June Industry News

06 Jun 2022


A collection of news across the African private equity and venture capital industry |

HAVAÍC invests US$400000 in Nigeria's retailer, ShopEx

HAVAÍC says it is investing US$400,000 from its US$20 million HAVAÍC Universum Core African Fund. 

Source: Radarr Africa


Betastore gets US$2.5mn to solve stockouts

Betastore eyes Ghana, the DRC and Cameroon markets after raising $2.5 million in pre-series A funding from 500 Global, VestedWorld, ...

Source: TechCrunch


South African calling app start-up Talk360 raises $4m

The seed round of funding was led by leading African venture capital investors Havaíc, 4Di Capital and several prominent fintech angel investors.

Source: Venture Burn


Launch of the new European solidarity financing fund for Africa, FEFISOL II

FEFISOL II is making its first closing at €22.5 million, and a technical assistance package of €1 million from Proparco via FISEA+ with the final objective of raising €6 million. The 2nd closing will be launched in 2023. The first disbursements will be made in July 2022.

Source: EIB


Mauritius-based fintech startup Finclusion Group raises funding from Cairo Angels

Mauritius-based fintech startup Finclusion Group has secured funding from the Cairo Angels Syndicate Fund (CASF), a micro venture capital fund that invests in early-stage startups in the Middle East and Africa.

Source: Disrupt Africa


Spark+ Invests US$4mn in BURN

Spark+ Africa Fund, developed with support from the Clean Cooking Alliance, is a pioneering impact fund investing in access to clean and modern energy solutions for cooking in frontier markets in Africa.

Source: PR Web


Incofin sells its holding in microfinance institution

Incofin Investment Management announced that it has sold the entirety of its stake in a microfinance institution operating in Burkina Faso ...

Source: Africa Capital Digest


Untapped Global raises $10.3mn

Untapped Global has raised a US$10.3 million debt and equity pre-seed round to help it scale its smart asset financing model.

Source: Disrupt Africa


Harith launches US$300mn renewables fund with developer Anergi

South Africa-based Harith General Partners and power developer Anergi Group are seeking outside investors to contribute to the fund, which will invest in both new and brownfield power projects.

Source: African Energy Newsletter


Ghanaian fintech Fido has secured US$30mn in Series A funding led by Fortissimo Capital and Yard Ventures with a view to new products and future expansion.

Ghanaian fintech Fido has raised US$30mn as part of its Series A funding round led by investment firms Fortissimo Capital and Yard Ventures. The investment will support the Accra-based business as it aims to roll out new products and gear towards future expansion throughout Africa.

Source: FinTech



Uganda’s Tugende Closes Pre-Series B Funding

Uganda’s Tugende, a technology-enabled asset finance company that provides asset financing and digital services to small businesses has announced it has raised a pre-Series B investment round led by current shareholder Partech Africa.

Source: The Kenyan Wall Street


EEGF invests in commercial and industrial-focused company Candi Solar

EEGF invests in commercial and industrial-focused company Candi Solar
The Energy Entrepreneurs Growth Fund (EEGF) has recently invested in Candi Solar, a visionary solar energy and clean energy financier for commercial and industrial (C&I) businesses in South Africa and India.

Source: Triple Jump


South Africa: Peter Thiel participates in Zenysis’ $13m funding round

Zenysis will deploy its new investment capital toward building partnerships with governments and local institutions in Africa, Asia and South America

Source: Tech Economy 






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