The 5 most popular stories on Africa Private Equity News the past week
Here are summaries of the five most widely read stories the past week on Africa Private Equity News.
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Here are summaries of the five most widely read stories the past week on Africa Private Equity News.
1. LeapFrog Investments fully exits Goodlife Pharmacy
LeapFrog Investments has announced its exit from Goodlife Pharmacy, East Africa’s largest retail pharmacy platform. The business has been acquired by CFAO Healthcare, a distributor of pharmaceutical and medical products in Africa.
This full exit follows LeapFrog’s earlier sale of a minority stake in Goodlife to CFAO Healthcare in 2022. That transaction marked the beginning of a strategic partnership between the two firms, with CFAO now acquiring the remainder of LeapFrog’s shareholding to take full ownership. Read the full article
2. South Africa: Second close for HAVAÍC’s African Innovation Fund 3
Cape Town-headquartered venture capital firm HAVAÍC has announced the second close of its $50 million African Innovation Fund 3. Supported by financial services group Sanlam Multi-Manager and with follow-on investments from Fireball Capital and the SA SME Fund, the fund has secured $25 million in commitments.
Launched in August 2024, The African Innovation Fund 3 is earmarking 15 investments in early-stage, high-growth, and post-revenue investments born in Africa with regional and global growth potential. Read the full article
3. Helios backs rollout of African EV battery-swapping network
Climate-focused investment platform Helios Climate, in partnership with the Private Infrastructure Development Group, has announced an investment in India-based SUN Mobility, a provider of energy infrastructure and battery-swapping solutions for electric vehicles. The funding will support the rollout of SUN Mobility’s battery-swapping technology in Africa.
Helios Climate operates the Helios CLEAR Fund, which aims to deliver both high climate impact and attractive long-term investment returns in Africa. The fund is advised by Helios Investment Partners. Read the full article
4. Pearl Capital Partners exits Ugandan coffee business
Pearl Capital Partners, fund manager of the Yield Fund Uganda, has announced its exit from Clarke Farm, an agribusiness company active in the country’s specialty coffee sector.
Pearl Capital initially invested in Clarke Farm in 2019, and made a strategic follow-on investment in 2022. Through a combination of tailored financing and hands-on business development support, Pearl Capital empowered Clarke Farm to execute a series of strategic initiatives that enhanced productivity, climate resilience, and market competitiveness. Read the full article
5. South Africa: Mergence makes follow-on mezzanine investment in Solarise Africa
South Africa-based Mergence Investment Managers has announced an additional R60 million (about $3.4 million) investment in Solarise Africa, an energy solutions company operating across the continent. The latest funding, structured as a mezzanine facility through preference shares, will support the further roll-out of commercial & industrial (C&I) renewable energy solutions in South Africa.
This deal follows a R160 million (about $9 million) investment closed late last year. Read the full article
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