Another Dutch-based Fund for Kenya?

Kenya is about to get yet another Dutch-based private equity/Venture Capital fund. This one comes in the form of the InReturn East Africa Fund managed by InReturn Capital, a Netherlands-based investment and advisory firm that has been sniffing around Kenya for about 3-4 years. With a stated initial committed capital of 10 million Euros (15 million US dollars) the fund aims to invest into 20 companies in East Africa. This means that the average investment would be in the $500k to $1m range.

So, yet again, another fund that has shied away from the true venture capital and SME space and prefers to play in the realm of private equity by preferring larger deals. How long will it take before investors realise the potential that rests untapped in funding/financing startups, early stage and small/medium businesses?