Dutch Oak Tree Foundation (DOTF) as well as multiple minority shareholders have sold their stakes in Joseph Initiative (JI) to Agilis Partners, an agricultural development company based in Uganda. 

JI is a grain management and merchandising group founded in January 2013. 

JI has built a network of grain collection, primary processing and storage infrastructure across Western Uganda. 

DOTF, an impact investor, financed the early stages of JI’s growth, joining as a minority shareholder in 2014. 

DOB Equity acted for and on behalf of DOTF. 

Brigit van Dijk – van de Reijt, CEO of DOB Equity, said: “We are proud that our early-stage investment and strategic support helped Agilis to build the JI into the enterprise and impact engine it is today. With this management buyout, we are able to prove that financial and social returns can go hand in hand.” 

“The JI is working with farmers across Uganda to support them to produce high quality grains and pulses whilst providing access to market. Apart from the direct social impact to the farmers of Uganda, the JI contributes to enhanced food security for East Africa,” she said.

Agilis will implement a new capital structure and increase collaboration between JI and other Agilis investments, which will enhance the company’s growth prospects, financing opportunities and profitability.

“Our new ownership structure and the accompanying changes in the financial structure, when coupled with our strong competitive position and operational capabilities, will enhance our growth prospects and provide for an exciting future for the Joseph Initiative, our employees, our customers and our farmer partners,” said Agilis co-managing partner Philipp Prinz.

 “We are thankful for DOTF’s collaboration to seed the vision of the company.”

With all proceeds being re-invested into the fund, DOTF seeks to exit companies when the financial, operational and social sustainability is secured and the company has access to other capital partners who can bring the company to its next stage of growth.

“I believe strongly in the future of the Joseph Initiative, the current management team and the bright prospects for the Joseph Initiative, which has been and will be Agilis’s passionate focus for many years to come,” said co-managing partner Benjamin Prinz.