African agribusiness-focused private equity fund manager Zebu Investment Partners has reached a first close for the Africa Food Security Fund with US$84 million in capital commitments. Investors in the fund include South Africa-based Public Investment Corporation, investment manager Kuramo Capital Management and development finance institutions AfDB, CDC, DGGF, IFU and EBID. The fund, which is targeting US$100 million in total commitments, will invest in small and medium-sized enterprises operating across the agricultural value chain in Sub-Saharan Africa.