INTERVIEW-TLG invests in Uganda, Liberia, eyes bigger fund

* Buying into Uganda's Vero Foods and Liberian hospital

* More than 75 pct of $25 million fund invested in Africa

* Hopes to raise fund to $50 million-$100 million

By Helen Nyambura-Mwaura

NAIROBI, Oct 12 (Reuters) - London-based frontier markets fund TLG Capital said on Tuesday it had acquired 20 percent of a Ugandan food processing firm and will this month close a deal on a Liberian medical facility.

More than 75 percent of the $25 million fund is invested in Africa, Zain Latif, principal of TLG Capital, told Reuters in a telephone interview, adding he hoped to raise the fund to as much as $100 million.

"Our fund is very consumer driven so we look at sectors that have traditionally been avoided or have not had much interest from outside investors," the former Goldman Sachs banker said. "We feel there is a huge market in the rising consumerism of Africa. Everything that caters to that market is something we are looking at."

Latif declined to say how much was spent on the stake in Uganda's Vero Food Industries, which plans to start bottling water and packaging rice.