Two regions. Five countries. Ten-year horizon. $200M target. $5–15M tickets. Operated through bRRAIn, our operating architecture.
MSIFS — Multinational Strategic Investment Funds — Fund 1 is the Frontier Impact Infrastructure & Minerals Fund (FIIMF). A market-rate impact private equity fund targeting $200M in commitments, deploying $5–15M ticket sizes across critical-mineral and infrastructure projects in East Africa and Central Asia.
The thesis is simple. The two largest constraints on frontier-economy growth are missing infrastructure (energy, transport, water) and missing in-country processing of native resources (refining, beneficiation, value-chain capture). When we remove those constraints, impact and return become the same transaction.
We are not a generalist EM fund. We deploy in Kazakhstan, Kyrgyzstan, Kenya, Tanzania, and Mozambique — the markets two of our four partners live in. We invest alongside development finance institutions, US EXIM Project Vault capital, EU critical-minerals policy capital, and Kazakh state institutional partners. We co-invest, never lead alone in a market we don't have local-team coverage for.
US EXIM's Project Vault has approved up to $10B in long-term financing plus $2B in private participation, explicitly framed to anchor a non-China rare-earth and tungsten supply chain. The EU has signed a critical-minerals MoU with Kazakhstan. The host countries are openly soliciting Western capital.
The Astana International Financial Centre (AIFC) provides an English-law fund domicile. AUM of regulated funds in Kazakhstan has nearly doubled since 2020. Samruk-Kazyna is among the world's 25 largest sovereign wealth funds and is privatizing into the public market. The capital plumbing is in place.
$80B+ of national infrastructure plans across Kenya, Tanzania, and Mozambique. Multilateral syndication (AIIB, IFC, EBRD, ADB) is the normalized capital stack. We deploy where the syndicate needs an equity partner with on-the-ground presence.
| Fund name | Frontier Impact Infrastructure & Minerals Fund (FIIMF) — Fund 1 |
| Target fund size | $200M |
| Ticket size | $5–15M per portfolio company |
| Fund life | 10 years (8-year investment + 2-year harvest, with extension provisions) |
| Geographic focus | Central Asia (Kazakhstan, Kyrgyzstan) · East Africa (Kenya, Tanzania, Mozambique) |
| Sector focus | Critical minerals, infrastructure enablers, value-chain integration |
| Carry | 20% over 8% hurdle |
| Hurdle | 8% preferred return |
| Currency | USD-denominated; USD revenue or hedged exposure required at portfolio level |
| Fund domicile | US-based — final fund-vehicle jurisdiction determined on fund counsel's advice; management company will be US-based |
| Reporting | Quarterly LP letter; annual audited financials; live-data investor portal (phase 2) |
The fund vehicle will be domiciled in the United States — final jurisdiction determined on fund counsel's advice. The management company will be US-based. AIFC (Kazakhstan) and Mauritius FSC are evaluated as deal-level structuring options for the Central Asia and Africa sleeves respectively, where they materially improve operating-asset economics or counterparty access. The fund holdco remains US-based to maintain LP regulatory familiarity and SEC-aligned reporting discipline.
The structure is purpose-built for institutional LPs across the US, UK, EU, and GCC — with parallel feeder vehicles available for accredited investors and Sharia-compliant pools.
Deal-level structuring optionality. AIFC is an English-law jurisdiction inside Kazakhstan with a 50-year corporate tax exemption for AIFC participants — used by international PE and mining counterparties (KazAtomProm, KazMunayGas, Glencore, Cove Capital) for in-country deal SPVs. Where a Central Asia investment benefits from AIFC participant status, the deal SPV may be structured through AIFC; the fund holding remains US-based. Mauritius FSC plays the equivalent role on the Africa sleeve where treaty-network or substance requirements warrant.
Stating what we won't do is as load-bearing as stating what we will. The published negative screen is itself a trust signal — and the operating discipline behind every investment decision.
Two of four partners have lived the regions we deploy in. Six years operating in Kazakhstan; an NCOC / Kashagan operating background; an East Africa pipeline built from Nairobi. Not visited — lived.
A structured, persistent, multi-agent operating architecture that compounds learning across deals and enforces a published counterparty-screening rule before any commitment. No peer fund operates this way.
Aligned with host-country state policy and Western critical-minerals policy. We don't fund extraction without committing to value capture in-country. Our deal screen reflects this.
Fund-overview deck and PPM-summary teaser delivered under standard NDA. Response within one business day.
Request Fund Materials →