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.
1. DPI in $165m African retail deal
Development Partners International (DPI) has announced a $165 million equity investment in Kazyon Ltd, the UK parent of the largest discount retailer in Egypt, Kazyon, alongside co-investors, including British International Investment (BII), South Suez and others.
Founded in 2014, Kazyon provides access to affordable products to the underserved market in Egypt and the surrounding region. Since its founding, and supported by DPI’s initial investment in 2022, the company has seen significant growth, positioning itself as Egypt’s largest discount retailer, with over 600 stores in 18 governorates. The company provides groceries to millions of customers at competitive prices, offering a focused range of products across its neighbourhood stores. The backbone of the operations is a proprietary logistics network, with centralised distribution centres across the country. Customer loyalty is rewarded through one of the largest loyalty schemes in the Middle East and Africa.
2. South Africa: Vantage Capital exits Dynamic Bedding
Vantage Capital, Africa’s largest mezzanine debt fund manager, announced that it has fully exited its investment in Dynamic Bedding, a South African specialist bed manufacturer and retailer. The company has been acquired by Vuna Partners, a private equity fund manager, together with senior management.
Vantage invested in 2014 and became the controlling shareholder as it led the business through an operational restructuring that included strengthening its senior management team, a re-engineering of its manufacturing facilities as well as a comprehensive revamp of its retail offering and marketing strategy.
3. Amethis Europe Expansion fund reaches first close
Amethis, a partner member of Edmond de Rothschild Private Equity with over €1 billion under management, has completed the first closing of the Amethis Europe Expansion (AEE) small-cap fund at around €75 million. The fund received backing from investors including Edmond de Rothschild, Bpifrance, BRED, and various family offices.
The fund aims to accelerate the growth and profitability of European SMEs by capitalising on opportunities in international markets, particularly Africa.
4. FMO approves investment in Mediterrania fund
FMO, the Dutch entrepreneurial development bank, has approved an investment of €25 million in the Mediterrania Capital IV Mid-Cap (MC IV) fund, a generalist private equity fund with a target fund size of €350 million, currently being raised by Mediterrania Capital Partners (MCP).
MC IV will target majority and significant minority investments in mid-cap corporates operating primarily in North-Africa, with some allocation to Francophone sub-Saharan Africa.
5. Capria announces first close of its $100m Global South Fund II
Capria Ventures has announced the first close of its new Global South Fund II, which has a target of $100 million. The fund will focus on investing in 20-25 tech startups in the entrepreneurial hotspots of India, Southeast Asia, Latin America, the Middle East, and Africa.
Investors that participated in the first close include OIP Investment Trust and Gates Ventures as well as several foundations, individuals, and family offices, including Crystal Springs Foundation, Sall Family Foundation, Brakeman Family Trust and two founders of Pioneer Square Labs.