Côte d’Ivoire-based social impact investor Janngo has launched Janngo Capital Startup Fund, a USD66.5m vehicle targeting tech-enabled startups in Africa. The fund will invest from seed through growth stage with at least 50%… Read More
Metier has received USD113m million in commitments and has called a first close of its second Sustainable Capital Fund, MSC II. The fund will target renewable energy, energy efficiency, water and waste management investments in sub-Saharan Africa. MSC II secured commitments from Germany’s development finance institution DEG (Deutsche Investitions und… Read More
Pan-African private equity fund manager AfricInvest has exited its stake in Polymedic, a Morocco-based pharmaceuticals manufacturer, to Middle East and North Africa-focused alternative investment firm NBK Capital Partners. Polymedic produces generic medications across 12 therapeutic areas of treatment. NBK will now hold a majority stake in the company alongside Foursan… Read More
West Africa-focused private equity firm Verod Capital Management has reached a final close with USD200 million in commitments for Verod Capital Growth Fund III. Investors in the fund include sovereign wealth funds, family offices, development finance institutions, asset managers, funds of funds, and foundations. The fund will invest in middle-market… Read More
Africa-focused venture capital firm CRE Venture Capital and global impact investor Omidyar Network have led a USD20 million Series A investment in Nigeria-based renewable energy solutions provider Rensource Energy. Other participants in the round include Inspired Evolution Investment Management, Proparco, EDP Renewables, Investisseurs & Partenaires, Sin Capital, and Yuzura Honda. Read More
SEAF, a global SME-focused impact investor, has invested in France-based, Africa-focused agtech company SOWIT. Using data analytics to synthesize historical climate data and drone- and satellite-based monitoring of current crop conditions, the company provides advisory services to African farmers deploying precision agriculture techniques. This is the fourth investment SEAF has… Read More
LGT Lightstone, the impact investing arm of global bank and alternative investment fund manager LGT, has led a USD26 million Series B investment in Copia Global, a Kenya-based e-commerce company serving low-income and rural customers. Other participants in the funding round include Perivoli Innovations, ELEA, Endeavor Catalyst, and Goodwell Investments,… Read More
Africa-focused growth equity fund manager Mediterrania Capital Partners has agreed to invest in Akdital Holdings, a Morocco-based medical clinic operator, through Mediterrania Capital III. The group owns five multidisciplinary clinics with capacity for 550 beds in total and will use the new capital to support its expansion plans. Financial details… Read More
South Africa-focused alternative asset manager Ethos has agreed to recapitalize Brait, a South Africa- and Luxembourg-listed investment holding company, in partnership with the company’s existing shareholders. Ethos Private Equity Fund VII and Ethos’ listed vehicle Ethos Capital will invest ZAR1.35 billion (approximately USD91 million) in the company, with Fund VII… Read More
Nigeria-based education platform uLesson has secured USD3.1 million in a seed funding round led by TLcom Capital, a media and technology-focused venture capital fund manager. uLesson produces educational content for secondary schools, allowing users to access personalized learning modules, practice tests, region-specific mock tests, and performance and progress reports. The… Read More
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