History
Goodwin and Kinoti met in 2005, and after a period of discussion established Fusion in Nairobi in 2006. Start up capital was provided by the co-founders, who were later joined by a number of investors in the UK.
The next years focussed on team recruitment, and on establishing the kinds of systems and governance needed to build a significant fund management business. During this period, the company paid its way by providing working capital loans to growing SMEs in the Kenyan market. The company became rather good at this, establishing a track record of achieving high rates of return, with modest default rates. In 2010, the shareholders provided further capital to expand this activity, which became the smaller company lending programme, which Fusion still manages. During this period, the company expanded internationally, opening new offices in Kigali, Rwanda and Kampala Uganda.
During these years, the company also developed an expertise in managing Treasury assets, by investing its surpluses in African fixed income and equities.
In 2011, the board determined that the company was ready to move into fund management, and Fusion Capital Asset Management was launched, opening a subsidiary in Guernsey and later in Kenya. Later that year, Fusion African Access was launched. Fusion African Access is an Africa-focussed Diversified Growth Fund, offering thoughtful exposure to high growth economies in the region.