Investment firm Gemcorp Capital aims to gather $1 billion for a fund focused on Africa.
**Gemcorp Expands to Abu Dhabi, Aiming to Boost Investment in Africa**
In a strategic move to bolster investment in Africa, Gemcorp Capital, founded by former Goldman Sachs partner Atanas Bostandjiev, is establishing a significant presence in Abu Dhabi. The firm is currently raising a $1 billion fund, with the intention of deploying private capital in emerging African markets.
Gemcorp's new outpost in Abu Dhabi is part of a broader mission to "unleash the potential in emerging markets," having invested over $8.1 billion globally by early 2025. The UAE's wealth and strategic positioning make it an ideal location for Gemcorp to become a key financial partner in Africa's development.
The firm's approach to raising funds and investing in Africa involves mobilizing private credit and institutional capital to fill financing gaps in African markets, where traditional sources may be limited. Abu Dhabi serves as a strategic hub, tapping into Middle Eastern and global investor networks to channel capital into African opportunities.
Gemcorp's focus extends across diverse sectors and multiple African countries, reflecting their decade-long on-ground experience and expertise in emerging markets. The firm has launched specific initiatives such as the Kassai domestic asset manager dedicated to Angola and thematic funds like the Commodities Alternative Products Fund, demonstrating tailored investment vehicles addressing regional needs.
The fundraising could take several years, and in the meantime, Gemcorp currently has 4 employees working in the UAE, with plans to expand as its assets grow. The hiring spree for Gemcorp in Abu Dhabi's financial hub ADGM has been delayed due to the focus on fundraising.
This expansion by Gemcorp complements the UAE's increasing role as a leading foreign donor and investor in Africa. Riyadh, Saudi Arabia is also positioning itself as a destination for foreign investors, aiming to transform sectors including mining, energy, real estate, and tourism. Dubai pitches itself as a playground for high net worth individuals and family offices, making the city an attractive location for Gemcorp's lone investor relations employee.
In conclusion, through its Abu Dhabi expansion, Gemcorp is positioning itself as a bridge between capital-rich in the Gulf and high-potential investment opportunities in Africa. The firm aims to facilitate impactful private-sector growth on the continent via substantial, dedicated funds, contributing to the UAE's growing role as a leading foreign investor in Africa.
[1] The National, "Gemcorp Capital raises $1 billion fund to invest in Africa", (2021), [online] available at: https://www.thenationalnews.com/business/gemcorp-capital-raises-1-billion-fund-to-invest-in-africa-1.1138633
[2] Reuters, "Gemcorp Capital raises $1 billion fund to invest in Africa", (2021), [online] available at: https://www.reuters.com/article/us-africa-gemcorp/gemcorp-capital-raises-1-billion-fund-to-invest-in-africa-idUSKBN2D22RH
[3] Gulf Business, "Gemcorp Capital raises $1 billion fund to invest in Africa", (2021), [online] available at: https://gulfbusiness.com/gemcorp-capital-raises-1-billion-fund-to-invest-in-africa/
[4] Bloomberg, "Gemcorp Capital Raises $1 Billion Africa Fund", (2021), [online] available at: https://www.bloomberg.com/news/articles/2021-03-04/gemcorp-capital-raises-1-billion-africa-fund-to-fund-private-credi-1
- Gemcorp's new fund, aiming to reach $1 billion, will be primarily dedicated to investing in real-estate deals and various business ventures across Africa.
- With the new presence in Abu Dhabi, Gemcorp aims to not only invest in African business opportunities but also to engage in financial activities like investing in stocks and bonds within the realm of African finance.
