Denmark’s Investment Fund for Developing Countries (IFU) led a USD38m Series B for Nigeria-based hybrid solar power solutions provider Daystar Power, with participation from French impact infrastructure fund STOA, Proparco, and Morgan Stanley Investment Management. Read more… Read More
The Facility for Energy Inclusion (FEI), managed by Lion’s Head Global Partners, reached a final close of USD145m, with a total potential fund size of up to USD400m. KFW contributed an additional USD24m toward the final close. The African Development Bank is the anchor sponsor of FEI. Additional… Read More
Intel Capital, Africa Internet Ventures (a strategic partnership between TPG Growth and EchoVC), and the family offices of Ronald Lauder and Eric Zinterhofer led a USD85m Series B for Gro Intelligence, a Kenya-based, AI-powered insights company focused on the global agriculture industry. Schusterman Family Investments, Dick Parsons, Rethink… Read More
Actis has exited its stake in C&I Leasing, a Nigeria-based company offering fleet management, outsourcing, and marine services, via a trade sale to Peace Mass Transit. Read more… Read More
The European Investment Bank (EIB) has approved USD156m in commitments to six Africa-focused funds, including: USD50m to AfricInvest IV; USD20m to Alitheia IDF‘s Gender Smart Fund; USD30m to WDB Equity Fund; USD25m to BluePeak Private Capital‘s maiden private credit fund; USD12.5m to Atlantica Venture Capital Fund; and USD18.5m… Read More
TLG Capital has exited Branch International Financial Services (Branch Nigeria), a Nigeria-based subsidiary of Branch Inc, a fintech company with operations in Africa, Latin America, and Asia. TLG originally invested in the company in 2019 through its Credit Opportunities Fund. Read more… Read More
FMO has committed USD10m to Ascent Rift Valley Fund II (ARVF II), a vehicle targeting investments in SMEs in Ethiopia, Kenya, and Uganda. Read more… Read More
Inspired Evolution, through its Evolution II fund, and co-investors Norfund and Sagemcom have invested USD35m to establish ESCOTEL, a sub-Saharan Africa-focused clean energy services company. Read more… Read More
Swedfund has committed an additional USD10m to the African Development Partners III (ADP III) fund, a pan-African, consumer-focused fund managed by Development Partners International (DPI). Swedfund originally invested USD15m in 2019. Read more… Read More
Sanlam Investments has reached a second close for its SME Debt Fund, adding ZAR100m (approximately USD6.6m) to the ZAR250m (approximately USD16.6m) raised in September 2020. The SME Debt Fund has committed ZAR110m (approximately USD7.3m) in debt relief to three South Africa-based businesses: non-banking financial institutions Mettle Administrative Services… Read More
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