Scalable Enterprises- funds portfolio 2020

InvestmentCountryInvestment yearSectorInstrumentOwner shareDomicileCommitted (MNOK)
Helios IVAfrica2021Investment fundsFunds0%Guernsey220.5
Vantage Mezzanine Fund IV – USDAfrica2021Investment fundsFunds0%South Africa211.7
Meridiam Africa Fund IIAfrica2021Investment fundsFunds0%France199.8
Vietnam Investments Fund IVVietnam2021Investment fundsFunds0%Cayman Islands132.3
African Rivers Fund IIIAfrica2021Investment fundsFunds0%Mauritius132.2
AFMF: ASEAN Frontier Markets FundAsia & Pacific2021Investment fundsFunds0%88.2
Vantage Mezzanine Fund IV – ZARAfrica2021Investment fundsFunds0%South Africa49.8
ACI Motors LtdBangladesh2021Manufacture of motor vehicles trailers and semi-trailersEquity5%Netherlands41.0
AfricInvest Fund IVAfrica2020Investment fundsFunds10%Mauritius262.6
Navis CLMVAsia & Pacific2020Investment fundsFunds17%Cayman Islands216.8
CASEIF IVAmerica2020Investment fundsFunds26%Canada176.3
Excelsior VietnamVietnam2020Investment fundsFunds19%Singapore131.7
Openspace Ventures IIIAsia & Pacific2020Investment fundsFunds8%Cayman Islands131.6
Ascent Rift Valley Fund IIAfrica2020Investment fundsFunds12%Mauritius87.9
Novastar Ventures Africa Fund IIAfrica2020Investment fundsFunds7%Mauritius71.1
Solon Capital HoldingsAfrica2020Investment fundsFunds30%Mauritius35.0
Antler East Africa Fund IAfrica2020Investment fundsFunds20%Cayman Islands13.2
Development Partners International IIIAfrica2019Investment fundsFunds4%Guernsey355.4
Verod Capital Growth Fund IIIAfrica2019Investment fundsFunds10%Mauritius178.0
Frontiir Co. Ltd.Myanmar2019Information service activitiesEquity2%British Virgin Islands26.9
ECP Africa Fund IVAfrica2018Investment fundsFunds8%Mauritius242.3
Cepheus Growth Capital FundEthiopia2018Investment fundsFunds18%Mauritius135.3
Myanmar Opportunities Fund IIMyanmar2018Investment fundsFunds14%Cayman Islands72.8
EcoEnterprises Partners III LPAmerica2018Investment fundsFunds5%Ireland54.5
Nordic Horn of Africa Opportunities FundSomalia2018Investment fundsFunds11%Canada34.3
Agri-Vie IIAfrica2017Investment fundsFunds11%Mauritius130.4
Fanisi Capital Fund IIAfrica2017Investment fundsFunds35%Mauritius109.0
Spear Africa Holding IIAfrica2017ManufacturingFunds21%Mauritius66.7
Oasis Africa FundAfrica2017Investment fundsFunds10%Ghana42.7
Fanisi Management IIAfrica2017Investment fundsLoans Equity25%Mauritius22.1
FIPA IIAfrica2016Investment fundsFunds38%Luxembourg156.7
Frontier Fund IIBangladesh2016Investment fundsFunds10%Cayman Islands29.4
GroFin SGB Fund Limited PartnershipAfrica2015Investment fundsFunds19%Mauritius125.6
Cambodia Laos Myanmar Development Fund IIAsia & Pacific2015Investment fundsFunds16%Singapore93.3
BPI East Africa LLCAfrica2015Investment fundsFunds17%Mauritius51.1
CASEIF IIIAmerica2014Investment fundsFunds24%Canada80.9
Ascent Rift Valley Fund LtdAfrica2013Investment fundsFunds13%Mauritius84.4
Novastar Ventures East Africa FundAfrica2013Investment fundsFunds13%Mauritius83.1
CORECOAmerica2012Other financial servicesFunds22%Delaware75.0
Kinyeti Capital LtdSouth Sudan2012Other financial servicesLoans Equity50%South Sudan35.4
Africa Health Fund (Aureos)Africa2011Investment fundsFunds9%South Africa44.5
Voxtra East Africa Agribusiness IniAfrica2011Agriculture forestry and fishingFunds30%Norway31.7
Vantage Mezzanine Fund IIAfrica2011Investment fundsFunds5%South Africa23.1
Frontier FundBangladesh2010Investment fundsFunds11%Cayman Islands49.5
Neoma South-East Asia Fund IIRegional2010Investment fundsFunds2%Canada27.2
Agri-VieAfrica2010Agriculture forestry and fishingFunds9%South Africa22.7

About Norfund’s investments in scalable enterprises