The article provides an update on various venture capital and private equity funds operating in Africa. Here’s a summary of the new funds or updates listed:
- Pepea Fund: A €20 million impact investing fund set up by Goodwell Investments and Oxfam Novib to provide mezzanine finance to early-stage startups in Kenya, Uganda, and Ethiopia.
- Convergence Partners Digital Infrastructure Fund: A $296 million fund that plans to invest in digital infrastructure opportunities such as fiber networks, data centers, wireless, towers, cloud, IoT, AI, and others essential for the growth of the African digital economy.
- uMunthu II fund: A €57 million ($61 million) impact private equity fund by Goodwell Investments and Alitheia Capital that will invest in local entrepreneurs providing solutions to local issues, particularly those ensuring high-quality, reasonably priced goods and services for underserved low-income groups.
Additionally, the article provides updates on existing funds:
- Alterra Capital Partners: Raised $140 million from Aliko Dangote’s backing, with investments in consumer goods, telecommunications, technology, logistics, and healthcare.
- Sanari 3S Growth Fund: Had a second close of $65 million, investing in founder-run, owner-managed, and family-owned businesses across the mid-market segment.
No new funds are mentioned beyond these updates on existing ones.