November Industry News

01 Nov 2023


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


Africa Go Green Fund announces interim close of US$150mn

The Africa Go Green Fund (AGGF), managed by Cygnum Capital Asset Management, which invests in projects in Sub-Saharan Africa that reduce greenhouse gas emissions, has made headlines today with the announcementof its successful interim close helped by an investment from the Clean Technology Fund (“CTF”) of the Climate Investment Funds (CIF), for which the African Development Bank is an implementing entity. 

Source: Cygnum Capital

BluePeak invests $20mn in Prime Logistics

BluePeak Private Capital (BluePeak), an alternative asset management firm supporting the growth of scalable businesses in Africa, announced its first ESG-linked investment, a $20 million hybrid loan to Prime Logistics, a leading integrated East & Central African logistics group.

Source: LogisticsUpdateAfrica

E3 Capital backs The Carbon Value Exchange (Cavex)

The Carbon Value Exchange (Cavex) has successfully completed its initial funding round raising $6M. The round was led by E3 Capital and with the participation of FSD Africa Investments (FSDAi). The goal of this funding is to expand its digital carbon financing platform for global scalability. The partnership between E3 Capital and Cavex will also extend an opportunity for E3 Capital’s existing and future portfolio companies to access the carbon markets through this platform.  

Source: AfrikanHeros

Goodwell doubles down on African insurtech play

According to Techonomy, the extension round, led by impact investor Goodwell Investments, saw a funding infusion of $1.5m. Goodwell’s reputation for supporting growing African businesses that cater to the essentials for low-income demographics is well-known. 

Source: Fintech Global

Legacy Africa Capital Partners invests in Welltec

Legacy Africa Capital Partners’ (LACP) Fund 1 have announced a significant investment for a minority stake in Welltec, a leading Financial Wellness Technology (FinWellTech) firm. 

Source: Business Tech Africa

Mineworkers Investment Company backs car insurance platform

The infusion of funds reflects MIC’s dedication to fortifying its primary portfolio with cutting-edge direct investments, focusing on enterprises exhibiting robust growth potential, scalability, and effective management, affirms Nchaupe Khaole, MIC’s Chief Investment Officer. 

Source: TechFinancials 

Ninety One and EAIF in African ICT debt deal

Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) company, and its fund manager, Ninety One, have committed a $31m debt facility to Paratus Group Holdings to finance the expansion of its fibre and data centre business over the next three years.

Source: AfricaGlobalFunds