The funds

NFCP Growth Fund

The NFCP Growth Fund was established in June 2008 as a 10-year closed-end investment fund organized under the laws of Cayman, Is. The objective of the Fund is to achieve long-term capital appreciation through equity, quasi-equity, debt and structured finance investments in international joint ventures, expansion plays, start-ups, state enterprises, sovereign governments and privatizations of companies operating in East Africa.

The Fund seeks to invest in operational companies with an established track record and solid performance looking for expansion capital. However, the Fund may capitalize on other opportunities as indicated in its mandate above. Investment sizes range between $2.5 million and $25 million and target sectors include financial services, oil & gas, natural resources, telecommunications and agribusiness among others. The Fund generally takes significant minority positions in projects or companies with a total valuation of at least $5 million.

The first closing of $25 million in committed capital from investors is expected in September 2008. A second closing is expected shortly thereafter.

NFCP Infrastructure and Development Fund

The NFCP Infrastructure and Development Fund was established in June 2008 to invest in infrastructure and related industries in East Africa. The Fund will raise $50 million in commitments from investors and has a ten-year term. During its commitment period, the Fund will invest primarily through equity, quasi-equity and convertible debt instruments in numerous sectors throughout the East Africa including: Telecoms, Mining Companies, Natural Resources, Agro-Industry, Transportation, Power and Water among others.

The Fund's investments typically range in size from US$7.5 million to US$30 million, in projects or companies having total valuations of US$15 million to over US$400 million. The Fund thus takes significant minority positions, generally 15% to 50% of the company's equity, which are complemented by strong minority rights and board representation.

The Fund has partnered with world-class international and local partners who have extensive operational experience, a demonstrated track record of accomplishment in the sector, a superb business reputation and a history of financial and technical success.