Venture Capital

Alitheia IDF leads US$11mn investment round in SweepSouth

27 September 2022

26 September 2022: SweepSouth, an online home services platform with presence across Africa, today announced that it has completed an US$11m investment round led by Alitheia IDF (AIF), Africa’s first and largest gender-lens private equity fu…

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TLcom backs procurement & business operations platform for restaurants across Africa

26 September 2022

Lagos, Nigeria. 26 September 2022 - Vendease, a Y Combinator backed digital platform that allows restaurants in Africa to buy supplies, access financial services and power their business operations, has raised $30 million in an equity and debt funding rou…

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September Industry News

26 September 2022

A collection of news across the African private equity and venture capital industry | Bboxx acquires PEG Africa Tuesday 6th September 2022 – Bboxx is cementing its status as the leading super platform for life-changing products and services on the Afric…

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AfricInvest leads venture financing for insurtech platform 

19 September 2022

Insurance penetration in Africa is currently below 3% largely attributable to the slow adoption of innovation in the sector. Many underwriters rely on traditional systems involving agents and lots of paperwork to sign up new customers, which limits custom…

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Sanari Capital announces first close for new fund

08 September 2022

Johannesburg, 8 September 2022 – Sanari Capital has announced a R475 million (c.$28 million) first close on its Sanari 3S Growth Fund (Sanari 3SG). The private equity firm focuses on investments in growth companies emanating from Africa (mainly from South…

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IFC signs Malawi hydropower agreement 

06 September 2022

Lilongwe, Malawi, September 6, 2022--The Government of Malawi (GOM), IFC, Scatec and EDF today sign a binding commercial agreement to undertake the co-development of the Mpatamanga hydropower project. The agreement, signed under Malawi's Public-Private P…

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AfricInvest and Seedstars Africa Ventures back Bizao

22 July 2022

Bizao, a fintech that facilitates payments for both local and international businesses operating in Africa, announces an €8 million series A funding round led by AfricInvest Financial Inclusion Vehicle (AfricInvest FIVE), Adelie and Seedstars Africa Ventu…

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AfricInvest and Future Africa portfolio get investment from BII

30 June 2022

Lagos - 30 June 2022 - British International Investment (“BII”), the UK government’s Development Finance Institution (DFI), formerly known as CDC Group, introduced its new name and announced a US $20 million, 4-year structured credit investment in Moove –…

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Startups in Africa are solving real challenges, downturn or not

28 June 2022

Earlier this year YCombinator, the leading Silicon Valley based accelerator program, sent a letter to their cohort, which was entitled "Economic Downturn," advising startups on how to adjust their fundraising strategy and their spending in light of troubl…

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TLcom Capital commits US$2mn fund to FirstCheck Africa, names Eloho Omame as Partner

27 June 2022

TLcom Capital, a prominent Africa-focused seed to series B venture capital firm, has committed $2 million to FirstCheck Africa and appointed Eloho Omame as a partner. The capital injection will enable FirstCheck Africa to support more high-growth, techno…

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Proparco completes pre-series-A investment in Moringa

26 June 2022

Building on the Seed Investment by DOB Equity and USD 9.5m funding by Mastercard Foundation, Moringa is excited to have recently received an investment from Proparco to support its expansion outside Kenya. This has seen the tech-based learning institution…

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CrossBoundary Energy Access secures US$25mn

16 June 2022

KENYA – CrossBoundary Energy Access (CBEA), a financing facility for mini-grids, has raised US$25 million in new funding commitments. The funds were from ARCH Emerging Markets Partners Limited, Bank of America, and Microsoft Climate Innovation Fund. Thi…

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IFC invests equity into African healthcare company Avacare

13 June 2022

Johannesburg, South Africa, June 13, 2022—To increase access to high quality, affordable healthcare products and services across Africa, IFC today announced a partnership with Avacare Global to help the company expand its manufacturing and distribution of…

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IFC set to invest US$26mn in Partech’s Africa Fund II

10 June 2022

The International Finance Corporation (IFC), the private sector arm of the World Bank, plans to make an equity investment of up to €25 million ($26.43) into the Partech Africa Fund II (PAF II) by the Paris-based VC firm Partech. The IFC said in the disclo…

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AfricInvest invest in Edtech startup GOMYCODE

09 June 2022

Yahya Bouhlel started coding in his early teens. Within this timeline, he interned at several companies in Palo Alto, California. Most of his work revolved around building apps and iPhone games. When he came home to Tunis, he met many students who wanted…

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Sawari Ventures invests in Egypt lending platform ADVA

09 June 2022

Egypt-based fintech ADVA has raised an undisclosed "six-digit figure" Seed round from Sawari Ventures. Founded in 2020 by Rania Gaafar, ADVA is a consumer lending platform that allows customers to pay for a wide variety of services and products in inst…

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Proparco invests US$12mn in Africa frontier-market investor Maris

08 June 2022

Proparco, through AFD Group’s FISEA+ initiative, has just closed a $12m equity round with Maris Limited, an impact investor with expertise in frontier markets in East and Southern Africa. The climate-aligned investment will fund start-ups and SMEs in r…

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Axian Group invests in Egyptian fintech fund

08 June 2022

The AXIAN group is pleased to announce that it has joined Disruptech Egypt Fund I, a venture-capital fund dedicated to supporting tech-enabled and fintech startups in Egypt. Disruptech Egypt Fund I ("Disruptech"), is a venture-capital fund dedicated to d…

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Amethis jointly acquires GlobalCorp, a leading non-bank financial player in Egypt

11 May 2022

SPE Capital, a private equity firm focused on Africa and the Middle East, announces the acquisition, by its private equity fund SPE AIF I, of GlobalCorp for Financial Services S.A.E (GlobalCorp), a leading Egyptian non-banking financial services company…

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British International Investment (BII) invests in Egyptian fintech, Paymob

09 May 2022

Egyptian fintech Paymob, which enables merchants to accept digital payments online and in-store, announced today it has raised $50 million in Series B funding. PayPal Ventures, the global corporate venture arm of PayPal, New-York-based venture capital Ko…

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Kuramo Capital makes US$10 Million commitment to Uhuru Fund I

07 May 2022

Kuramo Capital Management (“Kuramo”), a Sub-Saharan Africa focused investment management firm, is pleased to announce its US$10 million commitment to Uhuru Growth Fund I (“UGF”). UGF is a middle market private equity fund launched by Uhuru Investment Part…

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EXEO Capital acquires stake in SA's only manufacturer of animal active pharmaceutical ingredients

04 May 2022

The local pharmaceutical industry has the ability to make a significant contribution to South Africa’s gross domestic product as well as Africa’s broader socio-economic landscape. There are, however, very few examples of successful home-grown pharmaceutic…

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IFU et al. in US$15.5mn deal to back Africa GreenCo

04 May 2022

Lusaka, Zambia: InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), the Danish Investment Fund for Developing Countries (IFU) and the EU-funded Electrification Financing Initiative (EDFI ElectriFi) have together committed US$15.5m…

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Future Africa, Wuri Ventures et al. back Norebase

04 May 2022

Startup pitches with promises to provide various services to Africans — across different sectors — are commonplace now. And in trying to sweet-talk investors, what’s not taken into context or often disregarded is that Africa is a fragmented $3 trillion ma…

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FMO jointly provides $10mn facility for clean cooking initiative

04 May 2022

The Netherlands Development Finance Corporation (FMO) is teaming up with BIX Capital to open a $10 million line of credit to C-Quest Capital (CQC). The company will use the facility to distribute environmentally friendly cook stoves in 15 sub-Saharan Afri…

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Africa Finance Corporation attracts new equity from Ghana, Sierra Leone and Seychelles

28 April 2022

Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider, announces a boost to its shareholder capital after receiving US$35.5 million in equity investments from the Seychelles Pension Fund (SPF), the Government of Sierr…

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Wealth Fund Seeks to Invest Some of Senegal Oil Windfall Abroad

28 April 2022

Country to allocate 10% of future oil and gas revenues to fund West African economy is expected to start production next year Senegal’s sovereign wealth fund is considering investing in neighboring countries after it starts receiving…

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AVCA conference: ‘Private capital in Africa at a crossroads’

28 April 2022

Papa Madiaw Ndiaye of AFIG Funds, Tokunboh Ishmael of Alitheia Capital, Senegalese minister Amadou Hott of Senegal, and Abi Mustapha-Maduakor of the African Private Equity and Venture Capital Association (AVCA). Photo: Supplied/Ventureburn "World-c…

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Energy access and financial inclusion ride Africa’s swell of private capital

27 April 2022

ImpactAlpha, April 27 – The bad news: The COVID-19 pandemic reversed progress in Africa toward Sustainable Development Goals. The good news: Much of the renewed surge of private capital flowing to the continent has an impact flavor, through investmen…

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Norfund Invests in Cashew Processor in Cote d’Ivoire

26 April 2022

Norfund is investing USD 10 million to finance a cashew processing plant in Cote d’Ivoire. Processing of cashew nuts is expected to create 2000 new jobs.  Valency International Trading SARL (“Valency CIV”) is a subsidiary of Singapore-based Valency Inter…

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IFU invests in clean cooking fund

26 April 2022

The new fund, Spark+ Africa Fund, will aim investments at the health and climate challenges facing the rural population in Africa by replacing the current use of open fires, charcoal and kerosene for cooking with healthier and cleaner alternatives. IFU in…

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Nigeria attracts most PE, VC investments in Africa

26 April 2022

Nigeria’s fintech sector attracted the highest private equity and venture capital deals in the last five years, according to data obtained from Africa Private Equity and Venture Capital Association (AVCA). Driven by venture capital deals and in…

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DOUBLING PRIVATE CAPITAL INVESTMENTS IN AFRICA

26 April 2022

Record-breaking private capital deals were made in Africa last year.   In 2021, Investors pumped in $7.4 billion—118% more than the $3.4 billion invested in 2020. The report by the African Private Equity and Venture Capital Association (AVCA) attribut…

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Norfund makes US$8mn investment in 1K1V's Redsun Dried Fruit and Nuts

20 April 2022

Norfund, a Norwegian Investment Fund for Developing Countries, has invested $8 million South Africa-based raisin processor and distributor Redsun Dried Fruit and Nuts (“Redsun”), a portfolio company of One Thousand and One Voices (1K1V). Redsun, locate…

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Standard Bank partners with Tana Africa Capital to support their growth ambitions in Africa

19 April 2022

Standard Bank Group is proud to announce its funding into Tana Africa Capital II (“Tana Africa Capital”), an investment company which aims to build African companies through growth capital, operational and strategic support. Tana Africa Capital has a port…

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African startups drew record US$5.2bn in venture capital last year, industry group says

19 April 2022

JOHANNESBURG, April 18 (Reuters) - African start-ups attracted a record $5.2 billion in venture capital last year, bouncing back from a pandemic-induced dip in 2020 with a nearly five-fold increase in investments, according to data released by an industry…

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African startups get record funding as analysts warn UK investors are missing out

19 April 2022

Moove bagged $105m recently to scale its vehicle financing product CITY AM: African startups received record funding last year as international venture capital poured into the continent’s booming tech sector – but analysts have warned UK inve…

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AfricInvest and IFC invest in AutoXpress

13 April 2022

AfricInvest, a leading investment platform in Africa, has a acquired a 36% stake in AutoXpress, the largest importer, distributor and retailer of tyres, auto parts and accessories operating in Kenya, Rwanda, Tanzania and Uganda. The investment has been ma…

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IFC Invests in Algebra Ventures to Support Egyptian Tech Startups and Drive Innovation

10 April 2022

Cairo, Egypt, April 10, 2022—To support tech startups with access to finance and drive innovation and job creation primarily in Egypt, IFC today announced an investment in the second fund from venture capital firm Algebra Ventures. IFC's $15 million inve…

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Swedfund announces an additional investment in African Rivers Fund 3

06 April 2022

Swedish Development Finance Institution Swedfund announces an additional investment of 4.45 MUSD in African Rivers Fund 3 (ARF 3) increasing Swedfund’s total commitment to 14.45 MUSD. ARF 3 primarily provides loan & equity financing to small and med…

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April Industry News

04 April 2022

A collection of news across the African private equity and venture capital industry | XSML reaches hard cap for African Rivers Fund III at USD 85 million XSML, a fund manager active in Central & East Africa, has reached the hard cap for its African …

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IFC backs beverages company in Sierra Leone

01 April 2022

SIERRA LEONE – Kings Beverages, a soft drinks and fruit juices producer in Sierra Leone, has received a US$5m financial backing from international financial institution, IFC, and the Global Agriculture Food and Security Program, GAFSP. The loan, comprisi…

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Meridiam signs the contract for the first electric bus in Africa in Dakar

21 March 2022

Meridiam has just signed the concession contract for the Bus Rapid Transit (BRT) project in Dakar. This project, that Meridiam will implement with its partners Keolis and Fonsis is the first of its kind in Africa[1], and represents a total investment of m…

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AfricInvest FIVE joins mobility fintech Moove’s latest US$105m Series A2 funding round

14 March 2022

AfricInvest FIVE joins mobility fintech Moove’s latest US$105m Series A2 funding round AfricInvest, a leading investment platform in Africa, is joining mobility fintech Moove’s latest US$105 million Series A2 equity and debt financing round through its I…

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AfricaGoGreen Fund receives over $30 million investments from the African Development Bank, the Sustainable Energy Fund for Africa, and the Nordic Development Fund

10 March 2022

The African Development Bank and the Bank’s Sustainable Energy Fund for Africa (SEFA) have approved a combined-equity investment of $20 million in the AfricaGoGreen Fund(le lien est externe), a debt fund established to promote private investments in energ…

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IFC participates in $13.5M Antler East Africa Fund

10 March 2022

Early-stage investor Antler closed its oversubscribed East Africa investment fund at USD 13.5 Mn to continue to support early-stage tech start-ups in the region. The bumper investment round drew participation form leading investors such as Baillie Gifford…

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CDG Invest backs Freterium

17 February 2022

Freterium raises $4 million Seed Morroco-based digital trucking software startup Freterium, has raised $4 million in a Seed round led Partech, with participation from Y Combinator, Flexport, CDG Invest, Swiss Founders Fund, Outlierz Ventures, and angel…

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Janngo fund receives additional investment from EIB

16 February 2022

In the wake of the EU-Africa Business Forum, the European Investment Bank (EIB) has announced an additional €10 million through a first-loss equity investment in the Janngo Capital Start-up Fund as a flagship fund of the Boost Africa initiative.

This inv…

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PE firms Catalyst, Metier in partnership

03 February 2022

Private equity firm Catalyst Principal Partners has entered into a partnership with South Africa’s Metier Private Equity International in a deal that will see the latter manage two of the former’s funds worth Sh31.6 billion.

The two firms did not disclos…

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OZÉ raises $3M to expand Digital Recordkeeping and Financial Services for African Businesses

26 January 2022

ACCRA, GHANA - JANUARY 26th 2022: OZÉ, the fintech startup which provides digital recordkeeping tools with embedded finance products to MSMEs across West Africa, announces it has raised $3M via a pre-Series A round led by major venture capital fund, Speed…

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TLcom Capital backs SeamlessHR, a startup building cloud HR and payroll solutions across Africa

17 January 2022

The funding round led by TLcom Capital will accelerate SeamlessHR’s next phase of growth and international expansion. Lagos, Nigeria - SeamlessHR, the leading human resources (HR) and payroll technology company in Africa, announces it has raised $10 mill…

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AfDB Board approves EUR10.5mn investment in tech startup fund to boost innovation across Africa

02 January 2022

The Board of Directors of the African Development Bank Group has approved an equity investment pool of EUR10.5mn toward the first close of the Janngo Start-Up Fund, a pan-African tech start-up fund. The pooled funds comprise EUR7mn provided by the Africa…

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Aruwa Capital Management invests in CrowdForce

01 January 2022

Aruwa Capital Management (“Aruwa”), an early-stage growth equity and gender lens fund investing in Nigeria and Ghana is pleased to announce an investment into CrowdForce (the “Company”), a financial services distribution platform facilitating delivery of …

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GreenTec expands Logisticstech portfolio with investment in ShapShap

06 December 2021

Frankfurt (Germany) and Lagos (Nigeria) - November 2021: GreenTec Capital Partners have announced their investment and signing of a collaboration agreement with ShapShap, a Nigerian logistics platform focusing on deliveries in Africa’s fragmented logistic…

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Thoughts on the Andela unicorn round

29 October 2021

Andela has recently announced a US$200mn Series E financing round led by SoftBank at a pre-money valuation of US$1.5bn.   The relevance of this event for the African venture capital ecosystem is significant from several perspectives.   First and foremos…

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Africa REN launches the construction of the largest solar plant in Burkina Faso

22 October 2021

Ouagadougou, Burkina Faso, October 20, 2021 - Africa REN, a pioneer in clean infrastructures in Africa, announces it has launched the construction of the Kodeni Solar power plant, near Bobo-Dioulasso, in Burkina Faso. With an installed capacity of 38MW, K…

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Adenia acquires leading grower of premium roses in Kenya

19 October 2021

Nairobi, Kenya, 13 October 2021   Adenia Partners, a private equity firm investing in Africa, has acquired a majority stake in Altilands SA, the parent company of Red Lands Roses (“Red Lands”), a leading grower of premium fresh-cut roses in Kenya. Red L…

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FMO Supports Lendable’s $100 million Emerging Market Fintech Fund Launch Alongside Leading Impact and DFI Investors

14 October 2021

The Hague, 13 October 2021 - Lendable Inc., a leading emerging market fintech credit provider, is targeting a ground-breaking US$100mn closed-ended fund focused on emerging and frontier market fintech investments, with FMO, the Dutch entrepreneurial devel…

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African infrastructure investment managers to increase access to clean energy with ZAR5.5bn fundraise for ideas fund

12 October 2021

Cape Town, 14 October 2021 – African Infrastructure Investment Managers (AIIM), one of Africa’s largest infrastructure-focused private equity fund managers, has successfully completed a capital increase of ZAR5.5bn (c.US$370mn) for its flagship SADC in…

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Weekly Digest 10

06 October 2021

A collection of news across the African private equity and venture capital industry | DPI raises one of the largest Africa funds at US$900mn to invest in innovation-led companies Development Partners International (DPI) announced that the African Develo…

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Weekly Digest 9

29 September 2021

A collection of news across the African private equity and venture capital industry | ReelFruit raises US$3mn in Series A funding round led by Alitheia Capital Alitheia IDF led the round and invested US$2mn while other investors included Samata Capital …

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Cathay AfricInvest Innovation Fund leads 54gene's US$25mn Series B round

27 September 2021

54gene, the health technology company advancing African genomics research for improved global health outcomes, has secured US$25mn in a Series B round, led by Cathay AfricInvest Innovation Fund. The round also included participation from Adjuvant Capital,…

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Àrgentil’s clean energy portfolio company FMGSL, achieves first financial closing

24 September 2021

Àrgentil Capital Management Limited (“Àrgentil or ACML”) has successfully achieved a financial closing for First Modular Gas Systems Limited (“FMGSL”), a clean energy company founded by the firm alongside Dharmattan Gas Facilities Limited. This allows FMG…

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Weekly Digest 8

22 September 2021

A collection of news across the African private equity and venture capital industry | Cartona raises US$4.5mn in funding  Cartona, the Egypt-based B2B platform connecting retailers to manufacturers and wholesalers, has successfully raised US$4.5mn in it…

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Weekly Digest 7

15 September 2021

A collection of news across the African private equity and venture capital industry | SunFunder invests US$4mn into off-grid solar company SunFunder, which provides debt financing for solar enterprises working in emerging and frontier markets, announced…

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Weekly Digest 6

08 September 2021

A collection of news across the African private equity and venture capital industry | Cropnuts, backed by DOB Equity, launches AgViza, a new disruptive AI platform, designed to make soil testing more affordable for African farmers Crop Nutrition Laborat…

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Weekly Digest 5

01 September 2021

A collection of news across the African private equity and venture capital industry | Sequoia Heritage, Stripe and others invest US$200mn in African fintech Wave at US$1.7bn valuation Wave, the U.S. and Senegal-based mobile money provider, has raised US…

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AVCA announces blended training academy to upskill Africa-focused private capital professionals

25 August 2021

London, August 25, 2021: To bolster economic and social growth in Africa, the African Private Equity and Venture Capital Association (AVCA) has announced the establishment of the AVCA Training Academy (“AVCA Academy”) to provide private investment profe…

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Weekly Digest 4

25 August 2021

A collection of news across the African private equity and venture capital industry | OPay raises US$400mn in a funding round led by SoftBank Chinese-backed and Africa-focused fintech company OPay raised US$400mn in new financing led by SoftBank Vision …

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Weekly Digest 3

18 August 2021

A collection of news across the African private equity and venture capital industry | Acumen closes US$58mn impact fund, the first to drive climate adaptation for smallholder farmers The Acumen Resilient Agriculture Fund (ARAF) closed in June 2021. This…

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Weekly Digest 2

11 August 2021

A collection of news across the African private equity and venture capital industry | Old Mutual PE fund backs Malawian macadamia producer Africa Merchant Capital (AMC) Advisory advised the management team at Gala Agriculture Company, a macadamia planta…

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IFC invests in Vantage Capital’s mezzanine fund to support fast-growing companies in Africa

12 July 2021

Amid growing demand for funding for Africa's underserved medium-sized companies, IFC today announced an investment in a new mezzanine fund managed by Vantage Capital, a leading mezzanine funding provider on the continent, which will provide capital to fas…

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Alitheia Capital leads pre-Series B funding round in fintech startup, Lidya

12 July 2021

Nigerian fintech and lending startup Lidya has announced that it has completed its US$8.3 million pre-Series B funding round.  Alitheia Capital led the investment through its uMunthu Fund with the participation of Bamboo Capital Partners, Accion Venture …

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Record volume of VC deal activity in Africa in 2020 demonstrates growing investor interest in innovative startups

07 July 2021

Volume of total reported venture capital deals in Africa in 2020 rose to 319 from 140 in 2019 Financials remains the most attractive sector for VC investment, followed closely by Information Technology Despite decrease in value of VC deals in 2020, Af…

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Kofo Sanusi appointed Chief Operating Officer

10 May 2021

We are pleased to announce the appointment of Kofo Sanusi as the Association’s new Chief Operating Officer. Kofo brings over a decade of experience in strategic business and operational planning, and financial management. She has worked across Africa, …

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TLcom Capital Founder discusses need for greater investment in Africa

28 April 2021

Ally Mwakaneno of Kenya Wall Street talks to TLcom Founder and Managing Partner Maurizio Caio on the characteristics of a great investment, why Africa’s young startup ecosystem needs more venture capital, and what is likely to be the next giant after fint…

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Steady rise in deal volume indicative of investor confidence in Africa’s economic resilience

29 March 2021

29 March 2021, London: Today, the African Private Equity and Venture Capital Association (AVCA) announced the release of its 2020 Annual African Private Equity Data Tracker report. The anticipated annual report provides data and analysis on private equity…

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CDC invests in Adjuvant Capital venture fund to improve global public health

18 February 2021

CDC Group has today announced its investment in a US$300 million fund from Adjuvant Capital focused on accelerating the development of medical innovations for historically overlooked public health challenges. Launched in 2019, Adjuvant’s debut fund will s…

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LeapFrog Investments Makes Three Leadership Appointments, Following Record Fundraise

23 July 2020

LeapFrog Investments Makes Three Leadership Appointments, Following Record Fundraise Experienced leaders will drive strong returns and governance for the leading impact investor LeapFrog Investments, the Profit with Purpose investment group whose compan…

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AVCA Board appoints Dara Owoyemi as Interim CEO

21 July 2020

London, United Kingdom: 21 July 2020: Today, the Board of Directors of the African Private Equity and Venture Capital Association (AVCA) announce the appointment of Dara Owoyemi as Interim CEO, following the departure of Michelle Kathryn Essomé last month…

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IFC Supports Access Bank with US$50mn Loan to Strengthen Local Businesses in Nigeria in the Wake of COVID-19

20 July 2020

IFC, a member of the World Bank Group, is providing a loan of up to US$50mn to Access Bank Plc to help the bank increase liquidity to thousands of small and medium-sized enterprises (SMEs) in Nigeria which are navigating the economic challenges of COVID-1…

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IFC’s US$12mn Loan for Steel Plant in Ghana to Create Jobs, Support Skills

16 July 2020

IFC, a member of the World Bank Group, today announced a US$12mn loan to Rider Iron and Steel Ghana Limited to support the company’s construction of a steel manufacturing plant that will increase Ghana’s domestic steel production, creating thousands of di…

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AVCA featured on CNBC Africa's Power Lunch

13 July 2020

'Tokunboh Ishmael, Chair of AVCA's Board, Co-Founder & Managing Director, Alitheia Capital speaks with CNBC Africa on Africa booming venture capital industry.  To watch the full interview, please click here.

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AVCA speaks with Venture Capital Journal (Subscription Content)

08 July 2020

Alexia Alexandropoulou, Research Manager at AVCA speaks with Rebecca Szkutak, Reporter at Venture Capital Journal on AVCA's latest Venture in Africa report.  To read the full interview, please click here.

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CDC Group commits US$100mn into Helios Investors IV

07 July 2020

Establishes stronger partnership with premier African private equity manager and presents an opportunity to collaborate on co-investment opportunities Supports efforts to mobilise capital to African businesses and continued investment in companies acro…

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AVCA featured on Classic Business

06 July 2020

Alexia Alexandropoulou, Research Manager at AVCA spoke with  Michael Avery of the Classic 1027 radio show, Classic Business on Africa's venture capital industry's hot sectors and participating investors.  Listen to the full interview here.

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CDC Group commits US$50mn to AfricInvest Fund IV

02 July 2020

CDC Group and Finnfund today announce a US$70mn commitment to AfricInvest Fund IV, a generalist pan-African fund aiming to foster the growth of African enterprises across the continent. CDC, the UK’s impact investor and development finance institution, co…

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IFC, IFU and Proparco invest US$108.5mn into North African healthcare company Humania

30 June 2020

IFC, a member of the World Bank Group, IFU, the Danish Investment Fund for Developing countries, and PROPARCO, member of the Agence Française de Développement (AFD) group, are providing an equity financing package of up to US$108.5mn to Humania, a priva…

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IFC approves US$25mn investment into Lorax II fund

26 June 2020

IFC approves US$25mn investment into Lorax II fund. To read more, please click here.  -END-

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Proparco commits US$30mn into Africinvest Fund IV

25 June 2020

Through a US$30mn investment in the first close of AfricInvest’s new multisector private equity fund, Proparco will support the development of strong local and regional consumer-driven businesses across Africa. AfricInvest is one of the pione…

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IFC invests EUR10mn into Tunisian Date Exporter VACPA

25 June 2020

IFC, a member of the World Bank Group, is providing EUR10mn in financing to Tunisian date processing company VACPA, part of an effort to preserve jobs, especially for women, amid the COVID-19 pandemic.The company, the country’s largest exporter of dates, …

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Inside Capital Partners announces fifth investment

23 June 2020

In line with its vision to better manage the environment and support the socio-economic uplifting of the Region where it operates, Inside Equity Fund has committed to invest US$2.75mn in Alpha to finance the doubling of its waste collection and processing…

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Proparco co-invests in the development of the first green mall in Central Africa

18 June 2020

Like many cities in Sub-Saharan Africa, Douala, the economic capital of Cameroon (4 million inhabitants), is experiencing rapid population growth, especially among the middle class, and a strong urban transformation. Changes in consumer habits and the i…

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IFC Provides Loan to Nigeria’s Zenith Bank to Support SMEs, Address Challenges Related to COVID-19

16 June 2020

IFC, a member of the World Bank Group, today announced a loan of up to US$100mn in Nigeria’s Zenith Bank Plc to help it increase support to clients and companies whose cash flows have been disrupted by challenges caused by the COVID-19 pandemic.IFC’s loa…

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CDC Group signs partnership memorandum with Rwanda Finance for the Development of the Kigali International Financial Center

16 June 2020

New financial center designed to support inward investment into Africa CDC to play key advisory role in creating new legal framework for financial hub CDC Group, the UK’s development finance institution and impact investor, today signed a pa…

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AVCA featured in Africa Global Funds (Subsription Content)

16 June 2020

AVCA's Head of Research & Training, Enitan Obasanjo-Adeleye discusses the findings of AVCA's research on climate change, the implications of climate change on Africa's PE ecosystem and the role African PE can play in reducing the risks of climate chan…

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The PPE of Overseas Development Assistance

16 June 2020

Written by 'Tokunboh Ishmael, Managing Partner, Alitheia IDF To see the original article, please click here Politics, Philosophy and Economics of ODA in a time of COVID-19 In these unprecedented times, development assistance must shed the skin of its…

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Sanlam launches urgent job-preservation initiative in response to COVID-19

10 June 2020

Sanlam Investments is responding to the COVID-19 pandemic through large-scale support of the recovery of South African companies, from small enterprises to corporates that employ a large number of people. Sanlam has committed R2.25bn of its own capital to…

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Proparco co-invests in Ethiopian FMCG Platform

08 June 2020

This operation is Proparco's first mezzanine transaction in Ethiopia and will support job creation, the development of local agribusiness, import substitution and economic growth in the country. Proparco and Ethos Mezzanine Partners have announced a …

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IFC commits up to US$30mn to AfricInvest Fund IV

04 June 2020

IFC, a member of the World Bank Group, has invested up to US$30mn in AfricInvest Fund IV. Read more.

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AfricInvest recieves US$30mn commitment from U.S. International Development Finance Corporation

04 June 2020

Projects support developing countries reeling from COVID-19 and include first transactions using equity and technical assistance The U.S. International Development Finance Corporation (DFC) Board of Directors has approved US$1bn of investments that will …

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EIB approves debt investment of US$10mn into the InsuResilience Investment Fund

02 June 2020

EIB approves debt investment of US$10mn into the InsuResilience Investment Fund managed by Blue Orchard. Read more

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CDC Group announces co-investment in mPharma under Venture Scale-Up Programme

01 June 2020

The deal is one of the first investments under CDC’s Venture Scale-up Programme  mPharma aims to dramatically reduce the cost of essential medicines in Africa, making quality healthcare affordable and accessible to all consumers in Africa  To …

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Swedfund supports healthcare actors in Nigeria, Madagascar and India with Covid-19 related emergency response

26 May 2020

The pressure on healthcare facilities is greatly increasing in developing countries as the Covid-19 virus spreads. Based on long experience of working with sustainable investments in developing countries Swedfund supports different actors in the healthcar…

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​Swedfund supports SMEs in East Africa with EUR5mn

22 May 2020

In order to support small and medium-sized companies following the Covid-19 outbreak the Swedish Development Finance Institution, Swedfund, now increases the liquidity available to these companies by lending 5 million EUR to Platcorp, a financial institut…

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Pearl Capital Partners Invests UGX 4.6bn in NASECO

22 May 2020

Pearl Capital Partners, which manages the Yield Uganda Investment Fund, has made a seventh investment of UGX 4.6bn (ca. US$ 1.2m) in Naseco (1996) Limited (NASECO). NASECO, which has had operations for over 20 years, produces, processes and distributes ce…

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Flourish Ventures leads Series A round in Apollo Agriculture

21 May 2020

Africa’s agricultural output is much lower than its potential. Africa has a quarter of the world’s agricultural land but produces less than a tenth of its food. In comparison, China has 10% of the agricultural land and produces 20% of the world’s food sup…

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RENEW Make Follow-on Investment in Ethiopia’s #1 Online Food Delivery Company

21 May 2020

RENEW and the Impact Angel Network Make Follow-on Investment in Ethiopia’s #1 Online Food Delivery Company in Response to Spike in Demand Due to COVID-19 Members of RENEW's Impact Angel Network (IAN) have funded a third investment in Roadrunner Technol…

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7 Reasons Why We’re Still in Ethiopia During the Crisis

21 May 2020

By Tom Scriven CFA, Partner & General Counsel, RENEW    In our latest white paper, we outline seven reasons why RENEW believes a ‘stay the course’ approach to investing in SMEs in Ethiopia is the best response both to the economic crisis created b…

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Alitheia IDF receives US$10mn commitment from the Soros Economic Development Fund (SEDF)

08 May 2020

The Open Society Economic Justice Program, via its impact investing arm, the Soros Economic Development Fund (SEDF), has committed $15 million to two women-led investment funds that advance economic and gender equity. These investments—US$10mn in Alithei…

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Covid-19: "In Africa, investment funds with a local footprint have a great advantage"

06 May 2020

La Tribune Afrique interviews AVCA's Head of Research and Training, Enitan Obasanjo-Adeleye. Read more

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Proparco invests US$20mn in SPE AIF I fund to support SMEs in North Africa

30 April 2020

Through a US$20mn equity investment in the SPE AIF I investment fund, Proparco supports SMEs undergoing periods of strong growth or transition, in the industrial, health and education sectors in Egypt, Morocco and Tunisia. SPE AIF I is a private equi…

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Àrgentil Capital Partners backs the development of COVID-19 Mobile Testing Laboratories in Nigeria 

29 April 2020

Àrgentil Capital Partners (“Àrgentil”) is providing support to a number of initiatives to help with the healthcare emergency created by the COVID-19 pandemic. This has seen us provide financial resources to pay for a full complement of medical staff at on…

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TLcom Invests US$1mn Pre-Seed Funding into Okra

27 April 2020

Nigerian fintech platform Okra has secured a US$1mn pre-seed fundraise from TLcom Capital, strengthening its push to build the infrastructure for Africa’s next wave of fintech innovation. With the first API in Africa to retrieve real-time financial data f…

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Standard Bank takes 40% stake in Payment24

24 April 2020

Standard Bank has acquired a 40% stake in the digital fuel management solutions and telematics company Payment24 Group. Payment24 Group is a technology development firm that supports companies with large fleets. Launched just over five years ago to fill …

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Impact Investing: Profit with Purpose

10 April 2020

Written by 'Tokunboh Ishmael, Managing Partner, Alitheia IDF Impact Investing seeped into the conscience of the investing ecosystem over a decade ago and refers to the varying degrees that investments can deliver positive social, developmental, econom…

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African Development Bank Group unveils US$10 bn Response Facility to curb COVID-19

08 April 2020

The African Development Bank Group on Wednesday announced the creation of the COVID-19 Response Facility to assist regional member countries in fighting the pandemic. The Facility is the latest measure taken by the Bank to respond to the pandemic and wil…

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The African Development Bank enters the capital of the investment fund Yeelen Financial Fund LP

12 March 2020

The Board of Directors of the African Development Bank approved, Thursday, March 11 in Abidjan, a stake of EUR12mn in the capital of the Yeelen fund dedicated to the financial sector. Yeelen Financial Fund LP is a 12-year investment fund domiciled in Mau…

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CNBC Africa interviews AVCA’s Head of Research and Training

11 March 2020

CNBC Africa discusses the findings of our new African Private Equity Industry Survey with Enitan Obasanjo, AVCA’s Head of Research and Training. Watch it here

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Fintech TerraPay raises $9.6 million from IFC and Partech

03 March 2020

TerraPay announced today that a consortium of investors, including Prime Ventures, Partech Africa and management acquired the company for an undisclosed sum. In addition, the same investors, joined by IFC, invested US$9.6 mn in TerraPay to fund the compan…

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Partech leds US$2mn Seed Round Investment in Gebeya inc.

06 February 2020

Encouraging further development of the African tech scene, the online software outsourcing Marketplace company Gebeya have secured a $2 Million dollar seed round investment co-led by Partech and Orange Digital Ventures and followed by Consonance Investmen…

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CDC Group makes US$15mn commitment to TLcom’s TIDE Africa Fund

20 January 2020

CDC Group, the UK’s development finance institution and impact investor, has committed US$15mn to TLcom’s TIDE Africa Fund to support early-stage high-growth start-ups across sub-Saharan Africa (SSA). With a presence in the key financial hubs of Lagos an…

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DEG invests EUR30mn into AfricaGrow Fund of Funds for African SME and VC funds

27 November 2019

DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH is supporting African small and medium-sized enterprises and start-ups to gain access to long-term financing more easily. It has committed EUR30mn to the AfricaGrow fund of funds, managed by Al…

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FMO Ventures Program signed at Africa Investment Forum

11 November 2019

EUR40mn in guarantees for FMO’s innovative early-stage investment program Today, at the Africa Investment Forum in Johannesburg, FMO and the European Commission (EC) signed the guarantee agreement for the FMO Ventures Program. The EC has provided EUR40mn…

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African Development Bank inks EUR12.5mn deal with Adiwale Fund for SMEs

18 October 2019

The African Development Bank on Thursday signed off on its EUR12.5mn equity investment in Adiwale Fund 1, a first-generation private equity fund targeting high growth potential Small and Medium Sized Enterprises (SMEs) in francophone West Africa. The Ban…

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Climate-smart private equity investors take leadership in Africa

15 October 2019

Climate change poses an existential threat to our societies. Nowhere is this more apparent than in Africa – the most vulnerable continent to climate change, both in terms of impact and ability to mitigate damage... read more.

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Verod Capital Exits UTL Trust Management Services Limited

09 October 2019

Verod Capital Management Limited (Verod) is pleased to announce, via its sophomore fund, Verod Capital Growth Fund II LP (Fund II), that it has completed an agreement and received regulatory approvals to fully exit its ownership of UTL Trust Management Se…

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Flourish Ventures leds £10mn Series Funding Round of Digital Banking Startup FairMoney

16 September 2019

FairMoney, a Paris-based fintech startup, has closed a $10 million-euro Series A round of investment led by Flourish, a venture of The Omidyar Group, the partners of DST Global, and existing seed investors Newfund, Speedinvest, and Le Studio VC. Launched …

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AHL Venture Partners leads an equity investment in Kenyan company Crop Nutrition Laboratory Services Limited

17 July 2019

AHL Venture Partners, a leading impact investment firm in East Africa, has today announced, acting as lead investor, an equity investment in a Kenyan company, Crop Nutrition Laboratory Services Limited (“Cropnuts”). The investment is a co-investment with …

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Kasada Capital Management raises over US$500mn for new hospitality fund dedicated to Sub-Saharan Africa

26 April 2019

Sub-Saharan hospitality investment platform Kasada Capital Management has reached a first close on its maiden fund Kasada Hospitality Fund LP with equity commitments of over USD 500 million. This is in line with a first announcement disclosed in July 2018…

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Partech announces the final closing of its Partech Africa fund above hard cap at EUR125mn

31 January 2019

Partech announces the final closing of its Partech Africa fund at €125 M ($143 M) above its hard cap and establishes East Africa presence. The Partech Africa Fund achieves a final closing at €125M, more than double the size of its first closing a year …

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FMO ventures into Ethiopia with First Microfinance Loan Guarantee to Tackle Financial Exclusion in Rural Areas

18 December 2018

The Hague, 18 December 2018 - Dutch development bank FMO has taken its first step into the financial sector of Africa’s second most populous country, with the extension of a 65% partial guarantee on a BIRR 108mn (US$ 4.0mn) loan by the Commercial Bank of …

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GTR Ventures invests in Orbitt

02 November 2018

London/Singapore – October 30 2018: GTR Ventures, the world’s first investment and venture-building platform specialised in trade and supply chain, has announced an investment in Orbitt – a pan-African focused fintech deals platform. Orbitt connects inve…

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FMO Participates in USD 16 Million Funding Round for South African Point of Sale Payments Provider Yoco September 6, 2018

06 September 2018

FMO will co-invest USD 1.7 Million alongside Accion Frontier Inclusion Fund, managed by Quona Capital, in South African-based Point of Sale payments Provider Yoco in a joint funding round totaling USD 16 Million. It marks the first direct equity investmen…

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TLcom Capital raises US$40mn for new Africa tech fund

23 June 2018

Nairobi, Lagos, London - TLcom Capital (TLcom), the VC fund started in London two decades ago with over US$300mn under management and tech investments spanning Europe, Israel and the US, today announced that commitments to the TIDE Africa Fund have hit US…

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Oasis Capital Ghana Limited closes Oasis Africa venture capital fund

14 May 2018

Accra, Ghana - May 14th 2018 - Oasis Capital Ghana, a West African private equity fund manager, announces the final closing of its second fund, the Oasis Africa VC Fund (“Fund II”), at US$50.5mn at 31st December 2017. The fund will invest in Small and Med…

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IFC Venture Capital Leads US$8.6mn Series A Investment in Africa’s Talking, Supporting Disruptive Technologies in Sub-Saharan Africa

26 April 2018

IFC, a member of the World Bank Group, today announced that it led the US$8.6mn Series A equity investment in Africa’s Talking, a Kenyan based communication-platform-as-a-service (“cPAAS”) API startup, to enable the startup to expand its footprint across …

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Vakayi Capital announces first investment in Zimbabwe

03 October 2017

Vakayi Capital, a venture capital firm, has availed about US$400,000 to Homelux Property Development which will go towards the development of residential stands in Tynwald Harare. Vakayi is an SME-focused fund which was established last year. It has to da…

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TLcom reaches first close for VC Fund at US$40mn

26 June 2017

TLcom Capital, the VC fund started in London two decades ago with over US$300mn under management and tech investments spanning Europe, Israel and the US, today announced that commitments to the TIDE  Africa Fund have hit US$40mn. TIDE Africa is the first…

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Oasis Capital Ghana invests in Everpure Holdings

28 April 2017

Oasis Capital Ghana, managers for Ebankese Venture Fund (EVF) and Oasis Africa VC Fund (OAF), are pleased to announce their investment in Everpure Holdings Ltd (Everpure), a water bottling company operating in Ghana. The investment was made out of OAF, an…

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IFC, Omidyar, Quona and Lundin Foundation invest in Zoona

22 August 2016

African financial technology company Zoona has successfully raised US$15mn (ZAR200mn) in a second round of financing. This Series B round is led by the International Finance Corporation (IFC), a member of the World Bank Group, and will help Zoona scale up…

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CDC to launch 14Trees, a joint venture to bring low-carbon, affordable housing materials to developing countries

22 July 2016

CDC Group plc (CDC), the UK’s development finance institution, and LafargeHolcim have today announced the creation of 14Trees, a joint-venture that aims to accelerate the production and commercialization of Durabric - an environmentally-friendly, affordab…

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AVCA announces changes to Legal & Regulatory Committee

17 June 2016

London, UK, 2 June 2016: The African Private Equity and Venture Capital Association (AVCA) today announce a series of changes to the leadership and membership of its Legal & Regulatory (L&R) Committee. Folake Elias-Adebowale, Partner at Udo Udoma…

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Old Mutual acquires 100% of AIIM

25 November 2015

Cape Town, South Africa, 25 November 2015: Old Mutual Alternative Investments (OMAI), a boutique of Old Mutual Investment Group, has announced an agreement to acquire the 50% of African Infrastructure Investment Managers (AIIM) that it does not already ow…

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