African Capital Alliance (“ACA”) today announced the sale of Cornerstone Tower, an A-grade office building in Lagos, to a strategic investor. ACA’s pioneer Real Estate Fund, Capital Alliance Property Investment Company (“CAPIC”) made the investment in partnership with Cornerstone Insurance Plc. and Fin Insurance.
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 Services Limited (“UTL”, formerly Union Trustees), a Nigerian trust company based in Lagos.
Verod Capital Management (Verod), a leading West African private equity firm, has received regulatory approvals for its acquisition of 100% of the shareholding of Metropolitan Life Insurance Nigeria Limited (Metropolitan Life Nigeria, or, the Company), from South African-based Momentum Metropolitan Holdings Limited, (Momentum Metropolitan, formerly MMI Holdings Limited). The transaction, for an undisclosed amount sees Momentum Metropolitan exit the Nigerian market, in line with its articulated Reset and Grow strategy.
In Q3 PEVCA and AVCA joined forces at the inaugural launch of AVCA’s Focus Live series. This session, sponsored by AELEX, focused on generating healthy returns amid macroeconomic uncertainties and explored the opportunities in Nigeria’s emerging tech sector.
West Africa’s largest clothing manufacturer, DTRT Apparel Ltd (DTRT), today announced a major investment from leading investment firm Verod Capital Management and Red Bull GmbH, in a transformative deal for the West African apparel industry.
DTRT supplies cost-competitive products to major US and EU-based brands via a global network spanning three continents. The company employs over 2,000 people in West Africa, procures textiles from Asia and exports primarily to the EU and US markets, benefitting from supportive trade arrangements between the US/EU and Ghana.
Verod Capital Management (Verod) is pleased to announce an interim close of Verod Capital Growth Fund III LP (Verod Fund III) at $150m, exceeding the size of its predecessor fund, Verod Capital Growth Fund II LP (Verod Fund II). 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.
Healthtech company MDaaS Global, which is building a network of tech enabled diagnostic facilities in Nigeria, has closed on seed funding totaling US$1 million. Led by Consonance Investment Managers, with participation from Techstars, FINCA Ventures, an investment initiative of FINCA International, and others, the round will see MDaaS scale and replicate its innovative diagnostic center business model, as the company seeks to open 100 additional centers in Nigeria and West Africa over the next five years.
Sahel Capital, fund Managers for the Fund for Agricultural Finance in Nigeria (“FAFIN”), today announces that definitive agreements have been executed for an investment in Ladgroup Limited (“Ladgroup”), an indigenous agricultural company that engages in the processing and export of shea butter.
Ladgroup commenced operations in 1972 with the exportation of shea nuts,
Verod Capital Management Limited (Verod) is pleased to announce that it has completed a full exit of its ownership of
This forward-looking survey provides valuable insights into how fellow Private Equity practitioners currently view the African Private Equity landscape, as well as their future expectations. Consistent with the 2017 results, investor confidence remains favourable across all three surveyed regions, with overall
