The 5 most popular stories on Africa Private Equity News the past week

Here are summaries of the five most widely read stories last week on Africa Private Equity News.

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Here are summaries of the five most widely read stories last week on Africa Private Equity News.

1. Norfund invests in Apis Partners fund

Norfund has committed $20 million to the Apis Growth Markets Fund III, managed by Apis Partners, a UK-based private equity firm investing in high-growth, tech-enabled financial services companies globally.

Norfund’s investment in Apis Growth Markets Fund III represents a strategic decision to further diversify its portfolio into a broader set of mature and high-growth fintechs. Read the full article

2. First close for Inside Capital's second fund

Inside Capital Partners has announced the first close of its second fund, Inside Equity Fund II (IEF II), with $55 million in commitments.

Returning investors are the Dutch Good Growth Fund (DGGF) and Terra Mauricia, one of the largest conglomerates in Mauritius. New investors in IEF II include the US International Development Finance Corporation, IFC, Swedfund, Mauritius Investment Corporation and BIO. Read the full article

3. Swedfund backs Meridiam fund

Swedfund has invested €30 million in The Urban Resilience Fund (TURF), managed by Meridiam, to address the pressing challenges of climate change and urbanisation in Africa, primarily in sub-Saharan Africa.

TURF develops and invests in greenfield infrastructure projects and companies that improve the urban environment and provide essential public services to local communities. These projects will address the unique urbanisation challenges faced by fast-growing cities in Africa, including inadequate infrastructure, high levels of pollution, and significant social inequalities. Read the full article

4. South Africa: Datacentrix starts new chapter with Convergence Partners

Earlier this year, South African ICT company Datacentrix announced that Convergence Partners, through its Convergence Partners Digital Infrastructure Fund, alongside the existing Datacentrix management team, entered into a definitive agreement with Alviva Holdings to acquire 100% of Datacentrix. The agreement was subject to the fulfilment of conditions and regulatory approval. Datacentrix has now announced that all conditions precedent have been met. The Competition Commission and Independent Communications Authority of South Africa have unconditionally approved the transaction.

Datacentrix is a hybrid ICT systems integrator and managed services provider that offers technology solutions for public and private sector entities on the continent and in the Middle East. Read the full article

5. European LP commits to SPE Capital fund

At the EU-Egypt Investment Conference in Cairo, the European Investment Bank confirmed support for a new $350 million regional private sector investment fund managed by SPE Capital.

EIB Global is committing $9.3 million to the first closing of this new fund, in line with the EU’s Global Gateway strategy, alongside other European and international development partners, including the European Bank for Reconstruction and Development, DEG, British International Investment, FMO, BPI France, and the International Finance Corporation, among others. Read the full article

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