May Industry News

01 May 2023


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

Acumen invests in CropSafe

Acumen has invested in CropSafe — a social enterprise supporting smallholder farmers by minimizing post-harvest losses and providing access to local and international markets. This is Acumen’s first investment under our partnership with the Challenge Fund for Youth Employment, managed by the Palladium Group, Randstad and VSO, and funded by the Netherlands Ministry for Foreign Affairs. The fund’s mandate is to improve the livelihoods and resilience of low-income communities by building companies and a market that creates and improves youth jobs (ages 15-35).

Source: Acumen

Atlantica Ventures leads seed round for IoT solutions

Atlantica Ventures has led a group of investors backing a seed round for Figorr, a tech startup formerly known as Gricd

Source: Africa Capital Digest

Edtech startup Play Sense secures funding 

South Africa's Play Sense, an independent pre-school that offers play-based learning through its online micro-schools platform plaDorm, has secured an undisclosed funding round from Grindstone Ventures as it prepares for expansion.

Source: Disrupt Africa

Egypt's sovereign fund invests in El-Ezaby pharmacy

The Sovereign Fund of Egypt announced a partnership with B Investments and El Ezaby Pharmacy on Monday to establish a new pharmaceutical company named EZ International which would “provide logistical and administrative services to pharmaceutical institutions, distribution, and medicinal trade.”

Source: Zawya

DOB Equity and others invest in Zydii

DOB Equity, Kua Ventures, Kaleo Ventures and NaiBAN have invested in a pre-seed funding round in Zydii, a Kenya-based digital training solutions provider. 

Source: Africa Global Funds

Lesotho's MG Health raises US$18mn

Licensed cultivator and manufacturer of medical-grade cannabis extracts and products, MG Health is tripling its output capacity after a successful international funding round, raising $18 million in capital. The funding was secured after the company began distributing into key developed markets in 2021. 

Source: Pharmafile

RMB-backed Iziko2.0 invests in cyber security start-up

Technology investment firm Iziko2. 0, with supporting funding from RMB Ventures, has acquired a minority share in cyber security start-up Port443, for an undisclosed amount.

Source: ITWeb