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South African crypto firm VALR looking at international expansion, forays into Poland
VCCircle
·
1y ago
Medial
South African cryptocurrency exchange VALR is expanding its services into Poland and considering further expansion into other jurisdictions globally, according to CEO Farzam Ehsani. The move comes after VALR obtained licences from South Africa's Financial Sector Conduct Authority, which aims to create a regulated environment for cryptocurrency users. VALR currently serves over 600,000 retail customers and over 1,000 institutional customers. Ehsani said the company aims to attract more clients from outside South Africa and become a global player in the crypto market. VALR is also considering licensing opportunities in African countries including Nigeria, Kenya, Ghana, and Egypt.
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African PE firm Vantage Capital acquires minority stake in BPO
VCCircle
·
1y ago
Medial
Johannesburg-based private equity firm Vantage Capital has invested $18.5 million in Procera Group, a South African BPO company serving local and international clients. The investment includes acquiring a significant minority stake and providing a mezzanine facility for future acquisitions. The move aims to support Procera's expansion into international markets and capitalize on the growing BPO sector in Africa. Vantage Capital has made 33 investments across 11 African countries since 2006 and sees potential in Procera's rapid international expansion and technological solutions. The investment was made through Vantage's fourth Mezzanine Fund, which raised $378 million in 2022.
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Africa private equity firm DPI forays into venture capital, to take over fintech fund
VCCircle
·
3m ago
Medial
Development Partners International (DPI), an Africa-focused private equity firm, is venturing into the venture capital space by creating DPI Venture Capital. This new branch will manage the Nclude Fund, a fintech-focused fund with $105 million in assets. DPI aims to target early-stage, growth-oriented technology businesses across Africa. This expansion underscores DPI's ambition to diversify investment strategies on the continent, especially in the promising yet underpenetrated African venture capital ecosystem.
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South African PE Sanari Capital set to acquire power generation products maker
VCCircle
·
11m ago
Medial
South African private equity firm Sanari Capital is looking to acquire an energy generation products manufacturing and services company as part of its focus on mid-market growth companies in Sub-Saharan Africa. Led by CEO Samantha Pokroy, the firm will use its second investment vehicle for the acquisition.
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Amazon to launch online shopping service in South Africa in 2024
Economic Times
·
1y ago
Medial
Amazon is reportedly planning to launch its online shopping service in South Africa in 2024. This expansion into the African market comes as part of Amazon's efforts to tap into the growing e-commerce sector on the continent. The move is expected to provide consumers in South Africa with a wider range of products and increase competition in the local retail industry.
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CoinDCX elevates Mridul Gupta to founding partner
Entrackr
·
1y ago
Medial
Crypto exchange CoinDCX has elevated Mridul Gupta as its founding partner. In his new role, Gupta will be responsible for meeting the company’s growth goals, focusing on international expansion, building high-performance teams, and driving profitability. According to CoinDCX, Gupta will continue to be responsible for the India market, strengthening its product portfolio, marketing, partnerships, and operations to accelerate the firm’s strategic growth in India. He joined the platform in 2021 as its chief operating officer (COO) and has been instrumental in building compliant crypto investment & trading products. Prior to CoinDCX, he was the chief strategy officer at Pine Labs. He also had a stint at Stellaris Venture Partners, Goldman Sachs, his own startup and consulted multiple banks across India & South East Asia. Recently, CoinDCX has acquired BitOasis as they are planning to enter into the Middle East and North African market. Launched in 2018 by Sumit Gupta, CoinDCX is a cryptocurrency trading platform designed to facilitate cryptocurrency transactions. The company’s platform allows customers to trade multiple cryptocurrencies legally and withdraw funds to their bank account.
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African PE Temo Capital to acquire metal auto parts maker
VCCircle
·
11m ago
Medial
African private equity firm, Temo Capital, will acquire a South African stainless steel accessories maker. The PE firm, known for its healthcare focus, will use its investment vehicle, Growth Capital Partners II, for the acquisition.
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Solcon Capital's CEO on IFC partnership, India-Africa deal split and more
VCCircle
·
1y ago
Medial
The International Finance Corporation (IFC) has partnered with Solcon Capital, a South African private investment firm, to form a co-investment platform. This platform will focus on investing in technology-focused companies in Africa. The partnership aims to support businesses in various domains and promote economic growth in the region.
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Dubai-headquartered Invictus set to acquire African flour mill business in bid to expand
VCCircle
·
9m ago
Medial
Dubai-based company, Invictus, is looking to acquire a flour mill business in Mozambique as part of its expansion plan into the African market. Invictus is an agro food enterprise listed on the Abu Dhabi Stock Exchange and aims to become an integrated agro-food enterprise in the Middle East and Africa. This acquisition will help Invictus to increase its geographical presence and strengthen its position in the African continent.
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Exclusive: Rohatyn, DPI set to exit joint South Africa bet via strategic sale
VCCircle
·
1y ago
Medial
US asset management firm The Rohatyn Group (TRG) and Africa-focused private equity firm Development Partners International (DPI) are reportedly planning to exit their joint investment in a South African logistics and distribution company. The private equity consortium, led by TRG-owned Ethos Private Equity, has been involved in the investment for a decade. The two firms are said to be exploring a strategic sale as part of their exit strategy.
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PE firm Summit Africa set to appoint another anchor investor for second fund
VCCircle
·
3m ago
Medial
Summit Africa, a South African investment firm, is preparing to onboard a US-based limited partner as an anchor investor for its second fund. This follows a commitment from British International Investment. The Johannesburg-based private equity firm, known for supporting small and medium-sized enterprises, aims to raise $135 million for its new fund, expanding on its previous initiatives to boost economic growth and development in the region.
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