Member News

Pan-African venture capital firm Janngo Capital announces the final closing of its second fund at $78 million, 20% beyond its initial target.

TLG Capital is very excited to announce the first close of N10.4 billion in Series 1 of their N100 billion private debt fund, the first in Nigeria's financial history. This marks the first-ever local currency private debt fund in the country with 17 investors subscribing across the Nigeria ecosystem and attracting some of the best known Pension Fund Administrators in the country.

NAIROBI, October 3, 2024 – AfricInvest and The Health Finance Coalition (HFC) today announced the final close of the pan-African Transform Health Fund (THF), an innovative blended-finance fund that aims to bolster healthcare systems in Africa by scaling proven and innovative healthcare models across the continent.

African Infrastructure Investment Managers (AIIM) closes African Infrastructure Investment Fund 4 (AIIF4) at hard cap with USD748m in commitments plus an additional USD206m in co-investments, for a total of USD954m

Catalytic backing from the United Kingdom has enabled the Helios Climate, Energy Access, and Resilience (CLEAR) Fund to raise approximately $200 million in its first close for investment in African businesses focused on climate mitigation and adaptation. The Fund, managed by Helios Investment Partners, intends to become the largest Africa-focused climate fund with a target size of $400 million.

Impact Investors Foundation (IIF) is proud to announce the appointment of Kuramo Capital Management as the official fund manager for the Nigeria Wholesale Impact Investment Fund (WIIF). This strategic partnership marks a significant milestone in Nigeria's journey towards sustainable development and impactful investment.

Metier announced the final close for Metier Capital Growth Fund III on Friday 19 July 2024, raising over $219 million exceeding its targeted fund size of $200 million. “We are pleased with the support shown by our investors to Metier and for this result given the tough fundraising climate the African private equity industry is experiencing”, said Paul Botha, CEO and Co-founder of Metier.

EQ2 Ventures is at the forefront of a significant investment in the beauty sector, leading a $1.4 million seed funding round for Uncover, a Kenyan innovator in personalised skincare. This strategic funding will fuel Uncover's expansion into the United States, Ghana, and Uganda, underscoring EQ2 Ventures' commitment to supporting groundbreaking African startups with global ambitions.

Oasis Capital Ghana, a leading growth capital fund manager focused on West Africa, today announced the successful first close of its US$100 million Oasis Africa Fund II (OAF II). The fund has secured US$33.3 million in capital commitments and expects to raise the remainder by the end of June 2025.

Inside Capital Partners (“Inside”) is pleased to announce the successful first close of its second fund, Inside Equity Fund II (“IEF II”), with US$ 55 million in commitments.

Global Social Impact Investments SGIIC (GSI), an impact investment fund manager, today announced a 15 million euro investment from the Spanish Agency for International Development Cooperation (AECID). This investment aims to bolster GSI's strategy of investing in high-impact African companies. The funding is channeled through the Development Promotion Fund (FONPRODE), managed by AECID with advisory support from COFIDES, the Spanish Development Finance Institution (DFI), known for financing sustainable and developmental projects worldwide.

African Infrastructure Investment Managers (AIIM), a division of Old Mutual Alternative Investments, has reached financial close on the 140MW Khangela and 140MW Umsinde Emoyeni wind farms to supply renewable energy to the operations of Rio Tinto’s Richards Bay Minerals (RBM)  and Sibanye Stillwater via wheeling agreements.

FCMB Asset Management Limited (FCMB AM) hosted key professional parties at Primrose Towers in Lagos, Nigeria to sign various transaction documents for the launch of Nigeria’s first Naira-denominated Private Debt Fund, FCMB-TLG Private Debt Fund.

XSML Capital, a leading provider of growth capital to SMEs in Central and Eastern Africa, has launched its 4th fund, African Rivers Fund IV (ARF IV), with a first close of US$ 98.7 million. The new funding allows XSML to double its investments and impact over the coming years and follow investees into new markets like Zambia.

Adenia Partners (“Adenia”), a leading private equity firm focused on growth opportunities in Africa, has successfully closed its fifth fund, Adenia Capital V (the “Fund”, “AC(V)” or “Fund V”) at its $470 million hard cap. The Fund, which was significantly oversubscribed, attracted commitments from new and existing investors globally.

Norfund, alongside IFC and other DFIs, has committed $15 million to the frontier investor XSML Capital and their new fund – African Rivers Fund IV (ARF IV), bringing total commitments so far to almost $100 million. The investment will address the scarcity of capital towards the SME segment in frontier markets in Africa.

XSML Capital, a leading provider of growth capital to SMEs in Central and Eastern Africa, has launched its 4th fund, African Rivers Fund IV (ARF IV), with a first close of US$ 98.7 million. The new funding allows XSML to double its investments and impact over the coming years and follow investees into new markets like Zambia.

Joliba Capital, an African private equity firm majority-owned by LBO France, a multi-specialist and multi-country investment platform, and founded by two seasoned African investment professionals Hamada Touré (Managing Partner) and Yann Pambou (CEO & Managing Partner), is pleased to announce a first close of its inaugural fund, Joliba Capital Fund I, at EUR 89 million.

Elucid, aBerlin-based sustainability tech firm, is excited to announce the successful close of its Seed II funding round. Following the first closing of the round in August 2023, the recent investment from UBS Optimus Foundation marks the finalization of Elucid's seed funding round. This investment will help scale Elucid’s geographical reach in Africa and South America, strengthen its central team, and further enhance its digital platform.

Lexington Partners (“Lexington”), a leading manager of secondary acquisition funds, today announced the completion of fundraising for Lexington Capital Partners X, L.P. (“LCP X”) with $22.7 billion of total capital commitments. The fund surpassed its $15 billion fundraising target and significantly exceeded Lexington’s prior secondary fund, LCP IX, which closed on $14 billion in 2020.