The Board of Directors of the African Development Bank Group (AfDB) has approved a US$100 million anchor investment in Agvance Africa, an agribusiness-focused fund of funds to be managed by Credit Suisse Customized Fund Investment Group (CFIG). Agvance Africa is focused on promoting private investment in African agriculture and agribusiness. The fund is targeting total commitments of US$500 million and plans to invest in 12 to 15 funds across the continent.