Development Partners to Invest $900-million for Tech investments in Africa

A premier investment firm focused on Africa, Development Partners International (DPI) is set to close the African Development Partners III Fund at a value of $900-million.

The fundraising establishes ADP III as one of the largest funds dedicated to investing global capital in Africa.

After the fund exceeded its $800 million target, DPI said in a statement on Monday, that an additional injection of $250-million “dedicated co-investment capital” should be expected.

“This brings a total of $1.15-billion for investment on the continent. The fundraising establishes ADP III as one of the largest funds dedicated to investing global capital in Africa” DPI said.

Your Friends Also Read:  Nigeria’s #ENDSARS Protests: A Window Into How Creative Art Can be a Therapy

“ADP III will invest in established and growing companies in industries that benefit from Africa’s fast-growing middle class and the increasing digital transformation of the continent.”

Miles Morland, Co-Founding Partner and Chairman co-founded DPI in 2007 after almost 20 years in Africa investing.

ADP III investors include pension and sovereign wealth funds, insurance companies, fund-of-funds, development finance institutions, asset managers, endowment and foundations, and impact investors. The investors come from 20 countries in North America, Europe, the Middle East and Africa.

To date, ADP III has made four investments:

Channel VAS, a global fintech business providing mobile financial services;

SICAM, a Tunisian tomato producer;

MNT-Halan, a fintech ecosystem provider in Egypt; and

Kelix Bio, a biopharmaceutical platform broadening access to speciality generic drugs across Africa.

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from News Central TV.


Previous Article

South Sudan Waives Visa Entry Fees for Ugandans

Next Article
African Leaders’ Offshore Secrets Assets Listed on the Pandora Papers (News Central TV)

African Leaders’ Offshore Secrets Listed on the Pandora Papers

Related Posts

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.