Cepheus Growth Capital Partners raises $51m

The Ethiopia-based private equity firm is halfway towards closing its debut fund.

Cepheus Growth Capital Partners’ maiden fund, Cepheus Growth Capital Fund, has held a first close at $51 million. The firm is looking to raise $100 million to invest in Ethiopia’s manufacturing, consumer goods, agriculture and agro-processing sectors.

The fund’s investor base includes CDC Group, which committed $15 million, the European Investment Bank, with a commitment to $10 million, and Norfund.