Africa50 launches new fund to catalyze investment flows in Africa

AFRICA – Africa50, an investment bank for infrastructure in Africa, has launched Africa50 Infrastructure Acceleration Fund, a new fund aimed at catalyzing further investment flows into African infrastructure. The Fund is targeting US$500 million in multiple closings. The Fund is a result of a long-haul effort by Africa50 to mobilize further capital to help bridge Africa’s infrastructure financing gap. The Fund’s mandate is to deliver attractive risk-adjusted returns for institutional investors looking for exposure to African infrastructure assets, while playing a critical role in financing medium and large-scale infrastructure projects…

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Ghanaian Roberta Annan launches US$115m fund for fashion entrepreneur in Africa

GHANA – Ghanaian businesswoman and entrepreneur Roberta Annan launched a €100 million (US$115.59m) fund to channel investment into small and medium African creative and fashion enterprises in Africa. The Impact Fund for African Creatives (IFFAC) will award grants of up to €50,000 (US$57,793) to selected projects to accelerate development of the continent’s creative sector. The fund was launched during Paris Fashion week and was attended by fashion industry experts. The Africa Investment Forum, a flagship initiative of the African Development Bank, aims to channel investment into Africa. Annan, who also…

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Adiwale Partners raises US$69m, reaches final close of its first fund

WEST AFRICA – Adiwale Partners, an SME fund primarily targeting investments, has announced completed the final closing of its very first West African investment fund, Adiwale Fund I of around 60 million euros. The company, co-founded in 2016 by two former partners of Cauris Investment Management, raised a total of 60 million euros (US$69.6 million). This amount is below the target size of 75 million euros (US$87 million) expected by the private equity fund manager. Its two co-founders, Jean-Marc Savi de Tové and Vissého Gnassounou also regret that this final…

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ARM-Harith Infrastructure set to launch urban climate infrastructure solutions focused fund

MAURITIUS – ARM-Harith Infrastructure Investments Limited, a Mauritius-regulated infrastructure fund manager and parent company of ARM-Harith Infrastructure Investment Limited Nigeria, is set to launch the ARM-Harith Cities and Climate Transition Fund (The ACT Fund). The ACT Fund is part of ARM-Harith’s broader climate finance platform and will invest in urban climate infrastructure solutions with an initial focus on renewable energy, urban mobility, water, and waste. This US$250 million-target fund is being designed in collaboration with the Global Innovation Lab for Climate Finance, a public-private partnership initiative funded by the Dutch,…

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UNDP-Togo, FAIEJ launch US$476,000 per year fund for young entrepreneurs

TOGO – The Support Fund for Economic Initiatives for Young People (FAIEJ) and the United Nations Development Program (UNDP-Togo) has launched a new fund for the benefit of young Togolese entrepreneurs. The 265 million FCFA per year (US$476k) Togolese Facility for the Acceleration and ‘Innovation (FTAI), will help companies who are innovative and ambitious. The fund will also provide financial assistance to startups and incubators, with the goal of assisting in the formation of new enterprises and jobs for young people. “It is a fund that functions as a catalyst…

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Orange Côte d’Ivoire launches US$415m investment fund to support innovative startups

CÔTE D’IVOIRE – Orange Côte d’Ivoire, a telecommunication company, has launched a €350 million (US$415m) technological investment fund to promote the growth of innovative startups in the fields of networking and information technology, digital industries, and cybersecurity. This fund, known as Orange Venture, was announced during an information session and aims to target startups that provide solutions to the Ivorian market’s fundamental challenges as well as promote the emergence of future technological champions at the service of the transition to a more digital and responsible world. The fund’s administrators emphasize…

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Marketplace platform Homzmart raises US$15m Series A fund for its growth

EGYPT – Egyptian startup Homzmart, the Middle East’s leading furniture and home goods marketplace platform, has closed a US$15 million Series A funding round to help it speed up its already impressive growth. The capital raise was led by MSA Capital, a global investment firm with over US$1.5 billion in assets under management, and Nuwa Capital. Other participating investors include Rise Capital, Impact46, EQ2 Ventures, and Outliers Ventures. The investment takes Homzmart’s total raised capital to a total of US$17.2 million. The Egyptian startup helps customers by providing them with…

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FiveT Capital Holding launches world’s first clean hydrogen investment fund

 AFRICA – FiveT Capital Holding, an independent asset manager, has launched a private infrastructure fund, FiveT Hydrogen Fund, dedicated to delivering clean hydrogen infrastructure projects at scale. The Euro-denominated Fund intends to raise a total of US$1,189 billion (€1 billion) from a combination of financial and industrial investors. It will make largely minority co-investments into greenfield projects with key industrial players. The Fund has already received combined commitments intentions of US$218,7 million (€260 million) from Plug Power, Chart Industries Inc and Baker Hughes. In addition, Francisco Fernandez, founder and former…

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Fidelity Bank Ghana launches young entrepreneurs fund to support existing businesses

GHANA – Fidelity Bank Ghana has launched the Fidelity Young Entrepreneurs Fund (FYEF) to support existing businesses and startups of young entrepreneurs with financial and non-financial resources to harness social impact potential, build capacity and guide youth-related businesses to grow and scale up their businesses. The Fidelity Young Entrepreneurs Fund is a project which will provide both financial and non-financial support to enable youth-related businesses to survive and thrive. The focus of the fund is on businesses that are solving a problem in society, employing climate smart adaptation or mitigation…

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Nuwa capital raises US$75m first close for its debut fund, a year after launch

MENA – Dubai and Riyadh-based Nuwa Capital has announced the first close of US$75 million for its debut fund (Nuwa Ventures Fund I – NVFI), after a year of its launch, making it one of the largest venture capital (VC) funds in the region. Nuwa will invest in startups in the Middle East, North Africa, Turkey, Pakistan, and Sub-Saharan Africa while is aiming for a final close of US$100 million within this year. The firm was founded in early 2020 by Khaled Talhouni, Sarah Abu Risheh, and Stephanie Nour Prince,…

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