The 5 most popular stories on Africa Private Equity News this week
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. South Africa: Vuna Partners buys 40% stake in Ferreira Fresh
Vuna Partners Fund I, managed by South Africa-based Vuna Partners, has acquired a 40% equity stake in Ferreira Fresh, a family-run fresh and frozen produce provider with a delivery footprint spanning Gauteng as well as neighbouring provinces.
Ferreira Fresh was established in 2016 in the back of a hotel kitchen in Bramley, Johannesburg with the aim of being the market leader in the fruit and vegetable market. Read the full article
2. Egyptian-American Enterprise Fund commits $50m to Tanmiya fund
The Egyptian-American Enterprise Fund (EAEF) has committed $50 million to the Tanmiya Capital Ventures (TCV) Fund II.
TCV is a growth-equity firm focused on transforming family companies into institutional businesses. TCV has made five investments in Egypt, including Tamweel, the country’s leading non-bank mortgage finance player and Abu Auf, a popular healthy foods company. Earlier this year, TCV successfully exited its investment in Abu Auf to the United Arab Emirates food and beverages group Agthia. Read the full article
3. Agri insurance platform Pula closes $20m Series B funding
Agricultural insurance and technology company Pula has closed a $20 million Series B fundraising round.
The funding round was led by BlueOrchard, via its InsuResilience strategy. Other investors include the International Finance Corporation, the Bill & Melinda Gates Foundation, Hesabu Capital, and existing shareholders. The aim of the strategy is to protect vulnerable people and microentrepreneurs in emerging markets from the effects of climate change by providing access to climate insurance. Read the full article
4. Injaro joins AFIG Funds as shareholder in Ivorian packaging company
Injaro Investment Advisors, a Ghanaian private capital fund manager, has announced a €2 million equity investment in Nouvelle Mici Embaci (NME), a packaging company in Côte d'Ivoire. This marks the second investment of the Injaro Ghana Venture Capital Fund (IGVCF), and the fund’s first investment in Côte d'Ivoire.
IGVCF is joining an existing consortium of private equity investors comprising Advanced Finance and Investment Group (AFIG Funds) and Norfund, which completed a 100% acquisition of NME last year. Read the full article
5. First close for Acre Impact Capital’s Export Finance Fund I
Acre Impact Capital, a private-debt impact investment manager, has announced the first closing of its Export Finance Fund I, with commitments of about $100 million, with a target size of $300 million.
The fund has attracted a diverse group of investors including institutional investors, development finance institutions (DFIs), family offices and impact-first investors such as Trimtab Impact and Ceniarth. DFIs include the European Investment Bank and FSD Africa Investments. Read the full article
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