Ghana: Verod Capital exits education business
Verod exits Lancaster University Ghana owner, selling stake to existing shareholder.
** For the best experience, download the free Africa Private Equity News app Android | iOS **
Verod Capital Management has announced the exit of its Verod Capital Growth Fund II from TAG West Africa, with existing shareholder Transnational Academic Group acquiring the fund’s stake. TAG West Africa owns and operates the Lancaster University Ghana campus.
In 2023, TAG West Africa partnered with the UK’s Lancaster University to establish Lancaster University Ghana. Based in Accra, it is the first and only research active British university campus in mainland Africa and offers courses at foundation and undergraduate levels. Students graduate with an internationally recognised Lancaster University degree certificate.
Verod invested in TAG West Africa in 2017. During the investment period, it worked closely with the company to relocate Lancaster University Ghana to a new campus with capacity for around 3,000 students, significantly improving the student experience. The university’s brand visibility was also expanded in Nigeria, a key source market for students.
Trish Amoah-Ntim, investment principal at Verod, said: “We partner with businesses that are making a positive impact. We invested in TAG West Africa to increase access to world-class tertiary education in the region, and we are proud to have played our part in delivering on this aim.”
Ashwin Gautama, group CFO at TAG, said: “As we reflect on this milestone, we extend our sincere gratitude to Verod for their steadfast partnership in elevating Lancaster University Ghana to new heights. Together, we have worked to shape thousands of young African minds and provide a strong foundation for their success. TAG remains firmly committed to broadening access to world class education and empowering the next generation of African leaders.”
Stay ahead in Africa's private equity and venture capital sector with Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe here