Thursday 31 July 2014

Ascent Capital Announce USD50m First Close

Ascent Capital have been working away at this – and a deal in Ethiopia – for a while, but are finally ready for at least one announcement: The fund managers have raised USD50m for their Ascent Rift Valley Fund (ARVF). Interesting about this is that it’s...

Sasfin Private Equity to Move into SME PE

Sasfin Private Equity, a division of Sasfin Capital, are planning to venture into the SME sector, looking to begin with at least two deals of a total of ZAR50m or more a year, targeting companies with an enterprise value of ZAR50-350m. However, Sasfin...

Capital Eye to Launch New ICT Fund

Capital Eye Investments are planning to launch a new venture capital fund for ICT start ups as well as established technology businesses. Capital Eye, spun off UCS Group after the latter was acquired by Business Connection in 2014, has already made 13...

Amethis Exceed Fundraising Target by USD30m

Amethis Finance, part owned by Swiss investment bank Edmond de Rothschild Edmond de Rothschild, have announced the final close of their sub Saharan Africa fund at USD530m, exceeding their initial target by US$30m. Amethis say that they are backed by 55...

GE to Launch USD19m Supplier Development SME Fund for South Africa

GE are working on the launch of a USD18.7m fund for SMEs in South Africa that will provide financing, but also technical and business support services to SMEs that fit into the company’s supply chain. Both early stage and mature SMEs will be considered....

Nigerian Government Hopes to Close VC Fund Shortly

According to Nigeria’s Minister of Communication and Technology, Mrs Mobolaji Johnson, the planned USD15m ICT VC fund will close at the end of June 2014. While Mrs Johnson said that the Nigerian government would provide around USD3.6m for the fund that...

Match Maker Group Launch SME Impact Fund in Tanzania

Another SME fund for Tanzania: Advisory and investment firm Match Maker Group launched the SME Impact Fund (SIF) in Dar es Salaam, Tanzania. SIF will be a debt fund: They are looking to lend at 20% p.a. in local currency on a declining balance – this...

Enko Capital Partners Announce First USD48.25m EAPEF Close

Enko Capital Managers have reached the first, USD48.25m close of their Enko Africa Private Equity Fund (EAPEF) with institutional investors, including the African Development Bank (who announced a commitment of USD15m in September 2013), family offices...

First USD50m Close for Kibo Fund II

Kibo Capital Partners have announced the first close of their second fund, Kibo Fund II, launched in 2012. This is good progress towards their target of USD80m, roughly double of the first Kibo Fund I. The fund will target SMEs in Eastern and Southern...

Jacana: SME Private Equity Casualty

Nearly a year and a half after the launch in late 2012, Jacana have halted the fundraising for their planned USD75m SME PE fund.  Bart Meijers from InReturn – who had announced a planned merger with Jacana in early 2013 – stated in an email: ‘...

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