the CRS team for their hard work, expert guidance and advice throughout this process.”

Partner Adrian Mayer commented “We are delighted to have assisted AgDevCo on this landmark investment. It has been a privilege to work alongside and advise the very talented and ambitious team at AgDevCo, and we wish AgDevCo all the best in the next stage of its journey. The transaction highlights our experience and expertise in impact investing (and private equity more broadly) and of course, demonstrates the skillset of our Africa practice across the firm.”

The Charles Russell Speechlys team was led by Adrian Mayer (Partner and Head of Africa) and Matthew Hobbs (Senior Associate, Corporate), and others including Paul Stone (Partner, Regulatory), Jessica Arrol Caws (Senior Associate, Financial Services), Sophie Clark and Harriet Lucas (both Corporate) and Robert Birchall (Partner, Tax).

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