Verod Capital Management Closes Fund III at US$200mn

18 Dec 2019

Verod Capital Management (Verod) is pleased to announce the final close of Verod Capital Growth Fund III LP (Verod Fund III), exceeding the initial target, as well as the size of its predecessor fund, Verod Capital Growth Fund II LP (Verod Fund II). Verod Fund III was oversubscribed, closing at its US$200mn hard cap. Verod Fund III is supported by a diverse group of prominent global institutional investors and includes a mix of international fund of funds, asset managers, foundations, sovereign wealth funds, family offices and development finance institutions with extensive experience investing in emerging markets.

Danladi Verheijen, Co-founder and Managing Partner of Verod Capital, noted: “With the current challenges facing the African PE fundraising market, we are very grateful for the confidence that our extremely high caliber set of investors have in our team and differentiated strategy. We look forward to deepening the successful long-term partnership we have with them.”

Eric Idiahi, Co-founder and Partner at Verod Capital, added: “We remain excited about the market prospects and look forward to finding and growing the best businesses in our region, which will generate attractive returns for our investors and positively impact our communities.” 

Similar to Verod Fund II, the investment strategy for Verod Fund III is to focus on middle market growth companies in anglophone West Africa, with the aim of building a diverse portfolio across several industries including light manufacturing, consumer goods and services, business services, agriculture, education, healthcare and financial services. 

Asante Capital acted as global fundraising adviser, Clifford Chance (UK), BLC Chambers (Mauritius) and Udo Udoma & Belo-Osagie (Nigeria) acted as legal advisers, while Trident Trust (Mauritius) will provide administrative services to Verod Fund III.

-END-

« Back to Member News

@ninetyone_sa partially exits its investment in Kamoso Africa. Read more: https://t.co/0w7dwBg3LB

@ActisLLP exits its investment in Ghanaian commercial bank. Read more: https://t.co/kT2j3GeJpd

@CepheusCapital makes investment in East African manufacturing company. Read more: https://t.co/YMHZipeDbI

@AfDB_Group invests US$10mn in Ethiopian power project. Read more: https://t.co/YNJNEFHUvX

@convergence_ acquires 100% of Vodacom’s Africa’s operations. Read more: https://t.co/sItG2PWepL

;