Dentons advises PIDG, Oikocredit and FMO on US$26 million Series B investment in East Africa Foods

London-Dentons has advised PIDG, Oikocredit and FMO, the Dutch entrepreneurial development bank, on their investment in East Africa Foods (EAF) as part of its US$26 million Series B equity financing.

The investment was led by the Private Infrastructure Development Group (PIDG), through its equity investment solution InfraCo, alongside Oikocredit and FMO, with existing shareholders ARAF, Goodwell, Africa Eats and FINCA also reinvesting. The Series B forms part of a broader capital raise of approximately US$40 million, which also includes debt funding from The Schmidt Family Foundation.

EAF is an agritech platform focused on strengthening Africa's physical and digital food supply chain infrastructure. The company currently sources directly from more than 28,000 registered smallholder farmers and aggregates, grades, stores, processes and distributes produce to more than 10,000 urban retailers.

The new investment will support EAF's next phase of growth, including expanding its processing, storage and logistics capacity, developing the digital platform underpinning its operations and supporting its expansion into new markets. EAF aims to reach 100,000 smallholder farmers over the coming years while reducing food waste across its network.

The transaction demonstrates Dentons' experience advising international development finance and impact investors on complex cross-border venture and growth capital investments, bringing together UK transactional expertise with investments focused on high-growth markets in Africa.

Joseph Collingwood, Corporate partner at Dentons, said: "We are delighted to have advised PIDG, Oikocredit and FMO on this significant investment in East Africa Foods. The transaction brings together experienced impact investors to support the growth of an innovative business tackling a fundamental challenge in Africa's food supply chain. It is also a great example of the cross-border venture and growth capital work our UK Corporate team is undertaking, particularly where investment can deliver both strong commercial outcomes and meaningful development impact."

The Dentons team was led by UK Corporate partner Joseph Collingwood, working alongside Corporate partner Nigel Webber, counsel Diana Mennie and associate Daniel Glantz.

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