Investments
Patient capital, industrial horizon
We invest where capital converts a resource into an industry — and we stay long enough for that conversion to happen.
Investment thesis
Four convictions that shape every decision
The value gap is the opportunity
Africa supplies a third of the world's minerals and captures a fraction of the processed value. Every step moved downstream multiplies the revenue retained on the continent.
Power and logistics decide everything
We only commit where firm power and a viable route to port exist or can be contracted. Most African project failure traces back to one of these two constraints.
Offtake before construction
Contracted demand converts a mineral deposit into a financeable asset. We structure offtake first and build against it, never the reverse.
Partnership beats ownership
Host governments, communities and technical operators are structured in as partners at the outset. Alignment at inception avoids renegotiation at scale.
Investment criteria
What we look for
Deliberately narrow at the top of the funnel. If a proposal does not clear these gates, we say so quickly rather than slowly.
- Ticket size
US$ 25M – 500M+
Direct and syndicated
- Geography
Sub-Saharan Africa
With global offtake and capital partners
- Stage
Near-production to operating
Selective early-stage where strategic
- Position
Control or structured minority
Board representation in all cases
- Hold period
7 – 15 years
Patient capital, industrial horizon
- Return profile
Risk-adjusted, hard currency
Underpinned by contracted offtake
How we work
Our Investment Approach
We create value through a disciplined and partnership-driven approach — narrow at the top of the funnel, relentless after commitment.
Stage 01 — Identify
Screening is deliberately narrow. We test every opportunity against resource quality, infrastructure access, offtake certainty and jurisdictional risk before a single hour of diligence is spent.
Beyond the cheque
What a partnership with AGC adds
Capital is the commodity. Everything below is what actually determines whether a project reaches steady state.
Consortium assembly
Technical operator, offtaker, financier and host-state stakeholder aligned in one structure before commitment.
Power contracting
Captive generation, wheeling and storage negotiated ahead of construction, not after commissioning.
Logistics & offtake
Rail allocation, port access and long-term purchase agreements structured to make the asset financeable.
Government interface
Licensing, industrial policy alignment and special economic zone positioning handled as a workstream.
Diligence & governance
Independent technical, legal and ESG diligence commissioned by AGC and disclosed to all counterparties.
Platform leverage
Access to the wider AGC network — mining feeding beneficiation feeding manufacturing and market.
Common questions
Before you get in touch
Both. We take principal positions and we assemble consortia. In most mandates we do both — an AGC commitment alongside syndicated capital from family offices, DFIs and strategic partners.
Operator selection, offtake structuring, power and logistics contracting, government relationships and access to the wider platform — mining feeding beneficiation feeding manufacturing. For most projects, that access is worth more than the cheque.
Screening is fast — usually two to three weeks to a clear yes or no. From there, structuring and diligence to financial close on an industrial-scale project typically runs nine to eighteen months, depending on power and permitting.
Selectively, and only where the licence package is strategically significant and the host-country position is already structured. Most of our capital goes to near-production and operating assets.
No credible route to firm power. No viable logistics corridor. Unresolved title or beneficial ownership. And any structure that cannot survive independent diligence being published to all parties.
Investment enquiries
Send us the deck
Resource holders, operators and co-investors — a two-page summary is enough for us to tell you whether it clears our gates.