Top 25 Funds to Watch in 2018 (free content)

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Fundraising for Africa is set for a busy year following a challenging 2017, with a number of expected fund launches and closes. Private Equity Africa looks at some of the key vehicles to look out for in 2018.

ADIWALÉ PARTNERS is on the fundraising trail with a small-cap regional fund. The vehicle is targeting opportunities across West Africa, particularly in the Francophone region.

ADVANCED FINANCE AND INVESTMENT GROUP (AFIG) is in the market with its sophomore fund. The generalist close-ended fund has a leaning towards agriculture, manufacturing, energy, healthcare, financial and business services deals.

AFRICA CAPITALWORKS is raising a permanent capital private equity vehicle. The fund is structured to invest across Sub-Saharan Africa, and has received regulatory clearance to sell its fund to US-based LPs.

AFRICINVEST is in the market with its fourth  regional-focused generalist vehicle. The fund targets investments in small and mid-cap companies in North Africa.

ALITHEIA IDENTITY MANAGERS is raising its small-cap fund, looking to back companies across Sub-Saharan Africa. The vehicle has a specialist focus on women-owned business and the fund team is led by three female partners.

AMETHIS FINANCE is raising its second generalist vehicle to target investments across Africa, with a focus on lower mid-cap deals. The fund is structured as a pure equity vehicle. The previous vehichle had an allocation to debt investments.

ÀRGENTIL CAPITAL PARTNERS is approaching the first close of specialist West Africa-focused fund. The vehicle has a focus on renewable energy and clean fossil fuel power firms.

ARKANA PARTNERS, a new firm founded in 2016, is planning to raise a mid-cap Africa-focused fund. The vehicle follows a generalist strategy.

CATALYST PRINCIPAL PARTNERS has been raising its second regional generalist fund. The vehicle has a focus on East Africa and delivered its first deal in 2017.

CEPHEUS GROWTH CAPITAL PARTNERS is raising a country-focused generalist fund. The investor is looking to back companies across Ethiopia – with a leaning towards the consumer and agriculture sectors. The fund hit first close in 2018.

EMERGING CAPITAL PARTNERS (ECP) is raising its fourth Africa-focused fund,  a generalist pan-Africa  strategy, in line with its previous vehicles. ECP backs companies in the upper mid-cap space.

EQUATOR CAPITAL PARTNERS is working towards the final close ofits Africa-focused financial services-dedicated fund, expected by 2018 year-end. The fund will solely invest in Africa – Equator’s previous funds have mainly been invested in Asia.

ETHOS PRIVATE EQUITY is on the final leg of raising its mid-cap focused fund. Ethos also has two other vehicles on the road. One is structured as a large-cap  generalist  vehichle, with an allocation to Sub-Saharan and Africa. The other is a mezzanine fund, the manager’s first in the space.

EXEO CAPITAL, jointly-owned by Agri-Vie and Stanlib Asset Management, is on the fundraising trail with its sophomore specialist agriculture fund. The vehicle is targeting investments across Sub-Saharan Africa.

FANISI CAPITAL is in the market with a sophomore vehicle. The East Africa focused fund is over 70% larger than what was raised in the previous fund. The vehicle follows a generalist strategy.

INSIDE CAPITAL PARTNERS is on the road with its generalist maiden vehicle. The vehicle targets investments across Southern and Eastern Africa-focused maiden vehicle.

KUKULA CAPITAL is on the fundraising trail with its sophomore fund. The new vehicle will see Kukula grow its geographical reach adding Malawi and Zimbabwe to its historically Zambia-focused deal making.

MEDITERRANIA CAPITAL PARTNERS is raising its third generalist fund. The Africa-focused vehicle sees Mediterrania grow its footprint beyond the Maghreb region.

PHATISA is on the road with its sophomore agriculture-focused vehicle, to target opportunities across Sub-Saharan Africa. The investor is looking to back companies in the agriculture and consumer food sectors.

SYNERGY CAPITAL MANAGERS is back on the fundraising trail with its sophomore region-focused generalist vehicle. In this second fund, the investor will continue to deploy capital across Nigeria and Ghana expanding its strategy with the new fund to Liberia and Sierra Leone.

TLCOM CAPITAL is raising trail with its early-stage specialist vehicle. The fund will back between technology companies at early-stage and expansion stages, targeting firms across Sub-Saharan Africa, with a focus on Kenya, Nigeria and Ghana.

TLG CAPITAL is in the market with an open-ended debt vehicle. The fund follows a generalist strategy and will opportunistically look at mezzanine investments.

UHURU INVESTMENT PARTNERS, set up in 2016, is on the road with its maiden generalist vehicle. The investor plans to back mid-cap companies primarily in Kenya, Côte d’Ivoire, Nigeria and Ghana.

ZOSCALES PARTNERS is raising an East Africa-focused vehicle. The fund is structured to have a 70% exposure to Ethiopia – with the remainder going into Tanzania and Kenya.

ZEBU INVESTMENT PARTNERS (ZIP) is raising its sophomore specialist vehicle, looking to invest in the agriculture sector. ZIP, formerly Databank Agrifund Manager, is targeting food production companies across pan-Africa, with a focus on Sub-Saharan Africa.

 

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