Growth equity and venture capital fund manager Oasis Capital Ghana has reached a first close for its second fund, Oasis Africa VC Fund (OAF), with US$27 million in capital commitments. Development finance institutions Dutch Good Growth Fund and International Finance Corporation have invested US$5 million and US$7 million, respectively, with the remaining US$15 million committed by five Ghanaian institutions and individuals. The fund plans to invest in small and medium-sized enterprises in Ghana and Côte d’Ivoire that provide essential services, including education, financial services, housing, health care, food services and hospitality. Oasis Capital Ghana is seeking to raise US$50 million by end of June 2017 with a hard cap of US$70 million.