Biotech startup Impulse Biomedical raises funding from PE firm Futuregrowth

SOUTH AFRICA – Biomedical engineering startup Impulse Biomedical has raised funding from the Futuregrowth Development Equity Fund (DEF) to speed development and release of its flagship device. The Impulse device, the ZiBiPen, was designed by engineering graduates Gokul Nair and Giancarlo Beukes while completing their Masters’ Degrees in Biomedical Engineering at the University of Cape Town (UCT). The device aims to revolutionise the emergency treatment of life-threatening anaphylaxis, a severe allergic reaction that occurs when a patient is exposed to a foreign substance such as an insect bite or certain foods.  Without…

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CardinalStone Capital Advisers announces US$64m final close of its private equity fund

NIGERIA – CardinalStone Capital Advisers (CCA), a Lagos based private equity fund manager, has announced the final close of its maiden private equity fund, the CardinalStone Capital Advisers Growth Fund LP (CCAGF) at US$64 million. The Fund which recorded its first close in December 2018 and final close in September 2020, was established to support the growth and institutionalization of small and medium-sized enterprises (SMEs) operating in two of West Africa’s leading economies—Nigeria and Ghana. “We are pleased with the successful close of our Fund in the prevailing challenging environment.…

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SPE Capital Partners announces final close of Africa-focused private equity fund SPE AIF I

AFRICA – SPE Capital Partners, an independent Private Equity firm focused on Africa and the Middle East, has announced the final close of SPE AIF I, an Africa-focused private equity fund. SPE AIF I was oversubscribed and closed at US$258 million, well above its initial hard cap of US$200 million. SPE AIF I was launched in 2019 to invest in companies across Africa, with a particular focus on North Africa. The fund strategy includes majority transactions in companies with growth potential, operating in sectors such as industrial goods, services, healthcare…

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