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. Elevate Private Equity and Misr Capital launch $380m healthcare investment platform
Misr Capital, the investment arm of Banque Misr, and Elevate Private Equity, have announced the launch of a $380 million healthcare investment platform, Nile Misr Scan & Labs. Elevate Private Equity has built a strong track record of achieving 38% CAGR over the past four years as the strategic manager of Nile Scan & Labs Co, effectively making it the fastest growing healthcare entity in Egypt and the region.
The platform is structured on the investment and medical expertise of the two partners, who will actively manage the fund strategy and acquire highly selective targets with strong potential across healthcare verticals spanning hospitals, diagnostic facilities, pharmaceuticals, medical education, and digital medical services among others in Egypt and sub-Saharan Africa.
2. IFC mulls investment Knife Capital Fund III
The IFC has proposed an equity investment of up to $10 million in the Knife Capital (International) Fund III, not to exceed 20% of the fund’s total capital commitments. The fund is targeted to be a $50 million venture capital fund focused on investments in the scale-up or expansion (series B) stage primarily in South Africa.
Knife III aims to invest in high-growth, innovative technology companies with strong IP and potential for pan-African and global expansion in sectors including: platform businesses, software, tech-enabled business services, and fintech.
The fund manager is Knife Capital (Jersey) Limited. The fund will be managed by Keet van Zyl, Andrea Böhmert, Eben van Heerden, Bob Skinstad, and Davey Gant.
3. Seasoned PE exec launches investment firm dedicated to African luxury brands
Birimian, the first operational investment company dedicated exclusively to African luxury and premium heritage brands, has been launched. Birimian is led by Laureen Kouassi-Olsson, a seasoned executive in the African financial services and private equity industries. Kouassi-Olsson has experience at Amethis and Investisseurs & Partenaires. From launch, Birimian will support designers on the continent and in the diaspora to facilitate and accelerate the growth of their businesses regionally and internationally.
Birimian will be the bridge between the continent’s entrepreneurs and creative talent, and strategic stakeholders in the international fashion and luxury industries. The company will establish an ecosystem of experts and professionals who specialise in value creation for independent labels and international brands.
4. West Africa: Adenia exits investment to SPE Capital
Adenia, a private markets investment firm in Africa, announced that it has finalised the sale of its 100% equity stake in Ademat to SPE Capital, a private equity firm focused on Africa and the Middle East. Founded in Abidjan in 1983, Ademat is a provider of power security solutions in Côte d’Ivoire. It provides a wide range of technical solutions for companies in various industries, including telecommunications, financial services, manufacturing, healthcare and hospitality.
Since acquiring Ademat in September 2016 through its Adenia Capital (III) fund, Adenia has implemented a series of strategic value creation initiatives, resulting in the expansion of the company’s product offering and market footprint; operational improvements including the introduction of new management tools and technologies; the modernisation of working conditions, including the building of new tailor-made headquarters; and the implementation of an ambitious ESG action plan. Today, Ademat is recognised for providing best-in-class services to customers across Côte d’Ivoire.
5. Goodwell Investments launches new impact fund for Africa
Goodwell Investments, an impact investment firm, announced the launch of Goodwell V. Following on from predecessor funds, Goodwell V aims to channel capital from private investors, family offices and foundations to fast-growing, scalable small and medium-sized companies.
Goodwell V is the cornerstone feeder for a new institutional fund that the company plans to launch in the second half of this year. The firm’s local teams in Nigeria, Kenya and South Africa have made more than 20 investments across Africa over the last five years.
Goodwell V will build a new portfolio of companies across various sectors in Africa: at least a third will be invested in financial inclusion, a quarter in agriculture, and the remainder in mobility and other impact sectors such as education and healthcare. The fund will also allocate follow-on funding to existing portfolio companies, such as Copia, MFS Africa, Good Nature Agro, Tomato Jos and Nomanini.
Are you seeking private equity or venture capital investment to grow your company? Africa Private Equity News now offers you the opportunity to connect with investors backing African businesses. Contact us at editor@africaprivateequitynews.com for our rate card and more information.