Kenya-based private equity manager, Ascent Capital, has just raised more than $100 million in a second fund, it said on Tuesday, to invest in small and medium enterprises in East Africa.

Ascent, which was among several new private equity firms established in the past decade to take advantage of growing popularity of the asset class in the region, raised $80 million in its first round in 2015.

The second fund will target growing firms in the financial services, manufacturing, trade, education and health sectors across the region, Ascent said in a statement.

Read more/Source: Reuters