Kuramo Capital Selected as Manager for 2X Ignite Africa Warehousing Facility

November 7th, 2023

2X Global is delighted to announce the selection of Kuramo Capital Management LLC (“Kuramo”) as the manager for the 2X Ignite Africa Investment Facility for Warehousing Capital (“2XI Africa Warehousing Facility” or the “Facility”).

The 2XI Africa Warehousing Facility is one of the strategic initiatives created by 2X Global to support female-led/gender-balanced fund managers with gender lens investing strategies in Africa in their fundraising. The Facility will provide portfolio building capital to eligible fund managers to utilise in warehousing deals and enable them to build a track record while fundraising, thereby improving their chances for a successful fundraise.

Kuramo is a leading sub-Saharan Africa-focused investment management firm with a diversified platform that includes investments in primary funds, direct/co-investments, and managed solutions. Over the last decade, the firm has championed the growth and expansion of the private investments landscape in sub-Saharan Africa (SSA) by catalysing commercial capital to first-time sub-Saharan Africa funds and investing in exciting and innovative growth opportunities. To date, Kuramo has catalysed over $3 billion to SSA firms that have tremendous positive impact on the local communities.

With women-led funds and businesses experiencing significant challenges, especially with access to critical funding sources, Kuramo is bringing its pioneering spirit and expertise to addressing gender equality in Africa’s private equity and venture capital landscape.

Jessica Espinoza, CEO of 2X Global said: “We are excited to partner with Kuramo on the 2X Ignite Africa facility, building on their legacy to address financing asymmetries on the African continent. We are confident our much needed and innovative 2X Ignite mandate, getting female- and diverse-led fund managers investing with a gender lens to a first close faster, will be in very capable and experienced hands with the Kuramo team and we are thrilled to be working alongside them on this joint journey.”

Investment Director of the 2XI Africa Warehousing Facility at Kuramo, Nike Ogunjimi added: “It is such an exciting time in the gender lens investing space, and we look forward to being a part of the positive shift that the Facility will bring to the investing landscape in Africa”.

Wale Adeosun, Kuramo Capital Founder & CEO, said they looked forward to helping remove one of the barriers facing women and gender diverse fund managers, stating: "We are thrilled to be given the opportunity to be a part of the solution to one of the key bottlenecks that female/gender-smart fund managers face in their fundraising journey. First-time female fund managers are typically expected to show a track record of successful deals to secure funding from prospective LPs – this results in a vicious cycle because they are unable to obtain the funds required to secure the deals that create the track record they need to demonstrate. The 2XI Africa Warehousing Facility will solve this 2 of 2 problem for a number of funds and we are positive that this will result in more female fund managers with gender-smart investing strategies emerging across the continent.

We are very excited to be partnering with 2X Global on this ground-breaking initiative which will promote inclusive economic empowerment across Africa by capturing the opportunity from 50% of our population through women-led businesses and women-led funds."