The sustainable forestry wood provider will use the funding to expand further into East Africa and bolster its wood manufacturing resources.
Axa Impact Fund, a vehicle representing insurance group Axa’s Investment Managers subsidiary, led a $28m first close for Kenya-based sustainable forestry operator Komaza’s series B round yesterday.
The round included venture capital firm Novastar Ventures, development bank FMO and impact asset manager Mirova’s Land Degradation Neutrality Fund.
Komaza oversees a forestry business that concentrates on small-scale growers, for which it provides training, harvesting services and planting inputs. It is targeting the industrial wood market and has planted some 2 million…
