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.
Africa Private Equity News’ Connect messaging service is now free. Directly message other private equity professionals in our community.
Download the free Africa Private Equity News app: Android | iOS (or search for it in the app store)
Tap on the top-right icon to log in or register a free account
Tap on bottom-right Connect icon to start chatting
Here are summaries of the five most widely read stories this week on Africa Private Equity News.
1. South Africa: Actis to acquire Swiftnet for $355m
Actis, a global infrastructure investor, together with Royal Bafokeng Holdings as its empowerment partner, has entered into an agreement to acquire a 100% stake in Swiftnet, a telecom tower portfolio in South Africa, from Telkom for an enterprise value of ZAR6.75 billion (c. $355 million).
The transaction is subject to regulatory approvals and closing conditions. Read the full article
2. DPI exits biopharmaceuticals platform to Mubadala
Africa-focused private equity firm Development Partners International (DPI) together with British International Investment (BII) and the European Bank for Reconstruction and Development (EBRD), announced the sale of 100% of their shareholding in KELIX bio, a biopharmaceuticals platform, to Abu Dhabi-based Mubadala Investment Company.
DPI invested from its flagship third fund ADP III.
KELIX bio was co-founded in November 2020 by investors DPI, BII, EBRD, and executives Hocine Sidi Said and Alhadi Alwazir, to create the first pan-African biopharmaceutical platform committed to broadening access to vital specialty generic drugs. Read the full article
3. IFC invests in new 4DX Ventures fund
The International Finance Corporation (IFC) is investing $10.5 million in a new fund by 4DX Ventures, a New York-based venture capital firm focused on supporting early-stage African technology companies.
IFC’s investment in 4DX Ventures Fund III will come from IFC’s $225 million venture capital platform, which was launched last year to strengthen emerging VC ecosystems and invest in early-stage companies in Africa, the Middle East, Central Asia, and Pakistan. Read the full article
4. Egypt: DisrupTech, EdVentures and CFYE back edtech platform
Egypt-based edtech company Sprints.ai has raised a $3 million bridge round led by DisrupTech Ventures, with investments from EdVentures and CFYE, among other investors.
Co-founded by Ayman Bazaraa and Bassam Sharkawy, Sprints is the first end-to-end platform to bridge the tech talent gap, spanning talent assessment, customised learning journeys, and a top-paying job guarantee. Sprints is the first edtech startup in the Middle East and Africa (MEA) to offer guaranteed hiring programmes, allowing graduates to only pay upon successful hiring over three years. Since launching in 2020, Sprints has delivered more than 2.5 million learning hours and secured graduate employment through over 300 tech employers across the globe. Read the full article
5. HAVAÍC reinvests in breakdown management platform RNR
Venture capital firm HAVAÍC has led a R12 million (c. $632,768) follow-on investment round in Right Now Response (RNR). The Cape Town-based VC firm contributed R10 million (c. $527,369) following an initial R9.2 million (c. 485,236) invested as the company’s first institutional investor in February last year.
South African-born RNR provides truck fleet managers and truck original equipment manufacturers with on-demand breakdown support via its nationwide network of vetted mechanics, electricians, and repair centres. Read the full article
* Subscribe to Africa Private Equity News’ monthly Dealmaker’s Log for a database of the reported investment deals, exits and fundraising closes. Click here for more information.