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.

View more of our investments in this region

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Fairtrade Access Fund

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Fairtrade Access Fund

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  Bolivia, Brazil, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Paraguay, Peru, Burkina Faso, Côte d'Ivoire, Ghana, Kenya, Tanzania, Uganda

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  Subsidy

Aquila Leasing

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Aquila Leasing

  4,000,000.00

  Nigeria

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Aquila Leasing

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  3,828,000.00

  Nigeria

  09/02/2010

  Debt

AfricInvest Financial Inclusion Vehicle

Investment Companies & Funds

AfricInvest Financial Inclusion Vehicle

  10,000,000.00

  Morocco, Côte d'Ivoire, Democratic Republic of Congo, Ghana, Kenya, Nigeria, Rwanda, Tanzania, Zambia

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Fairtrade Access Fund

Investment Companies & Funds

Fairtrade Access Fund

  3,000,000.00

  Bolivia, Brazil, Colombia, Ecuador, Guatemala, Honduras, Nicaragua, Paraguay, Peru, Burkina Faso, Côte d'Ivoire, Ghana, Kenya, Tanzania, Uganda

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Fidelity Bank Ltd.

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Fidelity Bank Ltd.

  25,075.00

  Ghana

  03/04/2019

  Subsidy

Fidelity Bank Ltd.

Financial Institutions

Fidelity Bank Ltd.

  14,433,000.00

  Ghana

  20/12/2016

  Debt

Africa Renewable Energy Fund

Investment Companies & Funds

Africa Renewable Energy Fund

  8,896,000.00

  Ghana, Kenya, Senegal, Uganda, Zambia

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  Equity

Beyond the Grid Solar Fund

Investment Companies & Funds

Beyond the Grid Solar Fund

  4,175,007.50

  Burkina Faso, Côte d'Ivoire, Ghana, Kenya, Nigeria, Rwanda, Tanzania, Uganda

  26/10/2017

  Debt

Adenia Capital IV LP

Investment Companies & Funds

Adenia Capital IV LP

  9,000,000.00

  Côte d'Ivoire, Ghana, Madagascar

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TLcom TIDE Africa

Investment Companies & Funds

TIDE Africa

  4,367,820.00

  Kenya, Nigeria

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  Equity

AccessBank Nigeria

Financial Institutions

AccessBank Nigeria

  15,024,304.02

  Nigeria

  30/01/2019

  Debt

AccessBank Nigeria

Financial Institutions

AccessBank Nigeria

  2,232,000.00

  Nigeria

  09/03/2006

  Debt

Adenia Capital III

Investment Companies & Funds

Adenia Capital III

  5,000,000.00

  Côte d'Ivoire, Ghana, Madagascar

  28/02/2012

  Equity

Adenia Capital III

Investment Companies & Funds

Adenia Capital III

  100,000.00

  Côte d'Ivoire, Ghana, Madagascar

  19/05/2016

  Subsidy

Adenia Capital III

Investment Companies & Funds

Adenia Capital III

  150,000.00

  Côte d'Ivoire, Ghana, Madagascar

  28/09/2012

  Subsidy

Niche Cocoa Industry Ltd

Enterprises

Niche Cocoa

  449,000.00

  Ghana

  29/12/2010

  Debt

Niche Cocoa Industry Ltd

Enterprises

Niche Cocoa

  4,300,000.00

  Ghana

  02/06/2015

  Debt

Niche Cocoa Industry Ltd

Enterprises

Niche Cocoa

  41,603.00

  Ghana

  16/03/2016

  Subsidy

Babban Gona Farmers Services

Enterprises

Babban Gona Farmers Services

  1,837,000.00

  Nigeria

  30/01/2019

  Debt