DOB Equity has quadrupled its exposure with investments in the energy, agriculture, education, retail and distribution sectors
DOB Equity, a Dutch family-backed impact investor in East Africa, has been recognized as one of the leading impact investment firms for East Africa.
The award that was given at the occasion of the 5th anniversary of the East Africa Venture Capital Association (EAVCA) came at the time that DOB equity just closed a number of investments in the agricultural sector.
In early 2016, DOB invested in Twiga Foods, for which it also received the Small Cap Deal Award during EAVCA’s ceremonial gala event.
DOB Equity started investing in the region in 2010, and opened offices in Dar es Salaam and Nairobi in 2015, next to its office in the Netherlands. Ever since, the firm has quadrupled its exposure in the region, with investments in the energy, agriculture, education, retail and distribution sectors.
The awards were received by DOBs Investment Director, Saskia van der Mast, a seasoned investor in the East African region who has been with DOB for over 15 years and who was recently promoted.
He said, “These awards are a recognition for all the people we work with, the founders and management teams of our portfolio companies and all advisors who supported DOB Equity’s growth in the region. DOBs mission is to provide opportunity to the less advantaged and this award recognizes that we are on the right track”.
Brigit van Dijk – van de Reijt, CEO of DOB Equity, noted that DOB Equity has followed a remarkable growth path over the last years. “Adhering to DOBs social impact mission we have been able to team up with ambitious entrepreneurs from all over the region, with DOB now having investments in all 5 countries.”
He added, “These awards are very encouraging. We congratulate all other impact investors with their remarkable achievements and look forward to working together in the future. These awards are very encouraging. We congratulate all other impact investors with their remarkable achievements and look forward to working together in the future.”
“The East Africa Private Equity and Venture Capital Association (EAVCA) has played an important role in building and enabling an investment climate in the region. We are proud to be a member of EAVCA and encourage them to continue their good work.”
Esther Ndeti the CEO of EAVCA noted, “We congratulate DOB Equity on winning the two awards. DOB is substantially contributing in setting the scene for impact investing in East Africa and has been instrumental in helping EAVCA play an advocate role for PE and VC, not only in Kenya but in the wider East African region. DOB Equity for instance, has been one of our anchors and co-host in setting the scene for PE and VC in Tanzania, for which we are very grateful.”
Last month, invested in Coconut Holdings Limited, producer and owner of the Kentaste range of coconut-based products, to help it capitalize on the fast-growing demand for health conscious coconut products.
The investment in Coconut Holdings adds to DOB Equity’s health conscious agri portfolio, following their recent investment in Ten Senses Africa, the organic macadamia nut producer and processing company.
Coconut Holdings owns and operates two coconut processing facilities on Kenya’s coast and is the largest producer of coconut oil, milk and cream in Kenya. It targets both the food and personal care market.
The business purchases coconuts from small-holder farmers of which 1500 are organic and fair trade certified, and sells its products through the Kentaste brand. The investment will allow the company to expand its processing facilities, launch new products and further develop its sales across the wider East Africa region.
The Kenyan Government has acknowledged the potential of the coconut farming and processing sector as a ‘sleeping giant’ of the economy. It estimates that it could potentially add over KES 25 billion to the national economy annually.
As a result, the Government has looked to revitalize the coastal coconut industry by working with farmers to plant more coconut seedlings in order to improve local livelihoods and boost economic development.
DOB Equity adds that coconut farming and processing has a significant social impact. It provides small-holder coastal farmers with additional income, increases employment throughout the value chain from harvesting to processing and produces nutritious and healthy products for consumers.
Brigit van Dijk – van de Reijt, CEO of DOB Equity, noted that as the largest coconut processor in Kenya, Kentaste is well-positioned to benefit from the fast-growth demand for healthy products.
“Coconut processing is a zero-waste business, and along with the substantial social impact it has on farmers, the investment fits perfectly in DOB Equity’s portfolio.”