The 5 most popular stories on Africa Private Equity News this week

Here are summaries of the five most widely read stories this week on Africa Private Equity News.

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Here are summaries of the five most widely read stories this week on Africa Private Equity News.

1. Partech announces close of second Africa fund

Partech, the global technology investment firm, has announced the final closing of its second Africa fund, Partech Africa II, at a hard cap of €280 million.

Partech Africa II has attracted new investors such as Africa Re and Dubai Future District Fund (DFDF) which are joining existing Partech Africa LPs such as Orange, AXIAN Investment and the African Development Bank Group. Read the full article

2. IFU sells stake in Kenyan wind farm to BlackRock

The Danish Climate Investment Fund (DCIF), managed by IFU, has sold its shares in Lake Turkana Wind Power, the largest wind farm in Africa.

DCIF has been a co-owner of Lake Turkana Wind Power since construction began in 2014.

DCIF’s shareholding of 6.25% in Lake Turkana Wind Power has now been sold to the Climate Finance Partnership, a public-private finance vehicle managed by BlackRock. Read the full article

3. Nigeria: CardinalStone exits gym chain to Verod

CardinalStone Capital Advisers (CCA), a West Africa focused private equity firm, has announced that its CardinalStone Capital Advisers Growth Fund (CCAGF) has sold its stake in i-Fitness, to Verod Capital.

Established in 2015, i-Fitness is a health and wellness brand that operates a chain of low-cost, big-box gyms across Nigeria.

CCA partnered with Foluso Ogunwale, the founder of i-Fitness, in 2019. Read the full article

4. South Africa: E3 Capital and 4DX Ventures lead investment in rooftop solar platform

Hohm Energy, a South African company that helps homeowners and businesses to go solar with accredited solar installers, product suppliers, and embedded solar finance, has announced the final close of its $8 million seed round.

The round was led by E3 Capital and 4DX Ventures and attracted participation from new investors, including Breega, E4E Africa, TO.org, Tekton Ventures, Sunu Capital, Musha Ventures, and Climate Capital Ventures. Read the full article

5. Uganda: Renew Capital backs African capital markets investing platform

Renew Capital has announced an investment in Uganda-based fintech company Level Africa. The platform streamlines the investment process, enabling quick and easy access to bonds, stocks and other financial instruments.

The journey to invest in bonds, stocks and other financial instruments available through capital markets across Africa has long been fraught with challenges such as complex paperwork and unreliable brokers. Level Africa is working to change this narrative. Read the full article

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