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Dutch impact investor Oxano Capital has announced an investment in Uganda’s Mujuni Ventures Ltd (MVL), adding the dairy processor to its portfolio.
While the financial terms of the investment were not disclosed, Oxano Capital said it was drawn to the company because of its established farmer network, strong understanding of the local dairy market, experienced leadership, and opportunity to scale its processing and distribution capabilities.
“We believe Mujuni Ventures represents the kind of business Oxano Capital seeks to support: a locally rooted company with strong commercial potential and the ability to create meaningful impact throughout its value chain,” said Heran Getaneh, Investment Associate, Oxano Capital.
Founded in 2020 by Dickson Mujuni, the Ugandan company has grown from a milk aggregation business into an integrated dairy company. The company sources milk from smallholder farmers in southwestern Uganda and links them to formal markets through its expanding processing and distribution operations.
Its aggregation model is built around smallholder dairy farmers, with the company aggregating milk from over 2,500 smallholder farmers organised into 14 dairy groups across the country. According to Mujuni Ventures, the resulting products are directly consumed by more than 500,000 households across Uganda.
Its product line includes raw milk sold straight from the farm and its flagship Too GooD Yogurt brand alongside flavoured and fruit yoghurts.
Founded in 2021, the Utrecht-headquartered Oxano Capital is a sub-Saharan Africa-focused investor backing manufacturing companies, businesses in the agro-processing sector, and technology-driven enterprises.
The firm says its mission is to drive growth in businesses that generate growth in individuals, communities and the local economy. The firm says it pursues this goal by creating employment, contributing to local infrastructure, stimulating local economies, and keeping its investments financially sustainable.
Mujuni Ventures says it has expanded regionally, operating within the wider East African region and into the Democratic Republic of Congo and Egypt. The new investment will expand its processing capacity, strengthen its cold-chain infrastructure, and increase its distribution and market presence across Uganda.
According to the Dutch investment firm, Mujuni Ventures’ impact extends across the dairy ecosystem. Its model supports smallholder farmers by providing access to formal markets, creating employment through its growing operations, and improving access to nutritious dairy products.
It further adds that the company’s growth contributes to SDGs 1, 2, 5, 8, 12, and 13, supporting poverty reduction, food security, economic opportunity, gender inclusion, responsible production, and climate-conscious growth.
In July 2026, Oxano Capital invested in Kenyan FinTech startup Sevi to widen access to working capital for micro and small businesses across the country.
