Silverbacks exits Lemfi with 29x return on investment
Silverbacks Holdings has exited its stake in Lemfi, marking the firm’s eighth profitable exit since inception.
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Silverbacks Holdings has exited its stake in Lemfi, marking the firm’s eighth profitable exit since inception.
Lemfi, a remittance and payments company founded in 2021, recently raised $53 million in Series B funding. It enables diaspora communities to send money to more than 20 cities across Africa and Asia.
“This eighth profitable exit which delivered 29X cash invested is another testament to the quality of our portfolio’s founders and the investment sophistication of the Silverbacks ecosystem … Our commitment remains to amplify African tech, sports, and creative spirits on the world stage,” said Ibrahim Sagna, executive chairman of Silverbacks Holdings.
Established in 2019, Silverbacks Holdings targets 3x to 5x average returns and maintains a concentrated portfolio of core investments in export oriented tech enabled businesses, while its broader holdings span over 240 tech companies.
* Read How we made it in Africa’s interview with Silverbacks chairman Ibrahim Sagna: The case for investing in African sports – investor interview
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