Anglophone West Africa focussed private equity firm, Verod Capital Management (Verod), announced that it has invested in Daystar Power Group (Daystar), a leader in developing, owning and financing Commercial and Industrial sector hybrid solar generation projects across West Africa. The investment will enableDaystar to further scale its deployments across the region, providing low cost, reliable and clean energy to its customers. Verod will leverage on its wealth of experience and relationships in the West African corporate and industrial community to support Daystar’s growth. Verod co-invested in Daystar Power with Persistent, a pioneer investor in the off-grid sector.
The investment will represent the 10th (and final) commitment of Verod Capital Growth Fund II LP, a $115 million fund launched in 2014 to invest in middle-market high growth companies.