A collection of news across the African private equity and venture capital industry |
Ata Capital completes management buyout of RCA from South Africa's Ascendis Health
Ata Capital (Pty) Ltd (“Ata Capital”), a leading private equity (“PE”) investment management firm and Respiratory Care Africa Pty Ltd (“RCA”), a medical devices supplier, are pleased to announce the successful completion of the management buyout (MBO) of RCA from South African healthcare group Ascendis Health (“Ascendis”). The MBO was financed through Ata Capital’s latest BEE value fund, Ata Fund III and makes the PE firm a majority shareholder.
Source: Lifa Communications
Nigeria’s E-Settlement (E-SL) acquires Cote d’ Ivoire’s QuickCash
E-Settlement (E-SL), Nigeria's pioneering fintech group, is pleased to announce it has signed an agreement to acquire QuickCash, an Ivorian electronic payment and money transfer company promoting financial inclusion of rural populations and those operating in the informal sectors of Côte d'Ivoire, Burkina Faso, Niger, Togo and more.
Source: Africa Practice
Kigali International Financial Centre (KIFC) announces domiciliation of Virunga Africa Fund I – a US$250mn Pan-African fund
The Kigali International Financial Centre, Africa’s leading destination for compliant and professional financial services and cross-border investments, announces the establishment of the US$250 million Virunga Africa Fund I. The Fund will invest in vital sectors that will drive economic and social transformation across the African continent. The two anchor investors of the Virunga Africa Fund I are the Qatar Investment Authority (‘QIA’) and Rwanda Social Security Board (‘RSSB’). The Fund is managed by Admaius, an independent investment firm comprising one of the most experienced pan-African investment teams working on the ground.
ShipBlu closes seed funding round for US$2.4mn
ShipBlu, a platform that is redefining the e-commerce shipping and fulfillment experience in Egypt, has raised $2.4 million in its latest seed round. The new funds will help ShipBlu grow its service offering and coverage across Egypt.
OP Finnfund Global Impact Fund fund participates in Twiga’s US$50mn fundraise
OP Finnfund Global Impact Fund I, the first global emerging markets impact fund in Finland, invests 3 million US dollars in Kenyan headquartered B2B e-commerce food distribution platform Twiga. OP Finnfund Global Impact Fund I joins a group of investors, led by Creadev, in a financing package totalling 50 million US dollars.
Opibus secures Sub-Saharan Africa’s largest ever fund raise in electric mobility (US$7.5mn)
Opibus, an electric vehicle manufacturer, has raised $7.5 million in funding led by Silicon Valley fund At One Ventures, further supported by Factor[e] Ventures and Ambo Ventures. Opibus, which has existing customers across six countries in Africa, is a provider of electric vehicles designed and manufactured locally. Its vision is to create reliable and cost effective products designed for the pan-African mass-market.
Breadfast raises US$26mn in series A funding round
Breadfast, an Egypt based grocery delivery platform, has secured US$26mn in a series A round, co-led by Vostok New Ventures and Endure Capital. The round included participation from JAM Fund, YC Continuity Fund, Shorooq Partners, 4DX Ventures and Flexport. This investment round brings Breadfast’s total investment to date to more than US$33mn since it launched in 2017 and one of the largest in the region so far in 2021.
Source: Africa PE News
Payhippo lands US$3mn seed funding
Nigeria’s lending startup Payhippo has raised $3 million in a seed round, funding the company plans to use in sourcing the talent needed to optimize its technology as it ramps up effort to extend speedy credit to more small and medium-sized enterprises (SMEs) in the West African country.
Source: Tech Crunch
OP Finnfund Global Impact Fund I invests in Moroccan healthcare group
OP Finnfund Global Impact Fund I, the first Finnish global emerging markets impact fund has invested USD 10 million in equity in CIM Santé Group, a leading Moroccan private healthcare group. Through this investment, OP Finnfund Global Impact Fund I aims to foster the development of Morocco’s healthcare sector, accessibility to quality care, and support gender equality in the sector.
Kigali International Financial Centre (KIFC) announces domiciliation of Virunga Africa Fund I – A US$250mn Pan African Fund
The Kigali International Financial Centre, the destination of choice for compliant and professional financial services and cross-border investments in Africa, announces the establishment of the $250 million Virunga Africa Fund I (the ‘Fund’), which will invest in vital sectors that will drive economic and social transformation across the African continent.
Mahlako Financial Services announces a first of its kind R1.5bn energy fund
Recognising the energy infrastructure gap in South Africa and the need to transform the sector, Mahlako Financial Services, a subsidiary of the Mahlako a Phahla Investments, announces its maiden R1.5bn energy fund that seeks to invest in businesses and energy projects with great growth potential along the entire value chain.
Source: Mahlako Financial Services
Semicolon closes a US$1.2mn seed funding round
Semicolon Africa has closed a US$1.2mn Seed round of funding. The round which was oversubscribed had participation from angels and VCs like Launch Africa Ventures and Consonance Investment Managers.
Source: Semicolon Africa
JUMO raises US$120mn in latest funding round
JUMO, a technology company building next-generation financial services for emerging market entrepreneurs, today announced the successful raise of US$120mn from new and existing investors. The round is led by Fidelity Management & Research Company, LLC, and represents their first investment in emerging markets fintech.
On-demand grocery delivery startup Appetito secures US$2mn pre-Series A funding round
Egyptian grocery delivery startup Appetito has raised US$2mn in pre-Series A funding.The round, which comes after the company’s US$450,000 seed round in April, was led by U.S. and MENA-focused venture capital firm Jedar Capital. Pan-African VC Golden Palm Investments, DFS Lab, some angel investors and family offices also put money into the company.
Source: Tech Crunch
Grindstone Ventures launches US$6.5mn fund targeting South Africa tech startups
Grindstone Ventures has launched a US$6.5mn (R100 million) fund that will offer seed funding to predominantly South African-owned technology startups that have either participated or have completed the Grindstone Accelerator programme.
Source: Tech in Africa
Kenya’s Twiga Food raises US$50mn to scale food solutions across Africa
Since 2014, Twiga Foods has been using technology to build supply chains in food and retail distribution on the continent, starting with Kenya. The seven-year-old company is announcing a US$50mn Series C round to scale its efforts in the East African nation and other neighboring countries.
Source: Tech Crunch
DrugStoc raises US$4.4mn in series A funding
Healthtech startup DrugStoc has raised $4.4 million in series A funding to expand access to quality medicines while providing sustainable supply chain financing for healthcare providers in sub-Saharan Africa. The funding round is led by Africa HealthCare Master Fund (AAIC), and other investors including Chicago-based venture firm VestedWorld and the German development bank DEG.
Source: Tech Crunch
InfraCo Africa, DOB Equity and Mobility 54 announce investment to scale Zembo’s vision for electric mobility in Uganda.
InfraCo Africa, together with a consortium including DOB Equity and Mobility 54, has signed an agreement with Zembo, together committing over €3mn to support the growth of the company’s electric motorcycle business in Kampala, Uganda. The investment will enable the company to grow the number of electric motorcycles on the road by approximately 2,000 and will support development of an additional >60 Zembo charging and battery swapping stations across the city.
Source: InfraCo Africa
Climate Fund Managers announces first close of CI2 fund at US$675mn
Climate Investor Two (CI2) is Climate Fund Managers’ (CFM) second climate-focused, blended finance initiative following the establishment of its first initiative: Climate Investor One (CI1). With a US$1bn target fund size, CI2 will provide expertise, technology, and financing to infrastructure projects in emerging markets by mobilising private sector financing at scale, supported by catalytic public sector donor funding.
Source: Africa PE News
Fintech company Ozow raises US$48mn in Series B funding round
We’re proud to announce our US$48mn Series B funding round, which is led by world-leading internet and technology company Tencent.The investment round also includes Endeavor Catalyst and Endeavor Harvest Fund. Notably, Endeavor Catalyst’s investment committee approval was chaired by partner of Greylock, and co-founder and former executive chairman of LinkedIn, Reid Hoffman.
Africa Health Holdings, secures US$18mn in a Series A round
Africa Health Holdings, a healthcare startup running several hospitals, has secured $18 million in a Series A round, funds that will go toward building its “tech-forward healthcare system” across Ghana, Kenya and Nigeria. The funding round, led by Asia Pacific Land and Natural World Limited, saw the participation of a number of investors including TRB Advisors, Breyer Capital, M3, Inc., Valiant Capital, Kepple Ventures and SUNU Capital.
Source: Tech Crunch
NFTfi raises US$5mn in seed funding round
NFTfi has raised a seed round of US$5mn to continue pioneering the financialization of NFTs. Early-stage crypto fund 1kx led the round, with Ashton Kutcher’s Sound Ventures, Maven 11, Scalar Capital, Kleiner Perkins and others participating.
Source: Tech Crunch« Back to Industry News