Finance

Verod-Kepple Africa Partners secures $60mln to propel digital growth across Africa

Verod-Kepple Africa Partners secures $60mln to propel digital growth across Africa
Thursday, 11 April 2024 14:26

Verod-Kepple Africa Partners announced the successful closing of its inaugural investment fund, Verod-Kepple Africa Ventures (Vkav), on April 9. The company said it has secured commitments totaling $60 million from a consortium of investors, predominantly from Japan, to finance African businesses experiencing growth phases.

Launched in 2022, the fund will initially focus on companies developing digital infrastructure across various sectors. It will then target firms addressing friction between businesses or between businesses and consumers, followed by entities generating economic opportunities for communities. To date, Vkav has already backed 12 companies, notably in Nigeria (Navettes, Ceviant, and Shuttlers), Egypt (Nowpay, Nawy, and Chefaa), Kenya (Koko Networks, mTek-Services), Morocco (Chari), and South Africa (Cloudline), as well as businesses like Moove Africa and Julaya that operate across multiple African markets. These portfolio companies serve not only African customers but also a global clientele.

As of March 2023, Vkav had secured $43 million in commitments from institutional investors, with an additional $17 million raised over the past year. The final closing saw new investments from Nigeria's SCM Capital and Japanese institutions Taiyo Holdings and C2C Global Education Japan, among others.

Verod-Kepple Africa Partners, a joint venture established in 2021, combines the expertise of West African private equity firm Verod Capital Management and Japanese venture capital firm Kepple Africa Ventures.

On the same topic
Company seeks to raise 485.8 billion naira through share offering Funds to support expansion and reduce debt Strategy aims to boost local sugar...
AFC raises $100 million from India’s Exim Bank over five years Funding to support infrastructure and industrial projects in Africa Deal reflects...
New fund aims to mobilize CFA200 billion to finance 300,000 projects Targets SMEs and rural economy through Sharia-compliant financing Move seeks to...
France will provide a €100 million ($117.5 million) loan to support urban infrastructure in South Africa. The funding complements a $925...
Most Read
01

(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...

EBID makes giant strides for a green transition in west africa
02

Mahindra & Mahindra is considering a CKD assembly plant near Durban to strengthen its presence i...

Mahindra & Mahindra Eyes Major Shift to Full Vehicle Assembly in South Africa
03

AFC disbursed €43 million for Côte d’Ivoire solar project Financing supports 66 MW pla...

AFC Backs First Green Project Finance Bond for 66MW Côte d’Ivoire Solar Plant
04

Operators review 2025 investments, outline 2026 expansion plans Consumer complaints persist...

Cameroon Presses Telecom Operators on Service Quality as Complaints Rise
05

MTN Ghana launches crackdown on mobile money agent fraud Audits trigger warnings, suspensions...

MTN Ghana tightens controls on mobile money agents over fraud concerns
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.