CGC Credit Partners, a credit-focused investment and advisory firm, announced today the closing of an $8.9M investment round for Akola PBC (“Akola” or the “Company”), a luxury lifestyle brand. CGC, which has been serving as the Company’s acting Chief Financial Officer over the past 16 months, coordinated with Akola’s management team and Board of Directors to procure equity and debt capital to fund ongoing operations and growth capital expenditures, as well as refinance a portion of the Company’s existing debt. The credit portion of the round was led by the Development Finance Corporation, the United States’ development finance institution, which recently approved $1B of investments in global development. The Company’s equity investors are comprised of a group of Family Offices, the CEOs of which bring significant experience in business, investing and entrepreneurship.
Founded in 2007 and based in Dallas, TX and Jinja, Uganda, Akola is an impact-focused consumer retail business focused on building an end-to-end luxury lifestyle brand for women around the world. Its products, including jewelry accessories and home goods, are manufactured and assembled by the company’s female employees in Uganda using locally sourced raw materials. By working with these nearly 200 women, most of whom previously lived below the poverty line, the Company is able to offer them dignified employment and living wages so they can care for their families and surrounding communities. Through its vertically integrated supply chain, Akola sells its products both direct-to-consumer and through wholesale channels, including Nordstrom and Saks Fifth Avenue…
