Pan-African private equity firm AfricInvest has sold its stake in Kenya-based private school company Brookhouse Schools to United Kingdom-based education-focused investment firm Educas. The transaction was structured through AfricInvest Fund II, which initially invested in the company in 2010. Financial details of the transaction were not disclosed. Read More
Emerging markets (EM) venture capital (VC) activity—in terms of number of deals completed and total capital invested, and as a percentage of overall EM private investment activity—reached record highs in 2014 and showed no signs of slowing down in the first half of 2015. Fund managers completed 472 investments… Read More
Maurizio Caio, Founder and Managing Partner TLcom In 2013, we launched an international venture capital fund focused exclusively on technology-enabled services and innovation for Sub Saharan Africa across all stages of the venture capital cycle. The fund targets equity investments in the… Read More
Africa-focused private equity infrastructure fund manager African Infrastructure Investment Managers (AIIM) has partnered with Hydroneo Afrique, a subsidiary of global hydro power plant equipment manufacturer MECAMIDI, to develop a pipeline of hydro power projects in Sub-Saharan Africa. AIIM and Hydroneo Afrique will establish a 50/50 joint venture to develop, finance,… Read More
Pan-emerging markets private equity firm Actis has acquired a minority stake in South Africa-based home furnishings retailer Coricraft Group. Other investors in the round included Westbrooke, a South Africa-based investment group, and Coricraft Group’s management. Coricraft intends to use the new capital to expand nationally and in Sub-Saharan Africa. Financial… Read More
Adenia Partners, a private equity fund manager focused on growth opportunities and mid-cap buyouts in Sub-Saharan Africa, has exited its investment in Newpack, a Madagascar-based corrugated cardboard packaging company active in the Indian Ocean region. Adenia Partners originally invested in Newpack in June 2008, in a transaction structured through Adenia… Read More
West Africa-focused private equity fund manager Cauris Management has sold its stake in Benin-based mineral water bottler and distributor Eau Technologie Environnement (ETE) to Les Eaux Minérales d’Oulmès, a Morocco-based bottling and distribution company. The transaction was structured through Cauris Croissance, a fund managed by Cauris Management. The firm originally… Read More
Africa-focused investment management firm Convergence Partners has acquired a minority stake in Nigeria-based financial technology-focused holding company Venture Garden Nigeria (VGN) for US$20 million. The transaction was structured through Convergence Partners Communications Infrastructure Fund. VGN will use the new capital to accelerate its growth plans domestically in Nigeria and across… Read More
Download the full brief here. Why Do First-time Funds Matter? First-time funds, defined here as an asset manager’s first private equity (PE) vehicle, have historically accounted for a significant share of fundraising activity in emerging markets (EM). Between 2008 and the first quarter of 2015, 286 first-time funds… Read More
Africa-focused asset management firm Investec Asset Management has completed a follow-on investment in Nigeria-based mobile telecommunications infrastructure provider IHS Towers. Investec originally invested in IHS in 2011. The company will use the new capital to acquire, build and integrate new towers. Financial details of the transaction were not disclosed. Read More
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