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.
Here are summaries of the five most widely read stories the past week on Africa Private Equity News.
1. Inside Capital Partners backs energy solutions company
Inside Capital Partners has announced an investment in RDG Africa, a solar home systems and clean energy solutions company with operations in Zambia and the Democratic Republic of Congo.
Rushil Patel, partner and chief investment officer at Inside Capital Partners commented: “We’re excited to join forces with RDG at this pivotal stage of their journey. Our investment will enable them broaden their product offering, expand their regional footprint, and bring innovative energy solutions to vulnerable communities that remain off-grid and beyond the financial inclusion reach. This is about tackling a critical need, creating long-term value for customers and investors, and contributing towards the impacts of climate change.” Read the full article
2. TLG Capital in Uganda healthcare deal
TLG Capital, an Africa-focused private credit fund manager, has completed a senior secured debt facility of up to $2 million for a Ugandan healthcare distributor.
The deal represents TLG’s eighth investment into African healthcare, with previous investments spanning across Liberia, Nigeria, Uganda, Benin, Togo, Niger, Burkina Faso, Mali and Côte d'Ivoire. Read the full article
3. Japanese LP backs Novastar Ventures fund
Japan’s Sumitomo Mitsui Banking Corporation (SMBC) has announced an investment in the Novastar Ventures Africa People and Planet Fund III, managed by Novastar Ventures.
"Through LP investment … we will support the growth of startups, which are the driving force behind economic growth and solving social issues in the African market. In the medium term, we will also contribute to the development of new businesses and products that contribute to the creation of social value while supporting Africa's economic growth through collaboration with startups,” SMBC said in a statement. Read the full article
4. Finnfund raises €80m for digital access fund
Finnish development financier Finnfund has reached the first close of its Digital Access Impact Fund I (DAIF), raising €80 million, with Finland’s Ministry for Foreign Affairs and Finnfund itself as anchor investors.
The fund is focused on digital infrastructure and solutions, aiming to bridge the digital divide and promote digital, financial and gender inclusion in underserved regions in Africa, Asia and Latin America. DAIF targets investments in sectors such as telecom towers, digital infrastructure, and scalable high-impact technology solutions. Read the full article
5. Japanese venture firms set up $20m fund for African startups
Uncovered Fund, a Tokyo-based venture capital firm with a focus on emerging markets, and Monex Ventures, the venture capital arm of one of Japan’s leading financial groups, have jointly launched the Uncovered Monex Africa Investment Partnership. This new venture capital fund will invest in early-stage startups across Africa and the Middle East and North Africa (MENA) region.
The $20 million fund targets technology-driven startups headquartered in, or primarily operating within, Africa or MENA, with typical ticket sizes ranging from $100,000 to $2 million, including follow-on investments. Read the full article
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