“Allegrow” is a play on the word “Allegro” which in music means a brisk or rapid tempo and conveys the purpose of the Fund – to rapidly grow – obviously with due regard to the risks involved – the investments made into the Fund.
Allegrow is primarily a growth and operational development fund with a Namibia-only mandate. It will invest in Namibian companies which have the potential to grow rapidly and will provide them with the capital and management support needed to unlock their full potential.
Allegrow therefore has three primary objectives:
To provide superior returns to its investors and thereby contribute to the wealth creation of Namibia’s citizens
To play a part in the upliftment of Namibia’s economy through its role in improving and growing companies in which it invests
To train Namibians, help localise the private equity industry, stem unnecessary outflow of capital and positively impact the local economy
Allegrow Fund (Pty) Ltd is a private company registered as a Special Purpose Vehicle with Namfisa in terms of the Pension Fund Regulation 29. It has raised N$460 million from 19 Namibian and has a term of 10 years.