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: Alterra-led consortium to buy Chill Beverages from Old Mutual PE

Alterra Capital Partners has partnered with South Africa’s Mineworkers Investment Company (MIC) and Admaius Capital Partners, to acquire a majority stake in Chill Beverages from Old Mutual Private Equity. This acquisition marks the first investment by Alterra’s Africa Accelerator Fund (AAA Fund).

Chill’s range includes Score energy drinks, Fitch & Leedes premium mixers and Chateau Del Rei sparkling wine. The business has delivered historic growth in excess of 20% per annum. Read the full article

2. IFC proposes investment in Inside Capital fund

The IFC has disclosed a proposed equity investment of up to $10 million in the Inside Equity Fund II (IEF II), a Mauritius limited partnership targeting $100 million to construct a portfolio of investments diversified across Eastern and Southern Africa.

IEF II will be managed by Inside Capital Partners. Key representatives of the fund manager are Jerome Lagesse (managing partner), Basil Nundwe (partner) and Rushil Patel (partner).

The fund will primarily make investments in Madagascar, Mauritius, and Zambia, and will also consider investments in Malawi, Mozambique, and Tanzania. Read the full article

3. South Africa: Heritage Capital invests in Fairview Cheese

South African private equity fund manager Heritage Capital has made an investment in Fairview Cheese.

Heritage Capital has partnered with Nurture Brands, a long-term investor in the growing functional and convenience food sector. Read the full article

4. Renew Capital announces new board member

Renew Capital, a pan-African early-stage investment firm, has announced that Jonathan Baker has joined its board.

Baker brings a wealth of experience to the board with over 20 years of angel investing, including a decade focused on African markets. Read the full article

5. Accion launches $152.5m fund to invest in digital transformation

Global nonprofit Accion has announced the launch of the Accion Digital Transformation Fund (ADTx). The $152.5 million fund seeks to enable financial institutions to better meet the needs of small businesses that are currently excluded from the financial system by providing growth capital and strategic support for digital transformation.

The fund is managed by Accion Impact Management. Investments will focus on companies serving micro, small, and medium enterprises across South and Southeast Asia, Latin America, and Africa. Read the full article

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