Verod Capital Growth Fund III

Equity : July 2019

Verod Capital Growth Fund III is a private equity fund seeking to invest in attractive growth opportunities in English-speaking West Africa.

Amount

€ 8,733,600.00

Type of investment

Equity

Development impacts

  • Local economic growth
  • Private sector consolidation/innovation
  • Promotion of ESG best practices

Beneficiary locations

Sub-Saharan Africa: Ghana, Nigeria

Investment field

Investment Companies & Funds

Activity

SME fund

Organisation

Verod Capital Growth Fund III

Domicile

Nigeria

The fund will primarily invest in Nigeria (min. 50%) and Ghana (max. 30%), with an opportunistic focus on Gambia, Sierra Leone and Liberia (max. 10%).

The Fund will invest in equity and/or equity linked instruments, securing a controlling equity stake or a significant minority interest. It will focus its efforts on SMEs active in high-growth sectors including consumer goods and services, light industrials, agribusiness, financial services, business services and education.

Development impacts

  • Local economic growth

    The fund will provide long-term growth capital to SMEs active in anglophone West Africa (especially Nigeria and Ghana). The local financial institutions / PE investments do not sufficiently provide flexible patient financing to SMEs, having historically focused on larger transactions.

  • Private sector consolidation/innovation

    Verod provides comprehensive cross-functional support to portfolio companies, proactively adding value to them by identifying specific business needs and leveraging their capabilities and network.

  • Promotion of ESG best practices

    Verod has a meticulous approach to ESG: it is committed to incorporating ESG issues into investment analysis and decision-making and ensuring that its investee companies incorporate and disclose ESG matters.

Made possible through this investment

Thanks to the direct funding from BIO, the following second-line investments have been made possible.

DTRT Apparel

Ghana

DTRT provides extremely cost competitive services via a unique global supply chain platform spanning three continents. Its mission is to become a leading sports and sports-lifestyle apparel development and manufacturing company, while instituting and promoting a higher sustainability standard-"DTRT" (do the right thing) - that sets an example for how to respectfully treat workers and support communities in an environmentally conscious manner.

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