Dutch impact fund Veris validates its investment strategy with the sale of Ethiopian company Senselet to PepsiCo
The impact fund Veris Investments recently sold its majority shareholding in Ethiopian crisps producer Senselet Food Processing Plc to PepsiCo. Veris Investments indicated that its investment strategy is focused on “helping create local, long-term businesses before handing them over to investors or manufacturers.”
10/01/2020 at 08h13, by Pierre-Olivier Rouaud
Based in Amsterdam, Veris Investments was created in 2013 by Michiel Botman and Juliette de Wijkerslooth, both former employees at Dutch development bank FMO. Specialising in agribusiness, Veris makes equity and mezzanine investments. It targets tickets from €1m to €12m ($1.1m to $13.3m) in African manufacturing start-ups and gets highly involved in the business models and development of its targets. In addition to Senselet, in 2018 the fund co-invested in, alongside Dutch dairy giant FrieslandCampina, Holland Dairy, a pasteurised milk and yoghurt producer based near Addis Ababa, to expand its manufacturing capacity and quality processes.