Managed by Investisseurs & Partenaires (I&P), FASA is an investment initiative established to improve access to capital for African agribusinesses. Rather than financing individual businesses directly, the initiative provides catalytic capital to investment funds, which subsequently invest in eligible agricultural SMEs.

Beyond expanding agricultural financing, FASA supports emerging fund managers, strengthens investment ecosystems and promotes sustainable economic development across Africa.

Under its financing structure, eligible investment funds can receive between US$2 million and US$10 million through subordinated equity, debt or a combination of both.

The initiative also provides technical assistance, capacity-building opportunities and support to improve the operational capacity of investment funds. However, its financial contribution cannot exceed 49% of a fund’s total size.

FASA does not offer direct grants or loans to individual agricultural businesses. Instead, agricultural enterprises must seek financing through investment funds supported by the initiative.

Who Can Benefit?

The financing initiative is designed for investment fund managers and investment vehicles targeting agricultural SMEs. Eligible beneficiaries include:

• Emerging investment fund managers.
• Established investment fund managers.
• SME-focused investment funds.
• Agricultural venture capital funds.
• Growth and private equity funds.
• Debt and alternative investment funds.

Investment Eligibility Criteria

Investment funds seeking financing from FASA must operate in Africa and demonstrate a clear strategy for investing in agricultural businesses.

At least 30% of their investable capital must be allocated to African agricultural SMEs, with individual investment amounts ranging from US$15,000 to US$5 million per business.

Applicants must also demonstrate a commitment to environmental and social standards, alongside strong governance practices and established frameworks for measuring investment impact.

Priority Investment Sectors

FASA supports funds investing in agricultural businesses across several segments of the value chain.

Priority areas include agricultural production and inputs, food processing and value addition, agricultural technology, post-harvest management, agricultural trading and logistics, climate-smart agriculture, as well as agricultural services and market access.

The initiative’s investment focus covers businesses working across these areas to strengthen agricultural enterprises and support the wider agribusiness ecosystem.

Geographic Coverage

FASA operates across Africa, supporting investment funds that finance agricultural SMEs in both North Africa and Sub-Saharan Africa.

How Agricultural SMEs Can Access Funding

Agricultural SMEs cannot submit direct funding applications to FASA because its financing is channelled through investment funds.

Businesses seeking capital can explore the investment funds participating in the initiative and identify those whose investment strategies match their operations, sector and financing requirements.

This provides agricultural enterprises with an indirect route to access investment through funds backed by FASA.

How to Find Out More

Interested investment fund managers and agricultural businesses can visit the official FASA website to learn more about its financing structure, investment eligibility criteria and participating funds.

Official website: FASA Fund

Source: FASA Fund.