Fanisi Venture Capital Fund, which targets fast-growing mid-tier businesses in the East African region, has hired a financial industry veteran to join its core leadership team.
Tony Wainaina, will now be the Fund's managing partner. He previously served as the chief executive of Centum Investment Company Ltd (then known as ICDC Investment) and Trans-Century Limited.
Fanisi managing partner and chief executive Ayisi Makatiani said that Wainaina's appointment was informed by the need to tap valuable expertise in the investment industry to realise Fanisi's overall objectives of leveraging growth in the regional economy.
"Tony has a solid resume in the financial industry with a career spanning over twenty years. He brings in valuable investment experience to our team," said Mr. Makatiani. Mr Wainaina has participated in several venture capital and private equity deals in the region.
Fanisi, a US$50 million early-stage and growth capital fund, was launched in April 2010 to invest in diverse sectors in Kenya, Uganda, Tanzania and Rwanda. It targets to invest in high-growth, mid-tier businesses with a history of profitability. It has since then made various investments in the ICT and education sectors.
In November 2010, it invested in Paystream Limited, a firm providing an IT platform for processing cash and card transactions. The same month, it invested in Elris Communication Services Limited, a company specializing in providing network implementation and management services to the telecommunications and broadcasting sectors.
In 2011, Fanisi made an entry into the education sector, by investing in Hillcrest International Schools, where it acquired a majority shareholding.