Convergence Partners reached a USD120m first close for its Convergence Partners Digital Infrastructure Fund. The vehicle has a target size of USD250m and will invest in the digital infrastructure ecosystem in Africa, specifically in fiber, wireless, data centers and towers, as well as 5G, cloud, IoT, AI, fintech and network… Read More
Aflac Global Investments agreed to invest USD2b in Denham Capital to launch a new debt platform within Denham Sustainable Infrastructure for a 24.9% stake. Aflac also committed USD100m toward Denham’s second dedicated equity fund. Read more… Read More
A consortium led by Metier and including CDC Group, DEG and Proparco invested USD36m in Africa Mobile Networks, a developer and operator of mobile network base stations in Sub-Saharan Africa. Read more… Read More
Mediterrania Capital Partners invested an undisclosed amount in Morocco-based FMCG manufacturer Dislog Industries through its MC III fund. Read more… Read More
BluePeak Private Capital, through its BluePeak Private Capital Fund, invested USD16m in Tunisia-based disposable hygiene products company Sotupa. Read more… Read More
Novastar Ventures led a USD4.2m financing round for Ignitia, a West Africa-focused agtech based in Sweden, with participation from Future Foodways, Mercy Corps, Norrsken and Finca International, and follow-on from IKEA Social Entrepreneurship. The funds will be used to expand Ignitia’s operations into Brazil and to extend the company’s footprint… Read More
US-based enterprise event platform Bevy acquired Egypt-based event management software startup Eventtus for an undisclosed amount, facilitating an exit for Algebra Ventures, Middle East Venture Partners (MEVP), Raed Ventures, 500 Startups, Cairo Angels, Daal VC and Hala Ventures. Read more… Read More
Costanoa Ventures and CRE Ventures led a USD7m Series A for Smile Identity, an Africa-focused identity verification startup, with participation from LocalGlobe, Intercept Ventures, Future Africa and angel investors, and follow-on from Khosla Impact, ValueStream Ventures, Beta Ventures, 500 Startups and Story Ventures. Read more… Read More
Vantage Capital has reached a USD207m first close for its Vantage Mezzanine Fund IV. The vehicle, which has a target of USD350m, will provide mid-sized African businesses with flexible capital to enhance job creation and facilitate economic opportunities and growth. Read more… Read More
Middle East Venture Partners (MEVP), Global Ventures and Algebra Ventures led a USD7.5m Series B for Egypt-based healthtech Yodawy, with participation from CVentures, P1 Ventures and Athaal Angel Investors Group. Read more… Read More
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