FEATURED: Virunga Africa Fund I: Leading the charge in pan-African private equity investments

In the heart of Rwanda, a beacon of pan-African investments is rising. Admaius Capital Partners Limited, an independent private equity firm, is positioning itself as the vanguard for high-impact sector investments across the African continent through its inaugural fund, The Virunga Africa Fund I. Virunga Africa Fund I: More than Just an investment fund With its headquarters nestled in Kigali, The Virunga Africa Fund I is a vision brought to life by a formidable team with over 140 years of combined private equity experience. This pan-African ensemble has boots on the ground, not just in Rwanda, but across Africa including Kenya, Tunisia, Egypt, South Africa, and an international office in the United Kingdom. Virunga Africa Fund I encapsulates the firm's ambitious vision for Africa. With an emphasis on pivotal impact-driven sectors such as financial services/fintech, FMCG, healthcare, and education, the fund is targeting areas set to drive economic and social progress in the coming decades. But what truly sets Virunga Africa Fund I apart is its ground-breaking registration through the Kigali International Financial Centre (KIFC), making it the very first partnership to be registered in Rwanda under the new Partnership Law. The fund’s ethos revolves around guiding businesses from within. Armed with extensive in-house expertise, the Admaius Virunga Africa Fund I team specialises in deploying in-country and within companies, ensuring that businesses are not just handed capital, but are also handed a roadmap for growth through backing the right management teams and partners. Having secured the fund’s first close of US$250 million in July 2021, backed primarily by institutional investors, the fund's momentum shows no signs of slowing down. With aggressive fundraising efforts underway, the firm is on track to conclude its fundraising initiatives by year-end. An all-African team with a local core Led by its managing partner, Marlon Chigwende, the Virunga Africa Fund I is managed by a highly experienced team with an extensive track record in backing leading African businesses and a demonstrated ability to exit and deliver returns. Their Kigali team comprises eight industry stalwarts, with five investment professionals, of whom four are Rwandans attesting to the firm’s efforts in contributing to developing local investment talent. Across the board, the firm fields an impressive line-up of 17 all-African investment professionals, each dedicated to actualising the firm's pan-African vision. A glimpse at portfolio investments The Virunga Africa Fund I takes pride in its strategic investments. Among these is MFS Africa, the continent’s leading digital payments network, connecting over 410 million mobile money wallets across 40+ African countries. The key investment thesis is financial inclusion, tapping into the millions of Africans who previously were not formally in the financial system. Mobile wallets penetration and usage is set to grow rapidly over the coming years, and MFS is a leader in facilitating this transformation across the continent. The Virunga Africa Fund I led a US$100 million Series C extension investment round in MFS Africa to facilitate the company to acquire two bolt-on acquisitions as well as finance its organic growth. Furthermore, Virunga Africa Fund I made an investment in Cerealis, Tunisia’s eminent producer of salted snacks and baked goods. Through this investment, the Fund led the de-listing of the business on the Tunisia Stock Exchange Market and facilitated a bolt-on acquisition with a carbonated soft drinks business, thus creating an FMCG platform called Power Brands. Commitment to Rwanda and beyond The Admaius team views Rwanda as one of the fastest-growing and most exciting investment destinations on the continent. Historical growth in Rwanda has been high, and sustained, for many years and the team sees exciting investment opportunities in the country, not just in Private Equity, but across the spectrum. As a testament to their commitment to be a catalyst of change and make Rwanda a finance hub, Admaius anticipates announcing a significant deal within the country in the upcoming quarter. Their commitment and dedication remain unwavering, with a resolute focus on investing in Rwandan businesses and striking transformative deals in the nation.

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FEATURED: Virunga Africa Fund I: Leading the charge in pan-African private equity investments