Oasis Capital

What Oasis Capital does

Oasis Capital Ghana Limited is a private equity and venture capital fund manager founded in February 2009 by Matthew Boadu Adjei in Accra, Ghana. The firm invests in small and medium-sized enterprises (SMEs) across West Africa—primarily in Ghana and Côte d'Ivoire—through two fund vehicles: the Ebankese Venture Fund (EVF), a US$11-13M fund fully deployed across 8 Ghanaian SMEs, and the Oasis Africa Fund (OAF), a US$50M target vehicle that reached a first close of US$27M in September 2016. Oasis targets SMEs providing essential services to the region's growing middle-income population, including private education, healthcare, financial services, housing and hospitality, and food services, with typical transaction sizes of US$0.5M to US$5M deployed via equity, quasi-equity, and convertible debt instruments.

The firm's business model is that of a classic PE fund manager: revenue is generated from recurring management fees on assets under management, transactional carried interest on successful exits (e.g., Mansa Bank), and Business Development Services (BDS) fees provided to investees. Oasis pairs capital deployment with hands-on BDS support—covering operations, ESG, compliance, and financial management—to improve investee business models and mitigate risk. Key limited partners include the Dutch Good Growth Fund (US$5M anchor), the International Finance Corporation (US$7M), and over US$15M from a base of 5 local Ghanaian institutions and individuals, with co-investment from the Holland-based Social Venture Capital Fund (SOVEC). The firm operates from a headquarters in East Legon, Accra and a regional office in Abidjan covering Côte d'Ivoire and Senegal, with stated ambitions to expand into Liberia and Senegal.

The investment team is led by Founder/CEO Matthew Boadu Adjei (ex-GroFin Ghana, Fidelity Capital Partners) and Executive Director Joseph Boakye Yiadom (ex-Massilly Group), supported by CFO George Kwarteng-Adjei and a coverage bench that includes professionals from Lehman Brothers, KPMG, EY, Deloitte, and Injaro Investments. Source data also references minority Oasis Capital participation in early-stage technology financings (Emobi, AeroBand, OriginFlow, Inx) dated 2025-2026; these are inconsistent with the firm's stated West African SME mandate and should be treated cautiously as potential entity-confusion or unverified data points.

Name

Oasis Capital

Legal name

Oasis Capital Ghana Limited

Website

https://oasiscapitalghana.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

Oasis Capital Ghana Limited is an Accra-based private equity fund manager founded in 2009 that invests US$0.5M-US$5M in West African SMEs across education, healthcare, financial services, housing, and food sectors, with combined AUM exceeding US$60 million.

Ownership category

akta.pro rank

Product category

Private Equity and Venture Capital Fund Management

NAICS

Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Investment Advice (6282)

akta.pro primary industry

Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE)

akta.pro secondary industries

SDG / Thematic Sustainable Investment Funds (FSANAJAN), Private Sector & Blended Finance Arms (IFC-type) (BPADACAJ)

Keywords

• Private equity investments
• Venture capital management
• SME growth capital
• Essential services investing
• West Africa private equity

Headquarters

HQ city

Accra

HQ country

Ghana

HQ region

Africa

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Fund Management Fees: Oasis Capital generates revenue through management fees charged on the funds under management. They manage over US$60 million in assets across multiple funds including the Ebankese Venture Fund and Oasis Africa Fund.
2. Carried Interest / Performance Fees: The firm earns carried interest on successful exits and returns from portfolio companies. They use multiple investment instruments including equity, preference shares, and convertible debts with ratchets for upside participation and liquidity.
3. Business Development Services: Oasis offers BDS to investee companies as part of their value proposition, combining finance and BDS to mitigate risk and improve business models.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

Oasis Capital Ghana Limited is a private equity and venture capital fund manager that invests growth capital into SMEs in Ghana and Côte d'Ivoire across essential services sectors (education, healthcare, financial services, housing/hospitality, food services). The firm manages two fund vehicles — the Ebankese Venture Fund (EVF) and the Oasis Africa Fund (OAF) — deploying equity, quasi-equity, and convertible debt instruments typically ranging US$0.5M to US$5M per transaction. In parallel, the firm provides Business Development Services (BDS) to investee companies to improve business models and mitigate investment risk.

Product overview

Oasis Capital is a sub-Saharan private equity firm offering investment fund management products and advisory services. The firm manages two distinct fund vehicles: the Ebankese Venture Fund (EVF), a USD 11 million fund targeting Ghana SMEs, and the Oasis Africa Fund (OAF), a US$50 million fund expanding across Ghana and Cote D'Ivoire. Alongside capital deployment, Oasis provides Business Development Services (BDS) to investee companies, combining financial investment with operational support to improve business models and achieve sustainable returns.

Differentiator

Problem solved

Functional benefit

Products and services

• Ebankese Venture Fund (EVF) A US$11 million (first close US$13M) private equity fund investing equity and quasi-equity in SMEs in Ghana providing essential services including private education, housing and hospitality, health services, financial services, and food services. The fund was fully invested across 8 portfolio companies.
• Oasis Africa Fund (OAF) A US$50 million SME-focused private equity fund (first close US$27M) targeting scalable businesses providing essential services in Ghana and Côte d'Ivoire. The fund deploys approximately 50% debt and 50% equity instruments across education, financial services, housing, healthcare, food services and hospitality, with transaction sizes of US$0.5M–US$5M.
• Business Development Services (BDS) Value-adding advisory services provided by Oasis Capital to its investee companies as part of its investment value proposition, combining capital deployment with operational support to improve investee business models, mitigate risk, and enhance returns.

Named customers13 records

Segments6 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Injaro Investments: Accra-based private equity firm investing in Ghanaian and West African SMEs across agriculture, financial services, and consumer sectors. Closest comparable given shared geography, SME focus, and ticket size.
• Verod Capital Management: Lagos-based growth equity firm investing in Nigerian and West African SMEs with similar ticket sizes and sector breadth (consumer, financial services, education). Highly comparable in mandate and stage.
• GroFin: Africa-focused SME investment firm with prior presence in Ghana; Oasis's CEO previously served as Country General Manager at GroFin Ghana. Directly comparable SME finance and BDS model.
• Investisseurs & Partenaires (I&P): Paris-based impact investor funding African SMEs across multiple West and francophone African countries, with a hands-on BDS approach analogous to Oasis's model.
• Novastar Ventures: East and West African PE/VC investor backing SMEs and growth-stage businesses serving African consumers, with similar essential-services thesis.
• Sahel Capital: Lagos-based fund manager focused on Nigerian and West African SMEs, particularly in food/agriculture and consumer sectors; comparable ticket size and LP base.
• Fanisi Capital: Nairobi-based private equity firm investing in East and Southern African SMEs; comparable in SME focus, ticket size, and development-finance LP relationships.

Regional players

• CardinalStone Capital: Nigerian asset manager and private equity arm with growing West African footprint; competes for institutional capital and quality SME deals in similar sectors.

Broad incumbents

• Acumen: Global impact investment fund with significant West African SME exposure, including a focus on essential services. Overlaps with Oasis's thesis but at meaningfully larger AUM.

Others

• Africa Enterprise Challenge Fund (AECF): US$200M development challenge fund investing in African SMEs in agribusiness, renewable energy, and financial services. Oasis's Chairman (Dr. George Manu) runs its West Africa hub; AECF is a complement/co-funder rather than a direct competitor.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/oasis-capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments36 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Oasis Capital