August Industry News

11 Aug 2022

A collection of news across the African private equity and venture capital industry |

Apis Partners sells Retail Capital stake to mark third exit of 2022

The UK-based private equity firm Apis Partners said Wednesday its maiden fund, Apis Growth Fund I, has entered into an agreement to sell its ...

Source: The Capital Quest

Youverify closes US$1.5mn seed round led by Orange DV and LoftyInc AF

Youverify raises $1.5m in a seed round led by Orange Digital Ventures Africa (ODV) and Loftyinc Afropreneurs Fund.

Source: Disrupt Africa

Adevinta sells Gumtree to Impresa Capital

Adevinta ASA has signed an agreement for the sale of Gumtree South Africa (“Gumtree SA”), to Impresa Capital.

Source: Global News Network

Egypt's The Fashion Kingdom raises US$2.6mn seed round

Egyptian curated fashion e-commerce platform The Fashion Kingdom (TFK) has raised a US$2.6 million seed round to accelerate its growth.

Source: Disrupt Africa

FMCG raises US$12mn in series A funding

Startups that solve the supply-chain and operational challenges of players in the fast-moving consumer goods (FMCG) industry keep attracting venture capital from investors.

Source: TechCrunch

Kenyan insurtech Lami raises US$3.7mn seed extension

With its API platform gaining ground in the insurance space, the startup is also planning to provide tech solutions that will digitize agents and brokers too, helping them streamline their operations

Source: TechCrunch

Pearl Capital Partners investment in Kamp Group Limited

The fund, alongside Danish investor Gorm Pedersen, has invested in Ugandan pelleted animal feed processing, marketing, and distribution company.

Source: The Capital Quest

Digital Realty deal gives Permira and Berkshire partial exits

igital Realty's deal to acquire a majority interest in a data center business has given private equity firm Permira and Berkshire Partners.

Source: Africa Capital Digest

HAVAIC backs Kenya's FinAccess

South African venture capital firm HAVAÍC has announced a US$500,000 pre-Series A funding round in FinAccess, a Kenyan software startup.

Source: TechCabal

EFG Hermes successfully concludes advisory on latest EGP750mn financing transaction for MARAKEZ’s Mall of Arabia

The transaction is part of a wider EGP 2.25 billion financing package arranged by EFG Hermes’ Investment Banking division and EFG Hermes Corp-Solutions for MARAKEZ.

Source: Zawaya

Knife Capital returns to back DataProphet’s Series A

After backing DataProphet in 2018, Knife Capital is returning to make a follow-on investment in the AI startup's Series A funding round

Source: Africa Capital Digest

Senegal’s SociumJob Raises $1M To Pursue Francophone Africa Talent Market

SociumJob, a Senegalese job network that connects African firms with local and diaspora talent, has raised one million euros ($1M) to enhance its rollout in French-speaking Africa, according to Samba Lo, the company’s thirty-year-old founder who studied applied mathematics at the Polytechnic School of Paris, confirmed this in a statement.

Source: Afrikan Heroes

Standard Bank finances new port terminal at San Pedro, Côte d'Ivoire

The completion of a €90-million financing for the construction of a new port terminal at San Pedro, Côte d'Ivoire, marks a significant milestone in the expansion of West Africa’s transshipment hub.

Source: Standard Bank

Standard Bank invests R5 billion in MetroFibre Networx to expand fibre-optic data network rollout

MetroFibre Networx, a South African company which provides uncapped household and enterprise fibre network coverage, has secured R5 billion (~$297 million) in debt financing from Standard Bank to expand its fibre-optic data network rollout across the country.