Agri-Vie, a major sub-Saharan private equity fund investing in food and agribusiness, has announced it has invested more than US$10-million into two businesses in the East African agribusiness sector.

The investments are indicative of the growing interest in the East African agricultural sector from a number of international and South African entities.

The fund invested $6.7-million in New Forests Company (NFC), a forestry and timber products group with operations in Uganda as well as Tanzania, Rwanda and Mozambique. The second investment was $3.5-million in africaJUICE, a company that is establishing fruit production and processing operations in East Africa. Its first operation is in Ethiopia growing yellow passion fruit, mango and papaya.

According to Izak Strauss, director at Agri-Vie, the fund plans to maintain its exposure to both investments for the medium to longer term.