About Us

Truestone structures equity and debt investment opportunities for both private and institutional investors to provide capital for high growth companies operating in hard-to-access frontier markets. Our strategic focus in the mid-term is expansion of our operations in Sierra Leone, West Africa.

Truestone has delivered investment performance by providing risk capital and hands-on support to innovative companies and projects in frontier markets. We seek to fill gaps in the market where there are clear opportunities to engage those with low to middle incomes.

Highly relational engagement is at the core of our investment approach. This allows us to identify the most attractive opportunities and enables us to minimise the financial and ESG risks.

Investor Added Value

Truestone has built a solid reputation as one of the most active early stage equity investors in West Africa. As well as raising, deploying and managing risk capital, we are fully embedded in our investee companies, providing close strategic support to managements teams on the ground. This approach drives long term value creation for investors.

Investee Support

Alongside introducing and effectively structuring the needed capital, Truestone provides consultancy and project support for investee companies. In addition our Board representation supports strategy generation and business planning. Our London office handles investor relations for investee companies and enhances governance and administration procedures.


Creating sustainable and scalable businesses, over a 7-10 year time horizon

Social Impact

Creating positive social and/or environmental impact that can be quantified, reported and assured

& Mindsets

With a focus on transparency and integrity, we work to tackle corruption and encourage strong governance


Deal sourcing & Idea generation

We identify investment opportunities through trusted local networks and actively via Truestone’s investment team. We look for companies that can apply novel strategies and innovations that disrupt industries and transform business models.

Commercial Due Diligence

Research and analysis, both at macro and industry level. Business plan and model testing against market strategy reviews. We follow by stress testing assumptions and industry expert consultations.

Social Impact Screening

We focus on fast growing sectors with high social impact potential that target lower to middle income consumer bases. Any investment we make must be able to demonstrate a quantifiable social and/or environmental impact and incorporate social impact interests within their long-term strategy. Deloitte audit our social impact with the results published on an annual basis.

Risk mitigation

We are relationship-led in our approach, seeing strong and transparent relationships as a key to success. We also build management capacity through mentoring and knowledge skills transfer. A core service that we provide to our all investee companies is governance and administration support


We navigate challenging, underdeveloped business environments to structure the most secure, tax-efficient and effective solutions that meet with local regulatory standards.


We track performance through financial and social KPIs reporting and regular monitoring visits, whilst maintaining an active presence in country. We provide Project consultancy and strategy support.

Private: Important Information

This website is not suitable for retail investors. It contains investment information for certified High Net Worth Individuals, Sophisticated and Professional Investors only.

Please read this page before proceeding as it explains certain restrictions imposed by law and regulation on the distribution of the information on this website.

This website is issued by Truestone Impact Investment Management Limited (“TIIM”) which is authorised and regulated by the Financial Conduct Authority (FCA Register number 522413) www.fca.org.uk. TIIM is a company registered in England & Wales. Registered Number: 0721774. Registered Office: 6th Floor, 60 Gracechurch Street, London, EC3V 0HR. Truestone Impact Investment is a trading name of TIIM.

This website is directed exclusively at UK authorised institutional investors, professional financial advisers and intermediaries (“professional investors”) only in connection with the investment business of eligible investors. If you are not a UK eligible investor then you should not access this website.

This website is not intended as and is not to be taken as an offer or solicitation with respect to the purchase or sale of any investment, nor does it constitute an offer or solicitation in any jurisdiction, including those in which such an offer or solicitation is not authorised or to any person to whom it is unlawful to make such a solicitation or offer. It is your responsibility to be aware of and to observe all applicable laws and regulations of any relevant jurisdiction.

Any decision to purchase investments with respect to the Funds or direct investments described on this website must be based solely upon the information contained in the Prospectus for that investment, including any supplements thereto, which must be received and reviewed prior to any investment decision. Any person subscribing to the Funds and direct investments must be able to bear the risks involved and must meet the eligibility requirements (further details of which are set out below).

Please note that when you confirm you have read this important information we will place a cookie on your computer to recognise you and prevent this page reappearing should you access this site on future occasions. The cookie will expire after six months or sooner should there be a change to this important information.

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By confirming that you have read this important information, you also:

(i) Agree that such information will apply to any subsequent access to the Individual investors Club (or Institutions / Intermediaries) section of this website by you, and that all such subsequent access will be subject to the disclaimers, risk warnings and other information set out herein; and
(ii) Warrant that no other person will access the Individual Investors Club section of this website from the same computer and logon as you are currently using.

This website contains information about the Truestone Impact Fund LP (an English Limited Partnership) and other similar funds and direct investment opprotunities. Prospective investors should be Professional Investors as defined by the Handbook of rules and guidance of the Financial Conduct Authority (“FCA”) which is available at www.fca.org.uk (“Eligible Investors”). Please note that Truestone Impact Investment Management Limited cannot advise whether these are suitable investments for you. For advice on suitability, please contact your financial adviser.

TIIM is the investment manager of the Truestone Impact Fund LP and other funds that may be described on this website. Trinity Fund Administration Limited is the Administrator of the Truestone Impact Fund LP and is authorised by the Central Bank of Ireland.

The information contained on this site is subject to copyright with all rights reserved. It must not be reproduced, copied or redistributed in whole or in part.

The information contained on this site is published in good faith, but no representation or warranty, express or implied, is made by TIIM or by any person as to its accuracy or completeness and it should not be relied on as such. TIIM shall have no liability, save for any liability that TIIM may have under the UK Financial Services and Markets Act 2000 (or the name of any replacement legislation if the legislation permits such a statement to be made), for any loss or damage arising out of the use or reliance on the information provided including without limitation, any loss of profit or any other damage, direct or consequential. No information on this site constitutes investment, tax, legal or any other advice.

Where a claim is brought against TIIM by a third party in relation to your use of this website, you hereby agree to fully reimburse TIIM for all losses, costs, actions, proceedings, claims, damages, expenses (including reasonable legal costs and expenses) and other liabilities, whatsoever suffered or incurred directly or indirectly by TIIM as a consequence of improper use of this website.

You acknowledge and agree that it is your responsibility to keep secure and confidential any passwords that we issue to you and your authorised employees and not to let such password(s) become public knowledge. If any password(s) become known by someone other than you and your authorised employees, you must change those particular password(s) immediately using the function available for this purpose on the website.

You may leave the TIIM website when you access certain links on this website. In so doing, you may be proceeding to the site of an organisation that is not regulated under the UK Financial Services and Markets Act 2000. TIIM has not examined any of these websites and does not assume any responsibility for the contents of such websites nor the services, products or items offered through such websites.

TIIM shall have no liability for any data transmission errors such as data loss or damage or alteration of any kind, including, but not limited to, any direct, indirect or consequential damage, arising out of the use of this website.

Selected risk factors applicable to an investment in funds or direct investments that we wish to bring to your attention are as follows:

  • Past performance is no guarantee of future performance.
  • The value of investments and the income from them may go down as well as up and are not guaranteed.
  • You may not get back the amount you invested.
  • The favourable tax treatment of Enterprise Investment Schemes (EISs) is subject to government legislation and as such may not be maintained.
  • The levels and bases of, and reliefs from, taxation changed in the last Budget and may change in the future.
  • Rates of exchange may cause the value of investments to go up or down.
  • Fluctuation may be particularly marked in the case of a higher volatility investment and the value of an investment may fall suddenly and substantially.
  • Investments appearing on this site may offer limited or no liquidity and will not be suitable if you require ready access to your capital

Further risk factors are set out in the Offering Documents for investments appearing on this website, which should be considered in full in connection with a potential investment in them.

You can gain access to the FCA’s register and rules and guidance notes from the following link: www.fca.org.uk.

General enquiries about this website should be sent to enquiries@truestone.co.uk. This email address should not be used for any enquiries relating to investments.