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Mirabelle Moreaux
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Mirabelle Moreaux

Investment Officer & Board Member

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At a glance

Full Name
Mirabelle Moreaux
Title
Investment Director / Partner, Injaro Investments Limited; Board Vice Chair, Impact Investing Ghana
Firm
Injaro Investments Limited (manager of the Injaro Agricultural Capital Holdings Limited fund, "IACHL")
Firm Type
Africa-focused private equity & private credit fund manager (plus personal angel investing)
Investment Stage
Early- and growth-stage SMEs (fund level); Seed round (personal angel portfolio)
Check Size
Not publicly disclosed
Target Company Profile
Small and medium-sized enterprises with strong growth potential and measurable social/economic impact
Sector Focus
Agriculture and agribusiness value chains (fund); personal angel interests in precision medicine, engineering, catering, shoe manufacturing, and farming
Geographic Focus
West Africa — Ghana, Côte d'Ivoire, Mali, Burkina Faso, Niger, and Sierra Leone
Location
Accra, Ghana

Background

Mirabelle Moreaux is a private-investment and business-advisory leader with roughly two decades of experience designing and managing equity, credit, and technical-assistance solutions for early- and growth-stage small and medium businesses. She is Investment Director (also described as a Partner responsible for fundraising and investor relations) at Injaro Investments Limited, an Africa-focused private equity and private credit fund manager active in Ghana and the wider West African region. In that role she identifies and assesses viable companies and manages them for optimum growth. Injaro reports roughly $127 million in assets under management across multiple funds — including the agriculture-focused Injaro Agricultural Capital Holdings Limited (IACHL) and the more recent Injaro Ghana Venture Capital Fund (IGVCF), which closed in December 2023 at about GHS 216 million (~$17.4 million).

Before Injaro, Moreaux was an Engagement Manager at Booz & Company, the global management consultancy, where she advised businesses, governments, and organizations across the USA, the Middle East, and North Africa. Earlier in her career she worked with Abt Associates, Inc., a socio-economic policy research and consulting firm in Washington, D.C.

She is Board Vice Chair of Impact Investing Ghana (IIGh), a private-sector-led initiative promoting sustainable development and building out Ghana's impact-investment ecosystem, and has been associated with the Ghana Investment Support Programme (GISP). Alongside her institutional roles, she is an active angel investor and mentor, backing and advising founders across precision medicine, engineering, catering, shoe manufacturing, and farming.

Moreaux graduated Phi Beta Kappa with a B.A. in Economics and French from Grinnell College and the London School of Economics, and holds an M.B.A. from the Wharton School of the University of Pennsylvania.

Investment Thesis & Focus

  • Institutional (Injaro): Invests debt, quasi-equity, and equity in small and medium-sized agricultural and agribusiness enterprises across West Africa, prioritizing companies that generate strong commercial returns alongside measurable social and economic impact.
  • Personal (angel): Backs seed-stage founders, taking a hands-on mentoring role in a diversified portfolio spanning precision medicine, engineering, catering, shoe manufacturing, and farming.
  • What earns a "yes": Businesses with a credible growth trajectory (Injaro portfolio companies have posted multi-year revenue growth rates of 60%+ per annum), a defensible market position, and clear impact on beneficiaries such as smallholder farmers and rural producers.
  • Impact orientation: As Vice Chair of Impact Investing Ghana, she champions catalytic and blended capital that mobilizes local (including pension) funding into SMEs.

Notable Investments

  • Agricare Ltd. — Kumasi-based animal-feed producer and long-standing leader in Ghanaian poultry feed; grew revenue ~62% annualized under Injaro before a full exit (stake sold to Flour Mills of Ghana) after nearly eight years.
  • M&B Seeds and Agricultural Services Ghana Ltd. — Leading maize-seed producer; Injaro invested in May 2011 and fully exited in 2021 (share buy-back) after a ~10-year hold, during which M&B grew revenue ~67.5% per annum on average.
  • Sekaf Ghana Ltd. — Producer of shea-based personal-care products (TAMA brand), working with a network of 3,000+ rural women shea-nut collectors.
  • Kona Agro Processing — Ghanaian agro-processing portfolio company within the IACHL fund.

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