PORT LOUIS, MAURITIUS 18th MAY 2021—African private equity fund manager Ascent today announced the first rolling close of its Ascent Rift Valley Fund II (ARVF II) at more than USD 100 million, significantly exceeding its initial target of USD 80 million. The final close of ARVF II, with a target of USD 120 million, is expected in December 2021. ARVF II will invest equity in leading small and medium-sized enterprises (SMEs) in Eastern Africa, looking to take large minority or majority stakes. The fund will provide funding to scalable SME businesses,…