South Africa’s edtech iXperience raises US$2.5m in Series A funding

SOUTH AFRICA –  Education-technology start-up iXperience, also known as Ix, has secured US$2.5 million in series-A funding from South African investment firms Kalon Venture Partners and Caleo Private Equity. iXperience partners with high schools, universities and the private sector to provide “progressive education programmes and services that equip students with industry-focused skills”. The company plans to use the funding to grow its team, continue to invest in its proprietary technology platform, launch programmes in new markets, and build its global partnerships division that is focused on working with companies, governments…

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Investment platform Pangea Accelerator’s 2021 Scale-Up Program to invest up to US$3m in East African start-ups

EAST AFRICA – Investment platform Pangea Accelerator, has launched a scale-up program to support start-ups and grow them from seed to series A to enable more African entrepreneurs to gain access to the capital they need to accelerate their enterprises. The investment platform will invest between US$0.5 million to US$3 million into East African start-ups as only 6% of local founders have raised over US$1m compared to start-ups founded by expatriates.  Pangea Accelerator aims to help bridge the gap between entrepreneurs and investors and provide them with the skills they need…

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Online investment portal Wealth Migrate gets license to offer crowdfunding services

SOUTH AFRICA –  Online investing portal Wealth Migrate SA, has been approved as a Category I Financial Services Provider, which allows it to provide its crowdfunding offering on an intermediary services basis using shares as a financial product category. This marks the completion of a long journey that Wealth Migrate began about a decade ago. Chief Executive Officer Scott Picken said: “To put this into perspective, we worked with the Financial Sector Conduct Authority or FSCA (formerly known as Financial Services Board) for 10 years to allow this to happen,…

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Investment firm Goodwell unveils US$60m fund to support high growth SMEs in Africa

AFRICA – Amsterdam-based investment firm Goodwell, which has investments in Copia, MFS Africa, Good Nature Agro, Tomato Jos, and Nomanini has launched a US$60 million investment fund for entrepreneurs in Africa. Dubbed Goodwell V, the fund will channel capital from private investors, family offices and foundations to fast-growing, scalable small and medium-sized companies and is expected to launch in the second half of 2021. According to Goodwell Director of Communications Nico Blaauw: “We are convinced that businesses led by local entrepreneurs are the key drivers of inclusive growth in Africa. Therefore, the…

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Interact Climate Change Facility secures US$60m from FMO, OeEB and Swedfund

AFRICA – FMO, OeEB and Swedfund have agreed to invest €50 million (US$60.38m) to the Interact Climate Change Facility (ICCF), a co-financing facility providing financing to climate-related investments in emerging markets. FMO, a Dutch development bank, will commit €20 million (US$24.15m) while OeEB, the Development Bank of Austria, will provide €15 million (US$18.11m) and Swedfund, a Sweden’s Development Finance Institution, will commit €15 milion (US$18.11m). ICCF offers co-financing for its funders for senior loans, mezzanine debt and guarantees with a maximum tenor of 18 years. The funding capacity of ICCF…

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Novarick Homes set to invest in more sustainable and renewable lifestyle

NIGERIA – Novarick Homes and Properties, a real estate development company has announced that it is geared towards investment in more sustainable and renewable lifestyles as part of its contribution to achieve a conducive environment in Nigeria. The firm recently unveiled its new Ruby 2 and Ruby 3 collection of Semi-Detached and Terrace Duplexes, right in the heart of Lagos, Nigeria. The Ruby 2 project comprises of four units of exquisite Semi-Detached Duplexes with BQ which features spacious rooms, family lounge, fully fitted kitchen, a walk-in closet, Jacuzzi and well-equipped…

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Private real estate developer GREA to build US$4m commercial office in Ghana

GHANA – Gateway Real Estate Africa (GREA), a private real estate development company, has announced that it will build its first commercial office building in Ghana at Appolonia City, which is an inclusive mixed-use new city 20 km from the centre of the capital Accra. The Grade A commercial complex will offer corporate office and retail space. With an anticipated completion in 2022, the four-storey building will benefit from Appolonia City’s existing world-class infrastructure, such as roads, power, water, waste management and information and communication technology. US$4 million will be invested…

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Fibre network provider MetroFibre raises US$168m in new debt deal with Investec

SOUTH AFRICA – Fibre telecommunications infrastructure company MetroFibre Networx has raised US$168 million in new debt financing, led by Investec, an Anglo-South African international banking and wealth management group, adding to the US$101 million raised from shareholders in November 2020. According to the company, the raised funds will be used to support MetroFibre’s fibre network roll-out across South Africa, including deploying infrastructure in underserviced homes and businesses. MetroFibre shareholders include African Rainbow Capital, Sanlam Private Equity and African Infrastructure Investment Managers (AIIM). MetroFibre financial director Wayne Edwards said in a statement that there…

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PE firm Moshe Capital launches US$23.5m investment fund

SOUTH AFRICA – Private equity company Moshe Capital Fund Managers, has launched an investment fund worth US23.5 million and is actively searching for companies to invest in. According to Ventureburn reports, the private equity firm secured the new funding from FNB Commercial and through a partnership agreement with RMB Ventures. Mametja Moshe, founder, and CEO of Moshe Capital provided insight into the type of companies the private equity firm aims to invest in. “Despite economic challenges, there are several opportunities for investment and growth in various sectors such as manufacturing, industrial, mining…

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Kenya-based Savannah Fund launches US$25m Africa tech seed fund

KENYA – Seed capital fund Savannah Fund, has announced a US$25 million fund that will invest in early-stage startups across Sub-Saharan Africa with a focus on supporting women entrepreneurs and disruptive companies in high-growth sectors.  Savannah Fund is one of the earliest Sub-Saharan Africa-focused tech venture capital firms, starting its investment activities in 2012 when it launched its first accelerator programme in Kenya.   In 2016 and led by Mbwana Alliy and Paul Bragie, it transitioned completely to seed and Series A investments, and has to date invested in 31 companies across…

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