Tiger Global Leads USD12m Seed Round for Zambia’s Union54
Tiger Global led a USD12m seed round for Zambia-based card issuer Union54, with participation from Vibe VC, Earl Grey Capital and Not Boring Capital. Read more… Read More
XMLS Reaches USD85m Final Close for African Rivers Fund III
XSML reached a USD85m final close for African Rivers Fund III, exceeding its initial target of USD75m. The fund will provide debt, equity and mezzanine financing to fast-growing SMEs in Central Africa. Read more… Read More
Costanoa Ventures Leads USD15m Series A for Nigeria’s Umba
Costanoa Ventures led a USD15m Series A for Umba, a US- and Nigeria-based digital bank focused on Africa, with participation from Lux Capital, Palm Drive Capital, Banana Capital,Streamlined Ventures, Lachy Groom and ACT Ventures. Read more… Read More
FMO and BIX Capital Invest USD10m in C-Quest for Africa Clean Cooking Operations
BIX Capital and FMO agreed to provide a USD10m facility to C-Quest Capital to support its clean cooking activities in Sub-Saharan Africa. Read more… Read More
Actis Exits Kenya’s AutoXpress via Sale to AfricInvest
Actis sold its stake in AutoXpress, a Kenya-based importer, distributor and retailer of tires, auto parts and accessories serving the East African market, to AfricInvest for an undisclosed amount. Read more… Read More
IFC Commits USD15m to Algebra Fund II
IFC committed USD15m to Algebra Fund II. The vehicle, which is managed by Algebra Ventures, will invest in tech companies primarily in Egypt, with a special focus on women-led businesses and those serving rural communities. Read more… Read More
Union Square Ventures, Algebra Ventures and Wamda Invest Series A for Egypt’s Shift EV
Egypt-based electric mobility startup Shift EV raised an undisclosed Series A from existing investors Union Square Ventures, Algebra Ventures and Wamda, with participation from otf Jasoor Ventures. Read more… Read More
Endeavor South Africa Reaches USD13m Final Close for Harvest Fund II
Endeavor South Africa reached a ZAR190m (~USD13m) final close for its Harvest Fund II. Read more… Read More
Equinix Acquires Nigeria’s MainOne for USD320m, Harith Exits
Equinix completed the acquisition of Nigeria-based data center MainOne for USD320m, facilitating an exit for Harith General Partners. Read more… Read More
AIIM-led Consortium Acquires South Africa’s The Logistics Group for ~USD110m
AIIM, through its IDEAS Fund and AIIF4 Fund, and the Mokobela-Shataki consortium acquired South Africa-based integrated logistics company The Logistics Group for ZAR1.6b (~USD110m). The transaction was financed by a mix of equity and debt financing. Read more… Read More
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