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East Africa-focused PE firm Ascent Capital strikes fourth bet from fund II

VCCircle

VCCircle · 1y ago

East Africa-focused PE firm Ascent Capital strikes fourth bet from fund II

Ascent Capital, an East Africa-focused private equity firm, has made its fourth investment from its second fund, Ascent Rift Valley Fund II. The firm acquired a minority stake in Kenyan paper packaging manufacturing company, Dune Packaging, through the $128 million fund. Dune Packaging produces paper packaging materials used in various industries, including food and beverage, pharmaceuticals, and retail. The deal includes veto rights for Ascent Capital in terms of senior management appointment, business plans, and budgeting decisions. Ascent Capital's second fund invests in small and medium-sized enterprises across Ethiopia, Kenya, Uganda, Rwanda, and Tanzania in various sectors.

Related News

SPE Capital hits first close for its $350 mn North Africa PE fund

VCCircle

VCCircle · 1y ago

SPE Capital hits first close for its $350 mn North Africa PE fund

SPE Capital, a private equity firm focused on Africa and the Middle East, has reached the first close for its third fund, SPE PEF III. Managing a portfolio of over 15 companies, SPE Capital has raised $350 million for its North Africa-focused fund. The firm recently re-acquired a minority stake in Moroccan consumer products company Dislog. The fund will be sector-agnostic, providing investments across various industries in the region.

SPE Capital looking to strike LP-style bet for latest vehicle

VCCircle

VCCircle · 1y ago

SPE Capital looking to strike LP-style bet for latest vehicle

SPE Capital is seeking a new European institutional investor for its third fund, the SPE III Fund. The private equity firm is targeting the Dutch entrepreneurial development bank, FMO, for a potential investment of $25 million in the sector-agnostic, North-Africa-focused fund. SPE Capital specializes in Africa and Middle East investments, with a portfolio of over 15 companies.

Namibian PE firm Eos Capital strikes second bet from agri-focused fund

VCCircle

VCCircle · 1y ago

Namibian PE firm Eos Capital strikes second bet from agri-focused fund

Eos Capital, a Namibian private equity firm, has made its second investment from its agri-focused fund by backing a poultry company in a consortium deal. The firm has partnered with Africa Venture Partner Projects and Oyeno Poultry Industries for the investment. Eos Capital manages $55 million in assets across three investment vehicles.

French PE Amethis marks second exit from Fund II, monetises six-year-old bet

VCCircle

VCCircle · 5m ago

French PE Amethis marks second exit from Fund II, monetises six-year-old bet

French private equity firm Amethis has fully exited its six-year investment in Mozambique-based wheat milling company, Merec Industries. This marks Amethis's second exit from Fund II. The firm, managing $1.2 billion in assets, supports mid-sized businesses in Africa and Europe. The Mozambique joint venture focused on expanding Merec Industries, a leading miller and packaged food manufacturer in the region, before full monetization of the investment.

Jordanian climate infra-focused PE firm Catalyst Investment gets European LP

VCCircle

VCCircle · 1y ago

Jordanian climate infra-focused PE firm Catalyst Investment gets European LP

Jordan-based private equity firm Catalyst Investment Management is bringing on board a European limited partner for its third investment vehicle, Catalyst MENA Climate Fund II. The firm focuses on renewable energy and climate infrastructure in the Middle East and North Africa region. The fund invests in greenfield and brownfield renewable energy projects.

Africa-focused Dutch PE firm XSML Capital taps another LP for fourth fund

VCCircle

VCCircle · 10m ago

Africa-focused Dutch PE firm XSML Capital taps another LP for fourth fund

- XSML Capital secures investment commitment from another limited partner for its fourth fund. - Dutch private equity firm focuses on Africa and manages over $150 million in assets. - Raised $98.7 million in the first close of its fourth fund in March. - Amsterdam headquartered firm is known for its African Rivers Fund. - XSML Capital aims to support and invest in small and medium-sized businesses in Africa. - The firm has a strong track record of successful investments in various sectors across the continent.

VC firm MEVP marks second full exit from Fund II, DPI reaches 118%

VCCircle

VCCircle · 8m ago

VC firm MEVP marks second full exit from Fund II, DPI reaches 118%

Middle East Venture Partners (MEVP), a Gulf-focused venture capital firm, has achieved its second full exit from Fund II. The exit was made through a cross-border acquisition of one of its portfolio companies. MEVP specializes in investing in early and growth-stage tech startups and is currently deploying its fourth investment vehicle. This successful exit comes just nine months after its first exit from Fund II. MEVP continues to support the growth of the tech startup ecosystem in the Middle East.

Africa-focused PE firm Alta Semper set to rope in returning LP for second fund

VCCircle

VCCircle · 1y ago

Africa-focused PE firm Alta Semper set to rope in returning LP for second fund

Africa-focused private equity firm Alta Semper is set to secure a commitment from a global financial institution for its second fund, the Alta Semper Growth Fund II. With a target of $150 million, the firm primarily invests in mid-segment growth companies in the healthcare and consumer goods sectors in Africa. The London-based firm aims to attract returning limited partners (LPs) for this new fund.

Africa-focused PE XSML Capital marks first close of fourth fund

VCCircle

VCCircle · 1y ago

Africa-focused PE XSML Capital marks first close of fourth fund

XSML Capital, a Dutch private equity firm focused on investments in Africa, has announced the first close of its fourth fund. The African Rivers Fund IV (ARF IV) raised $98.7m, surpassing the previous fund's size. ARF IV has a target of $135m and aims to make over 50 investments in small and medium-sized enterprises (SMEs) across Central and Eastern Africa. The fund has already attracted investment from various European institutional investors including British International Investment, FMO, Norfund, IFC, SIFEM, and Swedfund. XSML Capital plans to open an office in Zambia in 2024.

African PE firm Admaius Capital Partners strikes third bet from debut fund

VCCircle

VCCircle · 1y ago

African PE firm Admaius Capital Partners strikes third bet from debut fund

Admaius Capital Partners, an African private equity firm, has made its third investment from its debut fund, Virunga Africa Fund I. The Rwanda-based firm has invested in an Egyptian pharmaceutical company, marking another deployment from its $250 million fund. Admaius Capital Partners focuses on investments across Africa and has offices in Kigali, Nairobi, Johannesburg, and Cairo. The firm aims to support and grow businesses across the continent through its strategic investments.

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