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. Enko Capital exits its investment in Netis

Enko Capital Managers, managers of the Enko Africa Private Equity Fund (EAPEF), a private equity investor targeting mid-cap growth companies across Africa, has exited its investment in Netis, a telecom network service provider specialised in the design, construction, installation, and management of telecom infrastructure in sub-Saharan Africa.

A consortium comprised of Amethis, AfricInvest, Proparco and IFC acquired EAPEF’s entire share capital in Netis. Enexus acted as the lead M&A advisor to EAPEF in connection with the transaction.

2. European LP backs A.P. Moller infrastructure fund

German development finance institution DEG is contributing $50 million to the Emerging Markets Infrastructure Fund II, managed by A.P. Moller Capital. The fund will focus on investments in transport infrastructure and renewable energy in selected high growth markets in Africa and Asia that resolve local logistical bottlenecks and generate green electricity.

The fund is targeting total commitments of $1 billion.

3. Climate Fund Managers announces third close at $875m

Climate Fund Managers (CFM), a climate-centric blended finance fund manager, has announced the third close of its Climate Investor Two Fund (CI2) with an additional $20 million of commitments, bringing the total fund size to $875 million. CI2 is a blended finance facility focused on water, sanitation and oceans infrastructure in emerging markets.

The fund’s third-close investor is a private family based in the United States, represented by global investment firm Cambridge Associates. The $20 million capital commitment to CI2’s Construction Equity Fund marks the largest commitment from a single-family office as well as the first from a US-based family office.

4. South Africa: HAVAÍC backs sporttech startup Sportable

Cape Town-headquartered venture capital firm HAVAÍC has announced its first investment in Sportable. The sole African institutional investor, HAVAÍC is contributing $1 million as part of a $15 million Series A investment round, which also includes renowned US-based sports investor Ryan Sports Ventures and Australian fund XV Capital led by Stirling Mortlock and James Godfrey.

Founded by two South Africans in 2016, Sportable deploys micro-tracking technology to enhance data collection and analysis in ball and contact sports, particularly rugby, soccer, and American football.

5. Newtown Partners, Saviu Ventures, others back e-health startup

Cameroonian e-health startup Waspito has secured an additional $2.5 million, bringing its total seed funding to $5.2 million in one year. The company aims to accelerate its growth in Cameroon and Côte d’Ivoire and has plans to expand into Senegal and Gabon, reinforcing its position in Francophone markets.

Waspito will be funding its growth plans via the oversubscribed $2.5 million seed extension round secured from DP World via Newtown Partners, Saviu Ventures, AAIC Investment, Axian ventures and Health54 (the healthcare CVC of CFAO).

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