Private Equity Firms in Nigeria

Alitheia Capital is a pioneering impact-investing private equity and financial advisory firm headquartered in Lagos, Nigeria. The firm specializes in identifying and investing in high-potential businesses across Africa, operating with a philosophy of "true profit with a purpose." This approach involves deploying private capital into Small and Medium-sized Enterprises (SMEs) that not only generate financial returns but also address critical business, social, or environmental needs within their communities. Alitheia Capital manages over $250 million in assets across various funds, demonstrating a strong commitment to sustainable and inclusive growth across the continent.Established in 2007 by Tokunboh Ishmael and Jumoke Akinwunmi, Alitheia Capital has been at the forefront of Africa's venture capital and private equity landscape for over two decades. Their inaugural fund launched in 2009, and since then, they have played a pivotal role in nurturing Africa's tech ecosystem, often as the first institutional investor in high-impact technology companies. The firm is particularly known for its flagship gender lens fund, Alitheia IDF, which boasts a portfolio exceeding USD 100 million and is recognized as the continent's premier and largest gender lens fund.Alitheia Capital's diverse portfolio includes investments in companies such as Lupiya, a Zambian Fintech firm; Hinckley Recycling, Nigeria's first registered e-waste recycler; OmniRetail, a B2B media and information services company; and Complete Farmer, an agribusiness venture. Other notable investments include Paga and MAX.Ng in the fintech and mobility sectors, Reelfruit and Psaltry International in agro-processing, Wemy in manufacturing, and SparkMeter in clean energy solutions. The firm also made an exit from Baobab Nigeria, a financial institution providing inclusive banking services.The team at Alitheia Capital comprises seasoned professionals with a diverse blend of investment prowess and occupational expertise. Key team members include Tokunboh Ishmael as Managing Partner, Yewande Adewusi as Chief Operating Officer, and several Investment Principals such as Oti Ilentamhen, Moyosore Babalola, and Oyindoubra Eghaghe. They provide both financial backing and strategic guidance to their investee companies, fostering long-term partnerships and implementing robust risk management practices. The firm's commitment to gender inclusion is evident in its proactive investments in women-led, women-focused, and women-serving businesses, aiming to drive social transformation and entrepreneurial innovation.

Launch Africa Ventures is a prominent Pan-African venture capital firm dedicated to bridging the significant funding gap for Seed and pre-Series A technology startups across Africa. The firm employs a high-touch, high-scale approach to identify and support promising ventures across diverse sectors, including fintech, artificial intelligence, logistics, healthcare, e-commerce, edtech, climate tech, and agritech. Their investment strategy focuses on backing startups that address critical challenges and demonstrate strong market opportunities within the African continent, aiming to foster innovation and transform the region's economic landscape.The firm was co-founded in 2020 by Zachariah George and Janade Du Plessis, who have been pioneers in early-stage venture capital in Africa since 2014. George's background in investment banking and angel investing, combined with Du Plessis's expertise in entrepreneurship, research, and banking, laid the foundation for Launch Africa Ventures. Since its inception, the firm has rapidly grown, investing in over 150 startups across 22 African countries and establishing itself as one of the most active seed-stage VC funds on the continent.Launch Africa Ventures has built a diverse portfolio, with notable investments in companies such as Kuda, a neobank offering digital banking services in Nigeria; MarketForce, a B2B e-commerce retail platform in Kenya; and GOMYCODE, an edtech startup providing digital skills training in Tunisia. Other portfolio companies span various sectors, including financial software (Liquify, VaulFi), media (Baskett, Lounges.tv), and business/productivity software (Andela). The firm has also achieved successful exits with companies like Orcas, Kashat, and Baia, demonstrating its ability to generate returns for its investors.The Launch Africa Ventures team comprises experienced professionals with a deep understanding of the African market. Co-founders Zachariah George and Janade Du Plessis lead a diverse team that includes investment managers, portfolio associates, and a robust investment committee. This collective expertise enables the firm to provide not only capital but also strategic guidance and access to extensive global advisory networks and corporate distribution channels across Africa, thereby unlocking significant value for its portfolio companies.

South Suez Capital is a leading independent private equity fund-of-funds manager exclusively focused on the African continent. The firm provides institutional investors, endowments, and high net-worth individuals with a single point of access to attractive primary, secondary, and direct private market investments across Africa. With over a century of collective professional experience, South Suez offers a diversified investment platform designed to navigate the unique opportunities and challenges within African markets.Established in Mauritius in 2009, South Suez Capital was founded with the vision of being Africa's first independent dedicated private equity fund of funds manager. The firm began investing in African private markets in 2010, subsequently raising South Suez Africa Fund I in 2010 and South Suez Africa Fund II in 2014, along with managed accounts. This foundational period allowed South Suez to build extensive expertise and cultivate long-term relationships with key partners across the continent.South Suez constructs diversified portfolios through its allocations to primary funds, secondary transactions, and co-investments. The firm's investment strategy emphasizes market-leading businesses in core economic sectors across over 40 countries in Africa. They are particularly committed to supporting growth investments and greenfield projects, with a significant portion of their portfolio in low and low-middle income countries, aiming to drive development and create employment opportunities. South Suez also highlights its focus on sectors like financial services, recognizing its critical role in economic inclusion in Africa.The team at South Suez Capital possesses deep expertise in African private equity, leveraging an established local network of industry consultants, General Partners (GPs), investors, and advisors. This network provides the firm with unique deal flow and proprietary performance data, which underpins their risk management system. South Suez is also a proponent of responsible investing, adhering to ESG and SRI principles, and is a member of the UN Principles for Responsible Investing (UNPRI), demonstrating a commitment to sustainable and impactful investments.

Uhuru Investment Partners is a private equity firm based in West Africa, dedicated to unlocking the potential of middle-market companies across the region. The firm focuses on driving sustainable growth and creating long-term value by partnering with passionate entrepreneurs. They aim to become the investment partner of choice in Africa for both domestic and global investors, generating competitive returns alongside a positive and enduring impact on local communities.Founded in 2016, Uhuru Investment Partners draws its inspiration from Uhuru Peak, Africa's highest point, symbolizing their commitment to excellence and ambitious goals. The firm's approach emphasizes deep local knowledge, robust processes, and a commitment to excellence throughout the investment lifecycle. They work collaboratively with investors, entrepreneurs, employees, and communities to achieve success that matters, extending beyond financial returns to include significant social and environmental impact.Uhuru Investment Partners primarily invests in high-growth, middle-market companies within West Africa, with a particular focus on Nigeria, Ghana, and Côte d'Ivoire. Their portfolio includes companies such as Royal Foam Products Nigeria, a leading manufacturer of mattresses and bedding products; ST Digital, a regional IT services group providing cloud, datacenter, and cybersecurity solutions; Impact Life, a Ghanaian life insurance provider; and Everyday, one of Nigeria's largest supermarket chains. They also have investments in La Tulipe Food, an Ivorian food group, and Cresta Paints, a manufacturer of automotive refinish paints in West Africa. The firm typically invests as either minority or control investors, utilizing various equity and mezzanine instruments.The team at Uhuru Investment Partners comprises local investors with a proven business and investment track record across West Africa. They provide hands-on support and strategic advice to their portfolio companies, acting as advisors to management teams and actively engaging in governance and value creation. Their expertise spans areas such as strategy, marketing, operations, and finance, complemented by an ESG toolkit to enhance the sustainability of their investments. Notable team members include Amaka Paul-Okafor, Managing Director, Private Equity; Francis Ojei, Finance & Operations Manager; Babatunde Makanjuola, Associate; Chuka Maduabum, Deal Execution and Portfolio Management; Dominique Lecossois, Operating Partner; Folakemi Oduwole, Associate, Investments; and George Sognon, Associate, Investments.

Founded in 2008, Verod Capital Management is a prominent private equity firm dedicated to investing in high-growth, mid-market companies across West Africa. Leveraging deep local expertise and networks in Nigeria, Ghana, Côte d'Ivoire, and Kenya, Verod focuses on fostering the growth of promising businesses by providing equity and equity-linked capital, typically ranging from $15 million to $30 million. The firm also manages a venture capital fund, Verod-Kepple Africa Ventures, which invests between $250,000 and $7.5 million in tech startups across sectors such as FinTech, HealthTech, EdTech, Logistics, and Software.Verod is committed to aligning its investment strategy with global sustainability standards, being the first West African signatory to the UN Principles for Responsible Investment (PRI) and the first private equity fund worldwide to achieve 2X Certified ‘Best-in-Class’ status. The firm integrates Environmental, Social, and Governance (ESG) frameworks into its operations, focusing on gender equity, climate action, and quality job creation, thereby investing for profit while generating positive social impact across its portfolio.Supported by a diverse group of institutional investors, Verod has successfully executed multiple exits through strategic sales, financial acquisitions, and management buyouts. Its seasoned team comprises professionals with extensive experience in investing, banking, strategy, and operations across various industries. Verod’s vision is to provide stakeholders with expert guidance, access to capital, and opportunities to make lasting impacts in Africa’s economic landscape.