Apis Partners exits financial services company
London, 11th February 2025 – Apis Growth Fund I (the “Fund”), a private equity fund managed by UK-based asset manager Apis Partners Group (UK) Limited (“Apis Partners”), has announced it has signed binding agreements to sell its full stake in Baobab, a leading African financial services provider specialising in supporting small and medium-sized enterprises (SMEs). The Fund’s position in the company is being acquired by Beltone Capital, a fully owned subsidiary of Beltone Holding (“Beltone”), a financial services provider listed on the Egyptian Stock Exchange. Following the acquisition of Apis’ stake, that of its co-investor and other selling shareholders, Beltone will take a majority share in Baobab. This strategic exit marks the ninth, and penultimate, full exit from the Fund.
Source: Apis Partners
Bluewater exits Apex International Energy
London, 10th February 2025 — Bluewater, the specialist energy private equity firm, has today signed a purchase agreement to sell Apex International Energy, a leading independent player in oil & gas exploration and production in the prolific Egyptian upstream market.
Source: Bluewater
Egypt-based VC investor reaches US$25mn first close
Foundation Ventures, a Cairo-based venture capital firm, has announced the first close of its $25 million fund, FVFII.
Source: Africa Private Equity News
Futuregrowth leads US$3mn funding round in CubeSpace
Futuregrowth Asset Management has spearheaded a $3 million funding round in CubeSpace, a global leader in satellite Attitude Determination and Control Systems (ADCS). The Stellenbosch-based company has established itself as a dominant player in the SmallSat market.
Source: Futuregrowth
GEMCORP Capital announces the launch of Kassai, a new domestic asset manager in Angola
Luanda, 12th February 2025 – GEMCORP Capital is delighted to announce the launch of Kassai a new domestic asset manager in Angola and the appointment of Walter da Cruz Pacheco as the new Chief Executive Officer (CEO).
Source: Gemcorp
HAVAÍC leads US$1mn pre-seed funding round for payments-as-a-service provider
NjiaPay, a payments-as-a-service provider solving the complexities of payments for African businesses, today announced the closing of an oversubscribed US$1 million+ pre-seed funding round. The round was led by HAVAÍC, with participation from a number of prominent angel investors, including founders of Anyfin, Banxware, and Maxidrive.
Source: HAVAÍC
Kholo Capital hits ZAR1.4bn final close
Kholo Capital Mezzanine Debt Fund I, managed by Kholo Capital, has reached a final close at ZAR1.4 billion (about $76.1 million) in commitments. The fund will make long-term mezzanine debt investments in small and medium sized businesses in Southern Africa.
Source: Africa Private Equity News
Norrsken22 leads Taager's pre-Series B funding round
Taager, a social e-commerce platform for the Middle East and North Africa (MENA) region, has raised $6.75 million in its pre-Series B funding round, led by Norrsken22.
Source: Africa Private Equity News
Qme closes US$3mn seed funding round led by AHOY
Qme, a Cairo, Egypt-based B2B SaaS startup, raised $3M in Seed funding.
Source: FinSMEs
SA-based investor buys SnoLink Logistics
South African private equity fund manager Clearwater Capital has announced the purchase of Etlin International’s temperature-controlled storage and logistics arm through a business rescue deal. This division, SnoLink Logistics, will continue to serve its existing customer base, which includes several blue chip retailers.
Source: Africa Private Equity News