SAVCA 2017 Case Study Compendium

Fundraising

TLcom raises $40m for TIDE Africa

Author: Africa Global Funds | Date: 2017-06-28

TIDE Africa, an international venture capital fund focused exclusively on technology enabled solutions and innovation serving Sub-Saharan Africa (SSA), has reached its first close of $40m of the $100m target.

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AfDB, CDC, DGGF invest $31m in FAFIN

Author: Africa Global Funds | Date: 2017-06-22

The African Development Bank, CDC Group, and the Dutch Good Growth Fund have jointly committed $31m to the Fund for Agricultural Finance in Nigeria (FAFIN).

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Adenia Capital (IV) closed above target

Author: Africa Global Funds | Date: 2017-05-31

Adenia Partners, a private equity fund manager focused on mid-cap buyouts and growth capital investments in Sub-Saharan Africa, has reached the final closing of Adenia Capital (IV).

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MAREF closes at $170m

Author: Anna Lyudvig | Date: 2017-04-05

The Momentum Africa Real Estate Fund (MAREF) has raised $170m at the final close, receiving commitments from a total of 18 investors including African pension funds, institutions and family offices.

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Catalyst Fund II hits first close at over $100m

Author: Africa Global Funds | Date: 2017-03-27

Catalyst Principal Partners has completed a first close of its Catalyst Fund II at $103m, being in excess of the target fund size and over 80% of the final achieved hard-cap for its first fund, Catalyst Fund I.

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Actis Energy 4 closes at $2.75bn

Author: Africa Global Funds | Date: 2017-03-08

Actis, a growth markets investor, has reached final closing on its fourth energy fund Actis Energy 4 (AE4) with commitments hitting a hardcap at $2.75bn.

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Mediterrania Capital aims to raise €250m for new fund

Author: Africa Global Funds | Date: 2017-03-07

Mediterrania Capital Partners, a private equity firm focusing on growth investments for companies in North African and Sub-Saharan countries, has announced plans to raise €250m for its third fund, Mediterrania Capital III (MC III).

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Apis Growth Fund I closes above target

Author: Anna Lyudvig | Date: 2017-03-06

Apis Partners, a private equity asset manager focused on financial services in the growth markets of Africa and South Asia, has announced the final close of Apis Growth Fund I.

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Agri-Vie Fund II touches first close

Author: Africa Global Funds | Date: 2017-02-01

EXEO Capital, a pan-African private equity investment firm, has raised over $100m for the first close of its Agri-Vie Fund II, focused on the food and agribusiness sector in Sub-Saharan Africa.

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Rocket Internet's Fund reaches final closing

Author: Anna Lyudvig | Date: 2017-01-23

The Rocket Internet Capital Partners fund (RICP) has held its final closing at the hard cap of $1.0bn dedicated to early stage and growth equity investments in the global Internet sector.

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Gulf Credit Opportunities Fund II closed at over $250m

Author: Africa Global Funds | Date: 2016-12-19

Gulf Capital, one of the largest alternative investment firms in the Middle East, has reached the final close of its second private debt and mezzanine fund, Gulf Credit Opportunities Fund II, over its target cover of $250m (AED925m).

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ATAF achieves first closing at $2.8m

Author: Anna Lyudvig | Date: 2016-12-12

The Agroforestry Technical Assistance Facility (ATAF), managed by the Common Fund for Commodities (CFC), has achieved a first closing of $2.8m.

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Averroès Finance III holds interim close

Author: Anna Lyudvig | Date: 2016-11-29

Bpifrance and Proparco have announced a €75m interim closing of the Averroès Finance III fund with the addition of two new investors, Fransabank and Bank Audi.

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Capria Accelerator Fund hits final close

Author: Africa Global Funds | Date: 2016-11-02

Capria, a global impact investment firm, has announced that the Capria Accelerator Fund has reached its final close at $5.2m and is slightly over-subscribed.

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Oasis Africa VC Fund hits first close

Author: Africa Global Funds | Date: 2016-09-16

Oasis Capital Ghana has reached the first close of its second fund, Oasis Africa VC Fund (OAF) at $27m, with commitments from local and international investors.

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CAPE IV gets $570m at final close

Author: Africa Global Funds | Date: 2016-09-07

African Capital Alliance (ACA) has raised a total of approximately $570m of committed capital for its fourth private equity fund, Capital Alliance Private Equity IV (CAPE IV).

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GroTech to raise additional capital

Author: Anna Lyudvig | Date: 2016-08-01

Grovest Tech (GroTech) has re-opened its fund to raise an additional R38m by way of an issue of 38,000 no par value ordinary shares at an issue price of R1,000 per ordinary share.

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Adenia to first close Fund IV in Summer 2016

Author: Anna Lyudvig | Date: 2016-05-05

Adenia Partners, a private equity fund manager focused on growth opportunities and mid-cap buyouts in Sub-Saharan Africa, is aiming to have a first close of its fourth fund this Summer.

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GroVest raises just over $4m for GroTech

Author: Africa Global Funds | Date: 2016-03-24

GroVest, a venture capital firm that invests in innovative technology companies, has raised R62m ($4.01m) in the first round of funding for its GroTech fund with a significant capital injection from Caleo Capital.

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Teranga Capital to address financing needs of Senegalese SMEs

Author: Africa Global Funds | Date: 2016-03-24

Investisseurs & Partenaires (I&P) has launched Teranga Capital, an equity impact investment fund dedicated to promising small growing businesses and start-ups in Senegal, with financing needs comprised between 75,000 and 300,000 euros.

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TVM Capital seeks $300m for new healthcare fund

Author: Africa Global Funds | Date: 2016-03-14

TVM Capital Healthcare Partners has registered a new emerging markets-focused fund, TVM Healthcare III, which intends to raise $300m to invest in up to 12 healthcare companies in the MENA, India, and Southeast Asia.

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Enko gets $83.25m at final close of its Pan-African PE fund

Author: Africa Global Funds | Date: 2016-02-22

Enko Capital Managers (ECM) has reached a $83.25m final close of the Enko Africa Private Equity Fund (EAPEF), a Pan-African fund focused on providing growth capital to late-stage private companies across a broad spectrum of economic sectors in Africa.

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Knife Capital targets 40% ROI with new fund

Author: Africa Global Funds | Date: 2016-02-16

Knife Capital, a South African venture capital firm, has launched KNF Ventures, a new fund dedicated to investing in innovation-driven ventures that aims for a minimum of 40% annualized return on investments.

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Investec closes Africa Private Equity Fund 2

Author: Africa Global Funds | Date: 2016-02-11

Investec Asset Management, one of the largest investors in Africa, has successfully closed its sophomore fund, the Investec Africa Private Equity Fund 2 (IAPEF 2) at $295m.

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African Rivers Fund hits first close at $45

Author: Anna Lyudvig | Date: 2016-02-03

XSML, a private equity fund manager active in Central Africa, has announced the first close of its African Rivers Fund at $45m, attracting a number of leading institutional investors.

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Nigerian Verod Capital hits $115m final close

Author: Africa Global Funds | Date: 2016-01-28

Verod Capital, a private equity manager based in Nigeria, has held the final closing of its Verod Capital Growth Fund II at $115m, exceeding its original target of $100m.

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Kibo Fund II reaches second close

Author: Africa Global Funds | Date: 2016-01-22

Kibo Capital Partners, a provider of growth capital in East Africa, Southern Africa and the Indian Ocean islands, has announced the second close of its Kibo Fund II.

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Moringa final closes at €84m

Author: Anna Lyudvig | Date: 2016-01-06

Moringa, SICAR, a private equity investment vehicle dedicated to making investments in sustainable agroforestry projects in sub-Saharan Africa and Latin America, has announced its final close at €84m.

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Warburg Pincus Private Equity XII closes at over $12bn

Author: Africa Global Funds | Date: 2015-11-30

Warburg Pincus, a global private equity firm focused on growth investing, has successfully raised its latest global fund, Warburg Pincus Private Equity XII, receiving commitments in excess of $12bn hard cap.

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NISABA agriculture fund launched

Author: Africa Global Funds | Date: 2015-11-10

Bamboo Finance and Louis Dreyfus Holding have joined forces to launch and manage NISABA, a $50m impact investment fund focused on SMEs in Sub-Saharan Africa.

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IPDEV2 hits first close

Author: Africa Global Funds | Date: 2015-10-27

Investisseurs & Partenaires (I&P), an impact investment group dedicated to African SMEs, has announced the first closing of IPDEV2, the first incubator and sponsor of African impact funds.

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ARVF hits final close at $80m

Author: Africa Global Funds | Date: 2015-10-07

The Ascent Rift Valley Fund (ARVF) has reached its final close at $80m, significantly exceeding its original $60m target.

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GroFin launches SGB Fund for Africa

Author: Anna Lyudvig | Date: 2015-09-24

GroFin, an SME development financier, has launched the GroFin Small and Growing Businesses (SGB) Fund that aims to catalyze sustainable job creation through supporting small and growing businesses in Africa.

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Berkley hits final close for African energy fund

Author: Africa Global Funds | Date: 2015-09-23

The African Renewable Energy Fund (AREF), a dedicated renewable energy fund focused on sub-Saharan Africa, has reached its final close at its hard cap, with $200m of committed capital to support small- to medium-scale projects.

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Mediterrania Capital II reaches target of €120m

Author: Anna Lyudvig | Date: 2015-07-28

Mediterrania Capital Partners, a private equity firm focusing on growth investments for SMEs, has reached a final close of Mediterrania Capital II at the planned target of €120m ($133.27m).

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IFC MENA Fund raises $125m

Author: Africa Global Funds | Date: 2015-07-09

The IFC Middle East and North Africa (MENA) Fund has raised $125m from IFC, a member of the World Bank Group, the Arab Fund for Economic and Social Development, the Arab Investment Company and the Arab Petroleum Investment Corporation.

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Impact fund agRIF hits first close at $71m

Author: Africa Global Funds | Date: 2015-06-22

Incofin Investment Management has reached a first closing of the agRIF at $71m to invest in financial intermediaries in emerging economies (Africa, Asia, LAC Region, CEE-NIS).

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Auvest Group launches MENASA Opportunities Fund I

Author: Africa Global Funds | Date: 2015-05-28

Auvest Group, a principal investor offering investment management services to institutions and family offices, has launched the Auvest MENASA Opportunities Fund I, aiming to raise between $250m and $300m.

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Duet, Bouygues aim to raise $200m for hotels development in SSA

Author: Africa Global Funds | Date: 2015-04-29

Duet Group has signed a partnership agreement with Bouygues Batiment International to establish Duet Africa Hotels, a vertically integrated hotel investment, development and asset management company, with an initial target equity raise of $200m.

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Abraaj closes Africa Fund III at $990m

Author: Africa Global Funds | Date: 2015-04-13

The Abraaj Group has final closed its Africa Fund III, a third dedicated Sub-Saharan Africa private equity fund, at $990m, receiving support from a diverse range of global institutional investors, pension funds, sovereign wealth funds and development finance institutions.

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IFC’s FIG Fund gets $345m at first close

Author: Africa Global Funds | Date: 2015-04-02

IFC, a member of the World Bank Group, has announced the first closing of the IFC Financial Institutions Growth Fund (FIG Fund), committing $150m to the fund.

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DPI closes pan-African ADP II at $725m

Author: Anna Lyudvig | Date: 2015-04-01

Development Partners International (DPI), a $1.1bn Africa-focused private equity firm, has raised $725m for its second pan-African fund from a range of institutional investors, exceeding its $500m target.

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Carlyle’s $2.5bn energy fund eyes deals in Africa

Author: Anna Lyudvig | Date: 2015-03-26

Carlyle International Energy Partners (CIEP) is planning to invest around 10% to 20% of the $2.5bn fund’s capital in oil and gas industry in Africa, according to The Carlyle Group, a global alternative asset manager.

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ARM-Harith Infrastructure Fund hits first close at $91m

Author: Africa Global Funds | Date: 2015-02-16

The ARM-Harith Infrastructure Fund (ARMHIF) has raised $91m at the first close from AfDB and a number of Nigerian pension funds, according to ARM-Harith Infrastructure Investment, a joint venture between Asset & Resource Management Company (ARM) and Harith General Partners of South Africa.

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Moringa to final close in February 2015

Author: Africa Global Funds | Date: 2015-01-11

The Moringa SICAR, an agroforestry sector investment vehicle, is aiming to achieve a final close in February 2015, according to Clément Chenost, Technical Director at the Moringa Partnership, the investment advisor of the fund.

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Warburg Pincus Energy closed at $4bn

Author: Africa Global Funds | Date: 2014-11-03

Warburg Pincus has announced the closing of Warburg Pincus Energy at $4bn, surpassing its fundraising target of $3bn and reaching the fund cap agreed with investors.

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Harith: Financiers and developers of infrastructure projects

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