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Nigerian PE firm Aruwa nears Fund II close, targets 25% oversubscription
VCCircle
·
3m ago
Medial
Aruwa Capital Management, a Nigerian private equity firm, has achieved a second close for its second fund, reaching about 90% of its $40 million target. This early-stage investor, focusing on small and mid-sized businesses in Nigeria and Ghana, aims for a 25% oversubscription due to strong investor interest. Fund II, launched in 2023, attracts support from major investors including the Mastercard Foundation, Visa Foundation, and British International Investment, doubling its previous fund's size.
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PE firm Xponentia Capital hits final close of second fund with oversubscription
VCCircle
·
1y ago
Medial
Indian private equity firm Xponentia Capital has successfully closed its second fund, the Xponentia Opportunities Fund II, with oversubscription. The fund specializes in mid-market investments and has backed companies like Barbeque Nation, The Souled Store, and Easy Home Finance.
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Women-focused African PE Aruwa Capital to bet on footwear company
VCCircle
·
6m ago
Medial
Aruwa Capital Management, an early-stage PE firm focused on women-driven businesses in Nigeria and Ghana, plans to acquire a 25% stake in Yikodeen Nigeria, a local footwear maker. With $40 million in assets, Aruwa supports growth-oriented small and mid-sized businesses. This investment aligns with their strategy of empowering women in entrepreneurship and contributing to economic development within the region. The firm is based in Lagos.
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African PE Mediterrania eyes final close of Fund IV with oversubscription
VCCircle
·
11m ago
Medial
Malta-based private equity firm, Mediterrania Capital Partners, is on track to close its fourth investment fund with oversubscription. The $800 million firm has already raised over three-fourths of its target and aims to complete fundraising by the end of the year. Mediterrania Capital Partners specializes in investments in the African region.
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Rebel Foods backer Evolvence India nears target for fourth PE fund
VCCircle
·
1y ago
Medial
Private equity firm Evolvence India, known for backing companies like Rebel Foods and Dunzo, is close to reaching its target for its fourth PE fund. The firm, which previously raised around $200 million for its third private equity fund, is expected to secure a significant amount for its latest fund. Evolvence India has a strong track record of investing in promising businesses across diverse sectors.
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South African PE firm Metier closes latest fund, tops target
VCCircle
·
1y ago
Medial
South African private equity firm, Metier, has successfully closed its latest fund, raising over $219 million, exceeding its target of $200 million. The Johannesburg-based firm specializes in investing in mid-market companies in Sub-Saharan Africa. The oversubscription of the Metier Capital Growth Fund III indicates investor confidence in the region despite challenging market conditions.
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Avaana gets backing of another offshore LP, nears target for climate-tech fund
VCCircle
·
1y ago
Medial
Climate-focused venture capital firm Avaana Capital is close to achieving its target for a $120 million climate-tech fund. The firm has received backing from an offshore investor and is edging closer to the final close of its maiden fund, the Avaana Sustainability Fund. In June last year, Avaana Capital reached the first close of $70 million for the fund.
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Nigerian PE firm CardinalStone to make first exit from debut fund
VCCircle
·
1y ago
Medial
Nigerian private equity firm, CardinalStone Capital Advisers, is set to make its first exit from its debut fund. The Lagos-based firm, which focuses on supporting small and medium businesses in Nigeria and Ghana, has been invested in the portfolio company for nearly five years. CardinalStone, which was spun off from CardinalStone Partners in 2016, is currently working on the exit process.
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InCred nears final close of maiden PE fund exceeding target
VCCircle
·
6m ago
Medial
InCred Alternative Investments is approaching the final close of its maiden private equity fund, which was launched in February of the previous year. This fund, backed by KKR, may surpass its initial target corpus, according to a source familiar with the matter. InCred is part of a financial services group and this development marks a significant milestone for its growth and investment strategy.
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Riceberg Ventures marks first close of $20 mn fund
VCCircle
·
6m ago
Medial
Riceberg Ventures, a Swiss venture capital firm, has achieved the first close of its $20 million fund aimed at investing in early-stage startups focusing on technologies like AI and space tech. While the amount raised in the first close remains undisclosed, Riceberg plans to support 25-30 startups globally with an average investment of $500,000 each. The fund is backed by various investors and targets startups, primarily led by Indian founders, in regions including Europe, the US, and India.
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Nigerian PE firm CardinalStone to make first exit from debut fund
VCCircle
·
1y ago
Medial
Nigerian private equity firm CardinalStone Capital Advisers is set to make its first exit from its debut fund after nearly five years. The Lagos-based firm, which focuses on supporting small and medium-sized businesses in Nigeria and Ghana, is in the process of exiting one of its portfolio companies. This exit marks a significant milestone for CardinalStone since it spun off from CardinalStone Partners in 2016.
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