Satya Capital Limited, an independent investment firm focused on Africa, and TPG Growth, a US based equity firm have announced they are looking to identify and invest in African companies and entrepreneurs open to investment partners that can help them scale within and beyond the continent.
Reuters Africa reports that the announcement was made by the Satya’s Sudanese founding chairman, Mo Ibrahim.
TPG Growth will invest up to $1 billion in African companies while Satya Capital will put forward $300 million to $400 million.
The investment partnership will look into investment opportunities in healthcare, TMT ( Technology media and Telecommunication), consumer and financial services.
“I am very excited that we have found such a great partner in TPG. The dynamic combination of talent and experience of TPG and Satya has the potential to change the scope of investment across the continent,” says Mo Ibrahim. “The African economy is just starting to realise its potential, and there are businesses and entrepreneurs across the continent that will thrive with the right operational support and access to global markets. I believe this partnership will give African entrepreneurs a very powerful platform,” he adds.
Jide Olanrewaju, a former VP at Morgan Stanley, Samir Abhyankar, a VP at Citi Venture will be joining TPG Growth’s Frederick Antwi to form the core of this African investment team.
The middle market and growth equity investment platform, TPG Growth has over $7 billion in assets under management and committed capital. In April 2015, it reached over $3 billion in aggregate capital commitments.
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