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. Old Mutual Alternative Investments backs South African maize milling deal
Hybrid Capital, a division of Old Mutual Alternative Investments, has provided a bespoke funding solution to Thebe Investment Corporation, a black-owned investment management company. The funding will facilitate Thebe’s acquisition of a further 40% shareholding in Pride Milling, one of the largest maize millers in South Africa.
This transaction will see Thebe, together with the existing shareholders, become the majority owner of Pride Milling. Read the full article
2. First close for Helios fund
Catalytic backing from the United Kingdom has enabled the Helios Climate, Energy Access, and Resilience (CLEAR) Fund to raise approximately $200 million in its first close for investment in African businesses focused on climate mitigation and adaptation.
The fund, managed by Helios Investment Partners, has a target size of $400 million. Read the full article
3. Swedfund invests in Inside Capital’s second fund
Sweden’s development finance institution, Swedfund, has invested $10 million in the Inside Equity Fund II, managed by Inside Capital.
The fund will back small and medium-sized enterprises (SMEs) in Zambia, Madagascar, Mauritius, Tanzania, Malawi and Mozambique. Read the full article
4. AgDevCo backs South African avocado and citrus project
AgDevCo has partnered with Mahela and ZZ2 to further develop the Skutwater avocado and citrus farming operations at Weipe, Limpopo, South Africa.
Mahela Group, a citrus and avocado producer from Letsitele, and ZZ2 Group, an avocado and tomato producer from Mooketsi, are developing a 400-hectare avocado and citrus farming operation in Weipe, Limpopo, South Africa, with a non-controlling minority equity investment from AgDevCo. Read the full article
5. HAVAÍC completes first close of its African Innovation Fund 3
Cape Town-headquartered venture capital firm HAVAÍC has announced the first close of its African Innovation Fund 3, which has a target of $50 million.
In partnership with cornerstone investors Universum Wealth and The SA SME Fund, as well as local and international family offices, the fund has secured $15 million in commitments for its first close in July 2024. Read the full article
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