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. TLcom Capital closes second fund at $154m
TLcom Capital, the Africa-focused venture capital firm, today announced the final close of its TIDE Africa Fund II at $154 million.
At more than twice the size of TLcom Capital’s first fund, TIDE Africa Fund II is oversubscribed and sees participation from several new LPs alongside returning LPs from the firm’s first Africa-focused fund, TIDE Africa Fund I, closed in 2020. These include the European Investment Bank; Allianz and DEG Impact’s joint venture, AfricaGrow; Visa Foundation; and Bertelsmann. Read the full article
2. Nigeria: Goodwell invests in OmniRetail
Goodwell Investments has made an investment in Nigeria-based OmniRetail, a B2B e-commerce platform digitising sub-Saharan Africa’s informal supply chain. Working in collaboration with long-term partner Alitheia Capital, Goodwell invested via its uMunthu II fund, effectively kickstarting OmniRetail’s Series A fundraising round.
Founded in 2019, OmniRetail provides the necessary digital infrastructure to tackle some of the most pressing challenges within Africa’s commerce value chain, particularly by addressing the needs of informal retailers. Read the full article
3. Morocco: Mediterrania completes exit from TGCC
Mediterrania Capital Partners has completed its exit process from TGCC, a construction and civil engineering company based in Morocco.
Founded in 1991 by Mohammed Bouzoubaa, TGCC has grown to become Morocco’s biggest construction and civil engineering company. With Mediterrania’s guidance, TGCC has expanded into Gabon, Côte d’Ivoire and Senegal and increased its projects in other sub-Saharan Africa countries managed from Casablanca. Read the full article
4. Bain & Company names Alexander Schmitz to lead its EMEA PE practice
Bain & Company has appointed Alexander Schmitz to lead its private equity practice in Europe, Middle East and Africa (EMEA), succeeding Christophe De Vusser, the firm’s worldwide managing partner elect.
A 21-year veteran of the firm based in Dusseldorf, Alexander is a senior member of the firm’s partner team in its global private equity practice. Most recently, he has served as head of Bain’s private equity group in the Germany, Austria and Switzerland region (DACH). Read the full article
5. Renew Capital invests in Kenya’s Farm to Feed
Renew Capital has announced an investment in Kenyan B2B platform Farm to Feed, which targets unused produce.
With more than a billion tonnes of food wasted on farms each year globally, Farm to Feed has introduced a solution. Its simple B2B platform is addressing some of the 40% of uneaten food by finding new uses for surplus and less-than-perfect produce. Read the full article
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