Five African private capital moves in October 2025
A selection of African private capital transactions as featured in our October 2025 Dealmaker’s Log.
We highlight five African private capital transactions, as featured in our October 2025 Dealmaker’s Log, a database of reported investment deals, exits, and fundraising milestones. Subscribe to this service here
1. Enko Capital hits $100m first close for Africa credit fund
Enko Capital, the Africa-focused alternative asset manager, has reached the first close of its Enko Impact Credit Fund, raising $100 million toward a $150 million target.
Investors in the first close include British International Investment, the International Finance Corporation, SICOM Global Fund, and other asset managers, African pension funds, and family offices. Read the full article
2. SPE Capital, Amethis in manufacturing deal
A consortium of investors – including SPE Capital, through its SPE PEF III fund, Proparco, and Amethis via its MENA Fund II – has invested in Delta Holdings, an Egypt-based manufacturer of specialty additives for the paint and coatings industry.
The consortium’s investment will support Delta Holdings in broadening its product offering and accelerating its export-oriented initiatives. Read the full article
3. Inspired Evolution commits $20m to warehousing business
Evolution III Fund, managed by Inspired Evolution, has committed $20 million to Cold Solutions East Africa Holdings (CSEAHL), a temperature-controlled warehousing and logistics platform.
CSEAHL is an investment vehicle owned by the ARCH Cold Chain Solutions East Africa Fund, which is managed by ARCH Emerging Markets Partners. African Rainbow Capital, through its subsidiary ARC Guernsey, is the controlling shareholder of ARCH Emerging Markets Partners. Read the full article
4. Verod exits Nigerian pensions fund administrator
Verod, the West African private equity firm, exited its investment in Nigerian pensions fund administrator Tangerine APT Pensions. Verod’s minority partner, APT Securities and Funds, is acquiring its stake.
In 2020, through its funds, Verod acquired 100% of AXA Mansard Pensions and 45% of APT Pension Fund Managers. In 2021, the two businesses were merged to create Tangerine APT Pensions. At the time of the merger, the combined assets under management stood at approximately ₦100 billion (about $67 million at the current exchange rate). Read the full article
5. Moniepoint raises over $200m in funding
African financial platform Moniepoint has raised over $200 million in equity financing in a recently closed Series C funding round.
The round was led by Development Partners International’s African Development III fund, with the final close anchored by LeapFrog Investments. Other investors in the round include Lightrock, Alder Tree Investments, Google’s Africa Investment Fund, Visa, the International Finance Corporation, Proparco, Swedfund, and Verod Capital Management. Read the full article
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