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.
Here are summaries of the five most widely read stories this week on Africa Private Equity News.
1. Ghana: Injaro announces final close of new fund
Injaro Investment Advisors Limited has announced the final close of its multi-sector Ghana cedi-denominated private equity fund, the Injaro Ghana Venture Capital Fund (IGVCF).
The fund, which is backed by local pension funds, achieved a final close with an AUM of GHS 216 million (about $17.4 million) on December 29, 2023. Read the full article
2. North Africa: Amethis invests in data management consultancy firm
Amethis, through its Amethis MENA Fund II, has completed its fifth transaction, acquiring a minority stake in BBI.
Founded in 2009, BBI is a data management consultancy firm in the Middle East and North Africa (MENA), helping clients across the region organise, analyse, and leverage their data to make informed and data-driven decisions. Amethis’ investment in BBI will support the company in expanding its geographic and industry coverage, and in augmenting its service offering. Read the full article
3. Ilara Health secures $4.2m pre-Series A funding
Ilara Health, the healthtech company digitising and consolidating highly fragmented primary care in Kenya, has announced the close of a $4.2 million pre-Series A round of equity and debt.
Led by DOB Equity, the round also sees follow-on equity investment from AAIC Investment, Angaza Capital, Black Pearl Investments, Perivoli Innovations, as well as debt investment from Alphamundi and Kiva Capital. New to the round are Philips Foundation and Boehringer Ingelheim. The new partners are strategic healthcare investors that bring their deep experience working with and investing in companies in the global healthcare industry. Read the full article
4. Renew Capital launches next pan-African tech fund
Renew Capital has launched its new pan-African tech fund, the Renew Venture Lab Fund 2 (RVL2).
In 2023, the firm launched the Renew Venture Lab Fund series, focusing on early-stage tech and tech-enabled companies. Following the closing and deployment of capital from Renew Venture Lab Fund 1, Renew Capital is now launching Renew Venture Lab Fund 2 (RVL2). This fund is designed to invest in up to 50 tech startups across Africa, offering training and support to founders and their teams. The most successful companies in RVL2 will be eligible for larger investments from Renew Capital Fund 1, the firm’s growth-stage investment fund. Read the full article
5. Kenya: Electric mobility company secures $24m in funding
Kenya-based electric mobility company Roam has closed its Series A funding round, securing $24 million in equity and debt.
The round was led by Equator Africa and includes investments from At One Ventures, TES Ventures, Renew Capital, The World We Want, and One Small Planet, among other private and institutional investors. Additionally, the US International Development Finance Corporation (DFC) committed to providing Roam with an up to $10 million debt facility. Read the full article
* Subscribe to Africa Private Equity News’ monthly Dealmaker’s Log for a database of the reported investment deals, exits and fundraising closes. Click here for more information.