Vital Capital Unveils New Investment Decision Making Body and Makes Three Significant Hires10-09-2020
Vital Capital has expanded its governance team, with three independent members, and unveiled a new decision-making structure that further strengthens impact analysis in Vital’s investment process while enhancing independence, transparency and governance.
Impact and ESG have always been critical to every investment decision that Vital makes. In the past, impact, ESG and financial considerations for each potential investment would be evaluated by a single Investment Committee. As part of Vital’s new approach, all investments are now subject to rigorous final assessment by the Investment Committee and a separate Impact Committee, which function independently of one another. Each committee has the power to veto any proposed investment. With this new approach, Vital ensures complete independence of decision-making between the two groups, while impact, ESG and financial factors are treated equally and evaluated jointly by Vital’s investment team as part of the due diligence process.
To support this new structure and to further strengthen Vital’s efforts, three new senior independent team members have been appointed to the Impact and Investment Committees. Ms. Kanini Mutooni joins as an independent Impact Committee member while Mr. Jacob Kholi joins the Investment Committee and Mr. Suleiman (Sula) Kiggundu joins the Investment Committee for the Vital Impact Relief Facility, Vital’s innovative debt vehicle focussed on helping businesses weather the economic consequences of the COVID-19 pandemic.
Please see below for brief introductions to Kanini, Jacob and Sula and please join us in welcoming them to the Vital team. We’re very excited to have them on-board!
Kanini Mutooni is Managing Director at Draper Richards Kaplan, a Venture Philanthropy institution focused on investing in global early stage entrepreneurs creating impact. She is also a Senior Adviser for Toniic, the global action network for impact investors with over 300 asset owners representing over $16 billion in investible wealth. Prior to this appointment, Kanini was the Director for Investment at the USAID-funded East Africa Trade and Investment Hub, a $65 million, 8-country initiative to attract investment and increase trade in the East Africa region.
Kanini is based in London, UK.
Jacob Kholi brings over 25 years of venture capital and private equity experience having worked for CDC, Aureos Capital and The Abraaj Group since 1995, based in London and in Accra. Throughout his career he was involved in several landmark private equity deals in West Africa, such as Ghana Home Loans (Pioneer property mortgage provider, later acquired by First National Bank of S.A.) and Fan Milk (leading frozen dairy and juices manufacturer, later acquired by Danone) where he served as board member.
Jacob is based in Accra, Ghana.
Suleiman Kiggundu has served in senior leadership roles at various leading institutions, including Equator Bank, HSBC Bank plc and as the Regional Director for Africa at CDC Group plc. He is currently the Chief Investment Officer at Equator Capital Partners, a private equity firm focused on microfinance, SMEs and fintech and he also chairs the CFS Group, a pan-African financial services group. In addition, he serves as a non-executive director of various companies, including I&M Bank (listed on the Nairobi Securities Exchange), GA Insurance Uganda and Red Sea Energy.
Sula splits most of his time between Kenya and Uganda.