Financial services provider La Compagnie Benjamin de Rothschild (CBR), forest company ONF International and the Moringa Partnership, an investment advisor owned by CBR, have announced the first close of the Moringa Fund, a private equity investment vehicle focused on sustainable agroforestry projects in Sub-Saharan Africa and Latin America. The fund, which is targeting EUR100 million (approximately US$133 million), will typically invest between EUR4 million (approximately US$5.3 million) and EUR10 million (approximately US$13.3 million) per project. Cornerstone investors in the fund include CBR, the Agence Française de Développement and the Latin American development bank Corporación Andina de Fomento. Finnfund, the Fund for Development Promotion of the Spanish Cooperation, Korys and FMO also participated in the first close.