Shorecap II

Cote d'Ivoire, India, Zimbabwe, Nigeria, Kenya, Pakistan, Zambia, Mauritius, Azerbaijan, Sri Lanka Financial services

Equator Capital Partners LLC is a Chicago-based investment management firm that offers portfolio management, consulting, and financial planning services.  The firm’s ShoreCap family of funds invest in inclusive financial services in Asia and Africa.

Shorecap II (“SCII”) focuses on investments into microfinance companies and small business banks (SME banks) in Asia and Africa

This investment was made when British International Investment was named CDC Group. It was also was made under a previous strategy. We disclose information on all our current investments, but narrative information on our pre-2012 investments, when we introduced a new strategy, may be limited.

Key facts


Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

Rest of the World

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people. For funds, the sectors listed here are those the fund has invested in so far.

Financial services
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

Intermediated investment
Fund manager:
Equator Capital Partners
Start date

For direct investments, this is the date British International Investment committed capital to the business or project.

For funds, this is the date that British International Investment committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

December 2009

For direct investments, this is the total amount that British International Investment has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that British International Investment has committed to the fund.


This is the investee company’s place of incorporation; or a fund’s jurisdiction.


Investments made by this fund

  • Active
  • Exited
Investment name Country Region Sector Start date Status
Madison Finance Company Limited (MFinance)

Madison Finance is a leading financial services provider of consumer loans, micro loans and structured loan facilities to individuals and to SMEs in Zambia.

View investment details

Zambia Africa, East Africa Financial services October 2011 Active
UB Finance

UB Finance is a non-bank financial institution providing financial services in Sri Lanka, and is backed by Union Bank. Its offerings include savings accounts, fixed deposits, pawning and real estate solutions.

View investment details

Sri Lanka South Asia Financial services October 2011 Active
Kushhali Bank Limited

Kushhali Bank is Pakistan s first and largest microfinance institution. Its operations and impact span across all the four provinces of the country, Jammu and Kashmir and the Federally Administered Tribal Areas.

View investment details

Pakistan South Asia Financial services April 2012 Active
FBC Holdings Limited

FBC Holdings Limited is a diversified financial services group with interest in commercial banking, stock broking, mortgage and reinsurance services based in Harare, Zimbabwe and listed on the Zimbabwe Stock Exchange.

View investment details

Zimbabwe Africa, East Africa Financial services June 2013 Active
SBM Holdings

SBM Holdings Ltd is the second largest company listed on the Stock Exchange of Mauritius and serves individual customers as well as small and middle market businesses with a full range of banking and financial services.

View investment details

Mauritius Africa, East Africa Financial services October 2014 Active
Fortis Microfinance Bank

An Abuja State microfinance bank registered with the Central Bank of Nigeria and listed on the Nigerian Stock exchange

View investment details

Nigeria Africa, West Africa Financial services February 2016 Active
Jamii Bora Bank Ltd

Jamii Bora Bank (JBB) is a rapidly growing commercial bank in Kenya licensed by the Central Bank of Kenya, the national banking regulator.

View investment details

Kenya Africa, East Africa Financial services April 2016 Active

We are now British International Investment