September Industry News

01 Sep 2023


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

Ascension Fund in food deal

The Good Food Fund is a new venture fund backing healthier food and drink brands tackling childhood obesity. The fund provides business support and finance to founders committed to democratising access to healthier food products and environments for families on lower incomes. 

Source: Ascension 

BIO and EDFI AgriFI back agribusiness venture

This strategic investment is earmarked to facilitate the establishment of a state-of-the-art processing facility for cashew and dried mango in the South of Bobo Dioulasso. The project’s primary objectives include ramping up processing capacities and optimizing energy utilization while adhering to sustainable practices.

Source: Delegation of the European Union to Burkina Faso

Fedgroup Capital invests in insurtech platform

InsurTech platform, LeaseSurance, secures R3m in seed financing to drive growth and innovation. LeaseSurance, a pioneering InsurTech platform underwritten by Bryte, has successfully raised R3 million in a seed financing round led by Fedgroup Private Capital.

Source: Disrupt Africa

Goat Capital lead's Anchor's US$2.4mn seed round

The latest investment round was led by Goat Capital and had participation from FoundersX, Rebel Fund, and some existing investors, including Y Combinator and Byld Ventures.n in seed funding to roll out new solutions and support its expansion into North Africa.

Source: Nairametrics

Beltone Venture Capital backs Egyptian home decor

Egyptian direct-to-consumer, digital-led home and décor brand ariika has raised a Series A equity funding round from Beltone Venture Capital.

Source: Disrupt Africa

Emata raises US$2.4mn in seed round

Venture capitalists have provided $2.4mn to Emata, a Ugandan financial technology startup that provides low-cost digital loans to farmers.

Source: Uganda Business News

Incofin exits investment in Rwanda

Incofin just sold its 28% equity stake that its Rural Impulse Fund (RIF II) had in Unguka Bank to LOC Holdings, one of the leading global financial platforms for micro, small and medium entrepreneurs (MSMEs). RIF II sold its entire 28% participation in Unguka Bank in Rwanda

Source: Incofin