Fidelity Equity Fund I ("FEFI") is a USD 8.5 million generalist fund. The fund which was closed in October 2004 is fully invested in 10 portfolio companies in Ghana and Liberia in a wide range of sectors including Financial Services, Education, Consumer Services, Food Processing, Construction, Agro-processing, Cargo Barging and ICT
The investors in the Fund include FMO, SIFEM, ROVALUE CAPITAL AFRICA and FIDELITY BANK. FEFI has fully exited from 6 portfolio companies and returned approximately 85% of the committed capital to the LPs of the Fund
The Fund has also achieved partial exits in the remaining 4 companies and expects to complete full exits from the remaining companies by the end of 2014. The Fund's investments range from USD 0.5 million to USD 1.5 million, with an average transaction size of USD 0.7 million (through multiple rounds of investment).
