"The African Agricultural Capital Fund, managed by Pearl Capital Partners, primarily invests in small- and medium-sized agricultural enterprises to improve the livelihoods of smallholder farmers in East Africa.

This case study gives an overview of the fund, describes its capital structure, its primary impact governance mechanisms, and the stakeholders’ key risk mitigation strategies. To provide additional insight into the motivations and decisions that shaped the impact investment, interviews with representatives of the four investors and the fund manager are included."