Africa Roundup: Partech Ventures launches $70M fund, TPG Growth acquires TRACE, Rensource raises $3.5M


Last month we characterized 2017 as a year Sub-Saharan Africa’s startup scene found a stride. 2018 looks to be a year of countless VC investments.

TPG acquires TRACE

January got a appropriation celebration started. U.S.-based private equity firm TPG Growth acquired a infancy interest (of an undisclosed value) in party company TRACE. TRACE is a tellurian multimedia hulk for African song and film calm with 200 million viewers and listeners in 160 countries, 30 mobile services, 21 compensate TV channels and 7 FM radio stations.

TPG Growth will “partner with TRACE’s co-founder and government to build a tellurian personality for Afro-urban song and entertainment,” pronounced a association release.

There’ll approaching be some-more Africa investments for TPG Growth in 2018. Last Oct a organisation raised  $2 billion for The Rise Fund, founded by TPG handling partner Bill McGlashan with Bono’s support.

Partech Ventures launches Africa account and office

Paris-based VC organisation Partech Ventures lifted $70 million for an Africa account and non-stop an bureau in Dakar, Senegal. The organisation — with some-more than 250 investments and 45 exits globally — pooled financial support from partners such as IFC, European Investment Bank and Averroes Finance III.

Partech handling partners Cyril Collon and Tidjane Deme (a Google Africa alum) will conduct a new fund. “The concentration will be tech startups that strap vast rising marketplace opportunities with their categorical activity in Africa,” Partech’s Tidjane Deme told TechCrunch. “We’ll demeanour for opportunities in financial inclusion, mobile and online consumer services, mobility, supply sequence services and digitization of a spontaneous economy.” Initial appropriation rounds will be Series A or B, with a probability of follow-on rounds to well-performing companies, according to Deme.

Partech skeleton to strike a belligerent interviewing startup possibilities soon. All of Africa is open, though Deme pronounced they’ll design to partisan a series of ventures in countries such as Nigeria, Ghana, Kenya, Tanzania, South Africa, Ivory Coast and Cameroon.

Rensource secures $3.5M to appetite Nigeria

Lagos-based renewable appetite startup Rensource raised $3.5 million in what it called “Pre-Series A overpass funding” from Amaya Capital Partners and Omidyar Network, among others.

“We’re a distributed appetite company. We take appetite directly to people, businesses and consumers, since we’re handling in a marketplace where a grid fundamentally doesn’t work,” pronounced Rensource owner Ademola Adesina. The association offers B2C and B2B solar and battery-based appetite packages (hardware and service) to people and businesses, essentially in Lagos. On a B2B, Rensource “enables any series of third parties to be their possess appetite company,” explained Adesina on a startup’s programs for tiny businesses to squeeze and afterwards sell Rensource services and apparatus in their communities.

Rensource will use a new collateral to enhance to regions in Nigeria outward of Lagos. Over a subsequent few years, Adesina hopes a association can constraint 5 percent (or 3 million) of what he estimates is a 60 million section market.

New York Times, Ringier Africa partnership

In other tech media moves, Ringier Africa will distribute New York Times content opposite Africa by a partnership with a U.S. news outlet.

The auxiliary of Swiss media organisation Ringier AG will offer name NYT coverage by three “Pulse with The New York Times” sites in Nigeria, Kenya and Ghana. The online stories will be giveaway to readers in Africa, but subscription fees or essay limits.

The partnership “is about bringing a calm that isn’t being review nonetheless in Africa by placement optimized for mobile and low broadband internet to a wider population,” Ringier Africa CEO Leonard Stiegeler told TechCrunch.

Roughly 100 million people now entrance Ringier Africa’s Pulse platform. As a continent’s internet, mobile and inscription invasion continue to increase, digital calm expenditure is approaching to enhance rapidly. “There’ll be hundreds of millions of new mobile screens in Africa…That’s because general publishers are interested,” pronounced Stiegeler.

Crypto update

Finally, an refurbish to TechCrunch reporting on Nigeria-based SureRemit’s skeleton to launch a crypto token directed during remittances. The company’s Jan ICO lifted $7 million in token purchases, that can now be used as remuneration by a network of merchants in Nigeria, Kenya and Rwanda.

More Africa-related stories @TechCrunch

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