Grace Ashiru
Verod-Kepple Africa Ventures (“VKAV”) has successfully concluded its inaugural fund, raising a total of $60 million.
SBI Holdings, Toyota Tsusho Corporation, Sumitomo Mitsui Trust Bank, Japan International Corporation Agency, and Japan ICT Fund are some of the key institutional investors in the fund.
Furthermore, the final close saw an increase in institutional investors from Japan, such as Taiyo Holdings and C2C Global Education Japan. Additionally, SCM Capital, previously known as Sterling Capital Markets Limited, from Nigeria, also became part of the investor group.
Verod-Kepple Africa Partners is a collaborative effort between Verod Capital Management, a West African private equity firm specializing in mid-sized business investments, and Kepple Africa Ventures. VKAV represents the inaugural fund resulting from this strategic alliance.
VKAV aims to tackle the growing challenge of limited capital for African companies as they move into the Series A and B stages. The focus is on supporting growth-stage companies and addressing the lack of funding from local investors.
The fund will focus on three main areas: supporting businesses that are building digital infrastructure across different industries, addressing inefficiencies that exist between businesses and consumers, and creating new market opportunities for individuals to thrive economically. This approach takes into consideration the changing dynamics of the African economy and population.
The VKAV team is comprised of proactive investors who are well-equipped to support their portfolio companies with fundraising, partnerships, governance, talent, and legal affairs.
Verod is committed to focusing on operational best practices and preparedness for additional financing and exiting from the start. Collaborating with Verod is crucial in achieving this goal.
In light of the complex macroeconomic conditions in Africa and the growing global expansion of businesses, this assistance is crucial for navigating these challenges.
A total of twelve businesses, such as Moove Africa, KOKO Networks, Ceriant, Chari, Shutlers, Nawy, Juliaya, NowPay, Chefaa, Cloudline, Zone, and mTek-Services, have successfully secured funding from the fund.
