The
weekly roundup of Africa's Private Capital news
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Here's the latest weekly wrap of the most interesting Africa-related private equity, infrastructure and venture capital deal stories, market opinion articles and information pieces.
Thank you for being a reader and we look forward to continuing to keep you informed on the private capital investment themes, deals and fundraisings in Africa.
We'd be delighted if you shared it with any interested colleagues and/or partners. If they would like to receive their own weekly copy, they're more than welcome to sign up here.
As always, if you have any tips, suggestions or questions, please reach out to Allan Cunningham at
[email protected]
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This week's issue supported by...
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Some of the heavy hitters in Africa's private equity investment ecosystem made a reappearance last week after an absence of some weeks. In the biggest reported deal of the week,
Mazarine Energy, an upstream oil and gas company with assets in Tunisia was
the beneficiary of an undisclosed investment from
The Carlyle Group. Tacked onto the deal is an equity line of up to $500 million for the Netherlands-headquartered company to access for future bolt-on acquisitions in Europe, Africa and the broader Mediterranean region. The investment is being made through the $2.5 billion Carlyle International Energy Partners fund.
Meanwhile
Actis, the private equity firm that has over $3 billion in investments across Africa,
is investing an undisclosed amount in
Mundiapolis University. The investment will support the private Moroccan university's plans to expand its offering and accelerate its internationalization. It's the latest of a number of education deals for Actis, which has backed education businesses in growth markets to the tune of almost $400 million in recent years, capitalizing on the trend for emerging market families to secure their own and their children's future.
Harith General Partners has announced that it is
purchasing a significant stake in
NOVO Energy, a South African integrated gas company that services the needs of vehicular, industrial, commercial and residential customers across Africa using compressed natural gas technology. The investment is being made through Harith's Pan African Infrastructure Development Fund 2 which is targeting a final close of $1 billion, and recently announced a first close of $435 million. The deal allows Harith to participate in a market which is widely accepted to be a significant part of the energy mix and economies of a number of African countries for the foreseeable future. The investment will accelerate the roll-out of infrastructure required to link gas supplies and gas markets in Africa.
On a smaller scale,
Phatisa's Pan Africa Housing Fund has agreed
to back the development of 301 middle income residential properties on a 21 hectare site in the Lusaka's Makeni suburb, a 20-minute commute from the centre of the Zambian capital. The Camland Villas development is a multi-phase, build-to-sell project featuring two and three bedroom homes in an area well-serviced by a host of newly built shopping malls, factories, clinics, schools and colleges. The deal marks the sixth investment for PAHF, a $41.95 million fund which began operations in early 2013.
For its second investment in two weeks,
XSML Capital, the Dutch investment fund manager focused on SME opportunities in Central Africa, has
made an undisclosed investment in
Laboratoire BIS, a manufacturer of generic pharmaceuticals in the Democratic Republic of Congo. The deal is being made through the Africa Rivers Fund, XSML's second fund the Africa Rivers Fund which held a $45 million first close in February this year and targets debt, equity and mezzanine financing opportunities in fast-growing SMEs in deal ranging from $100,000 to $5 million in size.
In fundraising news,
One Thousand & One Voices, the private family capital fund looking to raise $300 million,
has secured $121.3 million from over 35 LPs so far according to a filing make with the
US Securities and Exchange Commission. The private equity fund, which solicits minimum investment commitments of $100,000 from high net worth individuals and family offices, targets opportunities in agribusiness, consumer, retail, logistics and manufacturing industries in sub-Saharan Africa.
Over the last week to ten days,
The Abraaj Group has
featured in a number of items about planned or potential private equity deals in Africa; the stories rang from news of three imminent deals in Sub-Saharan Africa to a potential $500 million investment to build a mid-tier hospital chain on the continent to leading a syndicate of investors to bid for a significant minority stake in
Barclays Africa Group.
In its recently published report on Venture Finance in Africa,
VC4Africa, the venture capital portal, has found that
the growing levels of interest in African startups from international and domestic investors has seen the amount of invested capital more than double in 2015 when compared to 2014. According to the 2016 Venture Finance in Africa report, investors invested $73 million in capital in 2015, jumping up from $27 million in 2014, with the average amount invested per venture increasing from $200,000 to $326,000 over the same time period.
And finally, an interesting profile of
Capital Eye, the South Africa investment firm that has launched a $100 million venture capital fund.
Disrupt Africa sat down with
Ravindra Mistri, an associate at the firm
to discuss the fund, its strategy and the types of firms it looks to invest in.
As always, you can review these and other stories by scrolling down to review this week's complete issue of
Africa Capital Digest.
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Mazarine Energy, with assets in Tunisia, gets backing and a $500mln equity line for add-on acquisitions from Carlyle Image Credit: Mazarine Energy |
Private Equity
Carlyle backs Mazarine Energy with $500mln equity line
In its fifth deal for its $2.5 billion Carlyle International Energy Partners fund, The Carlyle Group is making an undisclosed investment in Mazarine Energy, an upstream oil and gas company with assets in Tunisia, and providing the Dutch headquartered company with access to a $500 million equity line for future bolt-on acquisitions in Europe, Africa and the Mediterranean region.
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Private Equity
Actis backs Morocco's Mundiapolis University
Actis, the private equity firm that has over $3 billion in investments across Africa, is investing an undisclosed amount in Mundiapolis University. The investment will support the private Moroccan university's plans to expand its offering, accelerate its internationalization and strengthen its contributions to the African continent.
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Private Equity
Harith purchases significant stake in NOVO Energy
Harith General Partners has announced that it is purchasing a significant stake in NOVO Energy, a South African integrated gas company that services the needs of vehicular, industrial, commercial and residential customers across Africa using compressed natural gas technology. The investment is being made through Harith's Pan African Infrastructure Development Fund 2. Terms of the deal were not disclosed.
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Private Equity
Phatisa's PAHF backs Lusaka housing development
Phatisa's Pan Africa Housing Fund has agreed to back the development of 301 middle income residential properties on a 21 hectare site in the Lusaka's Makeni suburb, a 20-minute commute from the centre of the Zambian capital. The site will be developed by local real estate firm Camland Estate. Terms of the deal were not disclosed.
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Private Equity
XSML backs Laboratoire BIS for ARF's second deal
For its second investment in two weeks, XSML Capital, the Dutch investment fund manager focused on SME opportunities in Central Africa, has made an undisclosed investment in Laboratoire BIS, a manufacturer of generic pharmaceuticals in the Democratic Republic of Congo.
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Private Equity
Zeder Investments acquires 49% stake in Farm-AG group
Zeder Investments, the JSE-listed investment holding company that targets agribusiness opportunities in Southern Africa, is acquiring a 49% stake in Farm-Ag, a producer and distributor of crop protection chemicals. Structurally the transaction is being executed through Zaad Holdings, Zeder's wholly owned seed platform subsidiary, which has established itself as a leading producer, marketer and distributor of agricultural seeds in the in the region and overseas.
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Funds & Financing News...
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Private Equity
1k1v crosses $120mln in commitments for first fund
One Thousand & One Voices, the private family capital fund looking to raise $300 million, has secured $121.3 million from over 35 LPs so far according to a filing make with the US Securities and Exchange Commission. The private equity fund, which solicits minimum investment commitments of $100,000 from high net worth individuals and family offices, targets opportunities in agribusiness, consumer, retail, logistics and manufacturing industries in sub-Saharan Africa.
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Private Equity
IFC mulls commitment to $10mln tech fund
The IFC's Board of Directors is set to meet in early July to consider a $1.5 million equity commitment to Africa Angels Network Seed Stage One Fund, a CRE Venture Capital-managed fund which is looking to raise $10 million in angel and seed stage technology investment in sub-Saharan Africa.
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AVAILABLE NOW!
The 2016 Guide to sub-Saharan Private Equity
featuring
178 Investment firms,
1,167 Investment Professionals
and
1,029 Portfolio Companies
*Profiles with Names, Emails of each firm's investment professionals
*Details of active funds, preferred deal sizes, regional and sector preferences
*Information on current portfolio companies and projects
*Headquarter and Regional Office contact details
*Quick reference indexes of fund managers and portfolio companies by sector
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Projects & Portfolio Companies...
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Sun pays Peermont $43mln fee in collapsed deal
Following South Africa's Competition Commission recommendation to prohibit Sun International's planned acquisition of Peermont Group, Sun International will pay the casino operator $42.8 million. Payment had been agreed in the event of the deal failing and operations at Menlyn Maine, Sun International's new leisure complex in Pretoria, had begun. Peermont is owned by a number of investors including the Mineworkers Investment Company, which led a consortium of management and community trusts in a buy-out of Peermont in 2007.
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Strategies
Abraaj in flurry of potential Africa deals
Over the last week to ten days, The Abraaj Group has featured in a number of private equity stories about planned or potential deals in Africa, ranging from news of three imminent deals in Sub-Saharan Africa to a potential $500 million investment to build a mid-tier hospital chain on the continent to leading a syndicate of investors to bid for a significant minority stake in Barclays Africa group.
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Trends
Investor appetite for early stage deals on the rise
In its recently published report on Venture Finance in Africa, VC4Africa, the venture capital portal, has found that the growing levels of interest in African startups from international and domestic investors has seen the amount of invested capital more than double in 2015 when compared to 2014.
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Companies, People & Profiles...
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Meet the Investor; Ravindra Mistri of Capital Eye
Following reports last week that South African investment company Capital Eye has launched a $100 million venture capital fund, Disrupt Africa sat down with Ravindra Mistri, an associate at the firm to discuss the fund, its strategy and the types of firms it looks to invest in.
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I&M Shareholders approve Burbidge deal
The Shareholders of I&M Holdings have given their approval to the East African banking group's acquisition of a 65% stake in Burbidge Capital, a corporate finance advisory firm, in a deal that was first announced in October 2015. The terms of the deal remained undisclosed.
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Investment Associate at CrossBoundary
Based in Bamako, Mali
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Principal at CrossBoundary
Based in Abuja, Nigeria
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Principal at CrossBoundary
Based in Johannesburg, South Africa
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Associate at CrossBoundary
Based in Johannesburg, South Africa
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Investment Associate at Enko Capital
Based in Johannesburg, South Africa
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Private Equity Associate at Musa Capital
Based in Johannesburg, South Africa
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Investment Analyst at Enko Capital
Based in Johannesburg, South Africa
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The Global African Investment Summit Kigali
Kigali, September 5th to September 6th, 2016
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7th Annual TMT Finance & Investment Africa
London, June 14th, 2016
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18th Annual Africa Energy Forum
London, June 21st to June 24th, 2016
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SuperReturn Emerging Markets 2016
Amsterdam, June 27th to June 29th, 2016
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EAVCA's 2nd Annual Private Equity in East Africa Conference
Nairobi, June 28th, 2016
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Lagos, September 20th, 2016
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Kenya International Renewable Energy Congress
Nairobi, October 3rd to October 5th, 2016
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8th Africa PPP Conference & Showcase
London, October 24th to October 26th, 2016
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Dubai, October 24th to October 26th, 2016
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Sub-Saharan Africa Power Forum 2016
Dubai, October 26th to October 28th, 2016
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We hope you found the digest to be a useful summary of the major happenings in Africa's private capital markets last week. We'd love it if you shared it with colleagues and business partners. They can sign up for free
here.
Best wishes for a productive week - if you have any tips, suggestions, questions or comments, please get in touch.
All the best,
- Allan
Allan Cunningham
Editor & Publisher
AfCD | Africa Capital Digest
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Africa Capital Digest is a product of Rowayton Press
Rowayton, CT 06853, USA
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