Merak Capital Leads USD3m Seed Round for Egypt’s Convertedin
Merak Capital led a USD3m seed round for Convertedin, an Egypt-based advertising automation platform for e-commerce, with participation from 500 Global and MSAS. Read more… Read More
Knife Capital Leads USD10m Series A for South Africa’s DataProphet
Knife Capital led a USD10m Series A for DataProphet, a South Africa manufacturing optimization platform, with participation from IDC and Norican. Read more here and here… Read More
Apis Partners To Exit South Africa’s Retail Capital to TymeBank
Apis Partners, through its fund Apis Growth Fund I, has agreed to exit its 11.7% stake in Retail Capital, a South Africa-based fintech that provides SME financing, to TymeBank, another Apis Partners portfolio company, for an undisclosed amount. Read more… Read More
Oui Capital Reaches ~USD11m First Close for Second Pan-Africa Seed-stage Venture Fund
Oui Capital reached a ~USD11m first close for its second fund Mentors Fund II. The vehicle focuses on pan-Africa pre-seed- and seed-stage startups and has a target of USD30m. Read more… Read More
Egypt’s Homzmart Raises USD23m Pre-Series B from STV and Existing Investors
Egypt-based furniture and home goods e-commerce platform Homzmart raised a USD23m pre-Series B from STV and existing investors Impact46, Outliers Ventures, Rise Capital and NUWA Capital. The startup raised USD17m in a Series Alast year. Read more… Read More
AfricInvest Exits Cote d’Ivoire’s Bridge Group West Africa
AfricInvest through its funds AfricInvest II and AfricInvest Financial Sector Fund exited Bridge Group West Africa, a Cote d’Ivoire-based financial services holding company controlled by Teyliom International Group, for an undisclosed amount. AfricInvest acquired a 30% stake in the company in March 2014. Read more here. Read More
Ninety One, TriLinc Global, Others Provide USD425m in Financing to Ghana’s Genser Energy
Genser Energy, a Ghana-based natural gas independent power producer, closed an eight-year USD425m financing package consisting of a USD325m syndicated senior loan facility and a USD100m mezzanine loan. Standard Bank of South Africa, Absa Bank, Société Générale, Mauritius Commercial Bank, Ninety One, Barak Fund and the Development Bank of Southern… Read More
Amethis Exits Ivory Coast’s Pétro Ivoire To State-owned CNPS
Amethis exited its minority stake in Pétro Ivoire, an Ivory Coast-based retail distributor of oil and gas, to state-owned Caisse Nationale de Prévoyance Sociale (CNPS) for an undisclosed amount. Amethis first invested in the company in July 2013 and sold part of its stake through a leveraged management buyout in… Read More
Mirova SunFunder and TDB Lead USD50m Debt Round for Kenya’s d.light
Mirova SunFunder and TDB co-arranged a USD50m debt facility for d.light, a Kenya-based, pay-as-you-go solar platform, with participation from FMO. Read more… Read More
DP World’s Imperial Closes First Tranche of Three-Tranche Acquisition of Mozambique’s Private Equity-Backed J&J Group at USD300m Enterprise Value
DP World-owned Imperial completed the acquisition of a 51% stake in J&J Group, a Mozambique-based logistics company backed by Alterra Capital Partners and Ethos, at an enterprise value of USD300m. Imperial agreed to acquire 100% of J&J Group in 2021 and will acquire the remaining 49% stake through the second… Read More
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