Oasis Capital Ghana, the West Africa-focused growth and venture capital fund manager, has reached the first close of Oasis Africa Fund II at $33.3 million, making it the largest local Ghanaian fund yet. The Accra and Abidjan-based firm hopes to reach a final close of $120 million by the end of June 2025.
Oasis Africa Fund II focus
The fund will back about 16 SMEs in West Africa with a particular focus on Ghana and Cote d’Ivoire. This implies the average ticket size will be 6.25 million. The fund is sector-agnostic with a strategic focus on healthcare, manufacturing, financial services, food services, housing and hospitality, private education and tech-enabled businesses.
Oasis Capital integrates environmental, social, and governance considerations into its investment decisions. This commitment extends to a focus on gender lens investing, actively seeking opportunities to promote gender equality and empower women-led businesses.
The fund’s investors
The inaugural investor base are local development finance institutions and pension firms 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.
Oasis Capital successes
The latest milestone builds on the excellent track record of backing 21 businesses across various sectors in Ghana and Côte d’Ivoire through the $11 million Ebankese Venture Fund and the $50.5 million Oasis Africa Fund I.
Some of its marquee businesses in Ghana include Legacy Girls College, Everpure Ghana Water, SINEL Specialist Hospital, and Metropolitan Health. In Côte d’Ivoire it invested in MANSA Bank, and PISAM Hospital. This track record exhibits Oasis Capital’s ability to identify, nurture and grow category-defining businesses.
