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11-4-09 4:15 AM EST | E-mail Article

LONDON -(Dow Jones)- Scipion Capital Wednesday said it has launched a new fund to invest in African mining and natural resources companies, after raising $15 million in investor commitments.

The fund, called Scipion Mining & Resources Fund, is targeting annual returns above 50% and is being marketed to institutional investors and wealthy individuals.

Scipion said it plans to take equity stakes in small-cap mining companies listed in Sydney, Toronto and on London's junior Alternative Investment Market. It is being managed by Scipion Chief Investment Officer Nicolas Clavel and Scipion Head of Structured Trade Finance Andrew Garden.

Funding will be given to selected companies to initiate projects, giving Scipion the possibility of making money both from the companies' share prices and the production profits of the companies.

Scipion said the fund gives investors the ability to capitalize on Africa's " unique combination of geological strength and favorable investment conditions."

Company Web site: http://www.scipion-capital.com --By Margot Patrick, Dow Jones Newswires; +44 (0)20 7842 9451; margot.patrick@ dowjones.com 


  (END) Dow Jones Newswires
  11-04-090415ET
  Copyright (c) 2009 Dow Jones & Company, Inc.
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