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. LoftyInc Capital announces $43m first close of its new fund
LoftyInc Capital Management has announced the $43 million first close of its new fund. The LoftyInc Alpha Fund seeks to back Africa’s most promising tech startups across key geographies, including Nigeria, Egypt, Kenya, and Francophone Africa.
Operating out of Nigeria, Egypt, and Kenya, LoftyInc is one of the African VC ecosystem’s earliest investors, with investments in prominent startups such as Flutterwave, Andela, Wave Mobile Money, RelianceHealth, Thndr, OmniRetail, and Moove. Read the full article
2. EAAIF contributes $45m to CrossBoundary Energy
The Emerging Africa & Asia Infrastructure Fund (EAAIF), managed by Ninety One, has made a $45 million funding contribution to CrossBoundary Energy.
EAAIF's investment will drive the expansion of solar, wind, hybrid energy, and battery energy storage systems (BESS) in countries with favourable conditions for renewable energy. Read the full article
3. IFC announces proposed investment in Nigerian VC fund
The International Finance Corporation has disclosed a proposed equity investment of up to $6 million in the Ventures Platform Pan-African Fund II (VP II), a venture capital fund focusing on Seed stage technology-enabled companies in Africa.
The fund will be domiciled in Guernsey and managed by Ventures Platform, headquartered in Nigeria and led by two partners: Kola Aina, and Dotun Olowoporoku.
VP II will be deployed across Africa with a focus on Nigeria. Read the full article
4. Sahel Capital invests in West African agribusiness company
Sahel Capital has closed an investment of a $400,000 working capital loan to MM LEKKER through its Social Enterprise Fund for Agriculture in Africa (SEFAA).
MM LEKKER, a Benin-based company, specialises in selling soya beans, shea nuts, and cashew nuts, catering to both local and international markets. MM LEKKER has made significant strides in expanding its smallholder farmer network across key agricultural regions in northern Benin. The company also offers storage solutions, enabling farmers to reduce post-harvest losses and sell their products at optimal market conditions, ultimately securing higher revenues. Read the full article
5. Egypt: CI Capital and Compass launch C3 Capital Fund 1
CI Capital, a diversified financial services group, and Compass Capital for Financial Investments, an Egyptian alternative investment manager, have launched the C3 Capital Fund 1. With a target size of EGP 3 billion (about $59.2 million) at final close, the fund is dedicated to investing in EGX-listed equities with an active shareholder participation approach.
C3 Capital Fund 1 adopts a private investments in public equities (PIPE) strategy, managed by C3 for Fund Management, an independent joint venture between CI Capital and Compass Capital. Read the full article
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