Kenyan venture capital fund, Fanisi Capital, has won Portfolio Company of the Year for Social Impact in one of its investee companies, Haltons Pharmacy.
The firm, which manages a $50 million venture capital fund, was feted at the recently held 2016 Private Equity Africa (PEA) Awards held in London.
In its fifth year, the Private Equity Africa Awards is run by Private Equity Africa, a UK-based financial media and events company.
It celebrates the achievements of Investors and Advisors active on the African continent. Award winners are selected by an independent panel of judges chaired by Gail Mwamba, Editor, Private Equity Africa and recommendations by a nomination team from the London Business School’s Institute of Private Equity.
The 2016 Awards attracted over 80 entries, complemented by recommendations from the PEA editorial team and industry data.
Commenting on the award, Fanisi’s Managing Partner, Ayisi Makatiani said: “We are humbled by this recognition among our peers on the biggest stage on the continent. This is validation of our competencies in deal selection and overall decision-making. But most importantly, it shows that our investments are hinged not just on sound business credentials, but social impact. It is a celebration and an assurance to our investors and partners of the expertise and thought leadership resident within the team, for which we are immensely proud,” said.
Haltons Pharmacy is a retail pharmacy chain in which Fanisi has invested $5 million since 2013.
Its social impact has been seen in raising awareness about lifestyle diseases, which have become prevalent in Kenya as urbanization takes root. The firm has also empowered its front-facing staff, normally pharmacists, to go beyond their core duty of dispensing drugs into basic diagnosis, an important intervention in a country where the doctor deficit is about 20,000.
Some of its active social programs include in-store subsidized or free sugar and blood pressure tests; diabetes and hypertension diagnosis; medical camps; cancer awareness and healthy eating and living campaigns.