Velocity in $56m plans

Velocity Capital Group has been in talks with financiers to raise capital for its Ethiopia-focused agribusiness, Velocity Dairy, to fund its $56milion (€45million)  plans to build a dairy processing plant.
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The financing will go into the building of  new infrastructure, procurement of factory machinery and  the purchase new equipment. Velocity intends to produce dairy products and fruit juices to be marketed primarily in the local market.
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The new plant will have a daily capacity of up to 70,000 liters. About €8 million of the financing is expected to come from the  International Finance Corporation (IFC).
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Velocity Dairy was set up by US-based Velocity Capital in 2010. The investor wholly owns the company through a holdco, Velocity Africa Holding BV. The company is headquartered in Driebergen-Rijsenburg , Netherlands.

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MBO Capital selects FrontInvest

MBO Capital has adopted FrontInvest, an electronic investment management platform developed by eFront.

FrontInvest is an automated risk management platform that enables managers to monitor fund, investor and portfolio operations.

MBO Capital has implemented the platform in the early stages its fundraising to demonstrate strong operational processes to investors.

“Managing our fund with eFront conveys to our investors and partners our commitment to transparency, effective communication, and the highest degree of trust,” said Jide Ogundare, chief executive officer at MBO Capital.

Based in Nigeria, MBO Capital is looking to raise $250 million to invest in business primarily operating in the energy, consumer, technology and financial services sectors.

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Private Equity Africa to host inaugural fundraising forum in London

Private Equity Africa, the industry publication for fund managers, investors and advisors will on November 28 host an inagural fundraising forum  in London.

Dubbed ‘Executing a Successful Fundraising Strategy’ will bring together: leading industry experts, investors and advisors from some of Europe and Africa’s top private equity firms, fund-of-fund managers and law firms to discuss the latest trends and best practice in: fundraising, fund marketing, due diligence and investor and media relations.

The forum is expected to take new mangers through fundraising strategy for successful investment in Africa.

Gail Mwamba, Editor of Private Equity Africa in a statement to TechMoran said: “We are delighted to be announcing our first ever conference which will provide fund managers with valuable insight into how to successfully raise an Africa fund. We are looking forward to bringing together some of the industry’s top experts to discuss the latest issues, trends and best practice.”

“Despite the opportunities that Africa offers as one of the great frontier markets, many fund managers find it difficult to raise funds for Africa, with over 200 managers looking to fundraise in excess of $5billion for Africa. The idea of the ‘Executing a Successful Fundraising Strategy’ forum was born out of the need to help first time managers map out a successful strategy.”

The conference will include a fundraising masterclass which will cover best practice in fund marketing regulations, compliance and reporting. The masterclass will be followed by a series of presentations and panel discussions led by industry specialists, analysis of LP allocation strategies and case studies from leading funds on how they have successfully raised money.

Speakers have been carefully been chosen either for their track records in establishing successful funds or for investing and advising on some of Africa’s largest funds.

Confirmed speakers include:

·         James Moore, Co-Head Private Funds, UBS

·         Marc Nahum, Director, Actis

·         Dushy Sivanithy, Principal, Pantheon Ventures

·         Laurent Demey, Managing Partner, Amethis

·         Geetha Tharmaratnam, Director, Abraaj Group

·         Alexander Wolf, Vice President, HarbourVest Partners

·         Thomas Meyer, Director, LDS Partners

·         Matthew Craig-Greene, Head of IR and Research, Pivot Partners

·         Eve Ellis, Partner, Charles Russell

·         Adrian Mayer, Partner, Charles Russell

·         John Rowland, Managing Partner,White Lake

·         Rajan Rosick, Client Services, Trident Fund Services

·         Nick Lambert, Partner, Bell Pottinger

- See more at: http://techmoran.com/private-equity-africa-to-host-inaugural-fundraising-forum-in-london/#sthash.bWGE4Vr1.dpuf

Private Equity Africa To Educate Managers On Fundraising

VENTURES AFRICA – Private Equity Africa (PEA), the industry publication for fund managers, investors and advisors, today announced its inaugural fundraising forum to educate struggling managers on fundraising.

The forum ‘Executing a Successful Fundraising Strategy’ which will be held in London next week will bring together leading industry experts, investors and advisors from some of Europe and Africa’s top private equity firms, fund-of-fund managers and law firms to discuss the latest trends and best practice in: fundraising, fund marketing, due diligence and investor and media relations.

Despite the opportunities that Africa offers as one of the great frontier markets, many fund managers “find it difficult to raise funds for Africa,” with over 200 managers looking to raise funds in excess of $5 billion for Africa.

“We are delighted to be announcing our first ever conference which will provide fund managers with valuable insight into how to successfully raise an Africa fund,” Gail Mwamba, Editor of Private Equity Africa said.

The conference will include a fundraising masterclass which will cover best practice in fund marketing regulations, compliance and reporting.

The masterclass will be followed by a series of presentations and panel discussions led by industry specialists, analysis of LP allocation strategies and case studies from leading funds on how they have successfully raised money.

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Africa brought in over $2B in closed private equity funds

Industry publication Private Equity Africa said Africa raised more than USD2 billion in closed private equity funds from January to September. The publication for fund managers and investors said this amount already exceeded full-year figures for 2012, according to Ventures Africa.

The publication said the latest figures are based on data provided by alternative assets intelligence firm Preqin. The said figures are exclusively supplied to Private Equity Africa, the report said.

This year's figures have been led by fund closures at the start of the year. Ethos closed USD800 million in funds, Private Equity Africa said. Vital Capital secured USD350 million. A debut fundraiser by Phatisa closed another USD243 million, said the report.

The said figures do not include interim closing from some of the largest funds in the industry. They only indicate final closures. Private Equity Africa research said Carlyle has already passed its original target and will reach USD700 million by the end of the year, the report stated.

The business publication's report shows that the figures do not include Development Partners International. The firm has raised over USD400 million in its first closing. Amethis also closed USD290 million during the year, Ventures Africa reported.

Gail Mwamba, the publication's Managing Editor, said: "Improved LP sentiment has also underpinned the launch of Abraaj's $800 million Africa-focused vehicle which is twice the size of its predecessor. Expectations are that 2014 will be an even more positive year, with expected final closes from groups such as Carlyle."

Private Equity Africa reports in excess of $2billion in 2013 fund closings The industry publication for fund managers, investors and advisors says Improved LP sentiment for Africa beginning to translate to solid commitments

Private Equity Africa reports in excess of $2billion in 2013 fund closings The industry publication for fund managers, investors and advisors says Improved LP sentiment for Africa beginning to translate to solid commitments

Private Equity Africa, the industry publication for fund managers, investors and advisors has today reported that Africa-focused fundraisers have brought in excess of £2 billion in reported closings for the period January – September 2013,  already exceeding 2012 full-year figures.

 The latest figures based on data from Preqin, the alternative assets industry’s leading source of data and intelligence, supplied exclusively to Private Equity Africa.

This year’s figures have been driven in part by strong closings reported by Ethos which announced its $800m fund closure at the beginning of 2013, Vital Capital which has brought in $350m for its maiden vehicle and Phatisa, which reported a $243 final close of its first fund.  A number of other smaller funds have also reached final close.

 The figures only cover final closures, and exclude interim closings from some of the industry’s largest funds, including Carlyle, which has already exceeded its original target, and will touch $700m by year-end, according to Private Equity Africa research.

 Figures also do not include Development Partners International, which has exceeded $400m in its first closing, and Amethis with a $290m first close during the year.

 Commenting on the figures, Adeola Dosunmu, Head of Research at Private Equity Africa, said: “This year’s fundraising figures bring great warmth to the continents fundraising environment and demonstrates that improved LP sentiment for Africa is slowly translating to solid commitments.

“Signs of this growing sentiment were shown earlier this year when the Emerging Private Equity Association (EMPEA) placed Sub-Saharan Africa in its top tier for emerging markets, displacing traditional BRIC markets.”

 Gail Mwamba, Managing Editor of Private Equity Africa, said; “Improved LP sentiment has also underpinned the launch of Abraaj’s $800 million Africa-focused vehicle which is twice the size of its predecessor.

“Expectations are that 2014 will be an even more positive year, with expected final closes from groups such as Carlyle.”

 The publication of the fundraising figures coincides with Private Equity Africa’s maiden fundraising forum. The first of its kind for the industry, the event aims help first time managers execute a successful fundraising strategy for Africa-focused funds.

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