Saturday, January 18, 2020

Genius Ventures launches $10m MENA tech fund

Genius Ventures has launched a $10million venture fund to invest in early-stage technology companies across the Middle East and North Africa (MENA) region.

ICEA et al. launch SME fund

Kenya-based Insurance Company of East Africa (ICEA) has partnered with the Norwegian Investment Fund for Developing Countries (Norfund) and Imara Securities to launch a $100 million private equity fund.

HBD sells Fundamo to Visa

Early-stage investor HBD Venture Capital has sold its stake in South-Africa-based mobile payment company Fundamo, in a $110million trade deal to Visa.

ACA gets $7m from EDC

African Capital Alliance (ACA) has received a $7m commitment for its Capital Alliance Private Equity III from the Export Development Canada (EDC).

Sawari debuts venture fund

Egyptian venture capital investor Sawari Ventures has launched its first venture fund, Sawari Ventures I. The size of the fund has not been disclosed.

Fanisi bolsters Kenya’s Elris

East African venture investor Fanisi Capital has reportedly invested Sh124 million in Kenyan telecommunications services company, Elris Communications Services

Nokia Growth backs Virtual City

Nokia Growth Partners has commited $1 million seed capital to Kenya-based mobile distributor solution provider Virtual City.

4Di Capital backs gaming company BetTech

South Africa-based gaming software developer BetTech Gaming has won a multi million rand investment from 4Di Capital. No financial details have been disclosed.