PE At A Glance
Founded in 2008 as an investment boutique operating out of West Africa, Verod Capital has evolved into an investment management firm with a rich, long-standing entrepreneurial culture.
In its infancy, Verod Capital raised capital on a deal-by-deal basis. In 2014, in response to the growing opportunities in West Africa and conversely, the increased appetite of foreign institutional investors looking to expand into new markets, Verod Capital transitioned into one of the truly indigenous Private Equity firms in West Africa. Following a successful capital raising drive in a particularly challenging macroclimate in Nigeria and West Africa as a whole, the firm exceeded its original target fund size, and Verod Capital Growth Fund II launched as the largest first-time fund in Nigeria’s history. In 2019, the over-subscribed Verod Capital Growth Fund III closed at its US$200m hard cap, exceeding the initial target, as well as, the size of its predecessor fund (Verod Capital Growth Fund II).
As part of its strategic plan to evolve into a full-suite investment manager, in 2021, Verod Capital entered a joint venture with Kepple Africa (a pan-African venture capital firm) called Verod Kepple Africa Ventures (“VKAV”) creating a pan-African venture capital fund which will invest in early to growth stage, technology-driven, B2B start-ups in the FinTech, Logistics, HealthTech, EdTech and software spaces, inter alia, solving the most pressing problems across the continent, predominantly in West and East Africa, thereby creating a diversified portfolio.
Verod Capital is backed by a rich blend of mainly foreign and institutional investors including pension funds, sovereign wealth funds, insurance companies, asset management firms, fund of funds, family offices, foundations, sovereign wealth funds and development finance institutions, with extensive experience supporting Fund Managers across emerging markets.
Overview
Niyya Farms
Founded in 2008, Verod Capital is a leading African investment management firm. Through its private equity funds, Verod Capital focuses on high-growth businesses, led by strong, results-driven management teams, in Anglophone West Africa, particularly Nigeria and Ghana. And through its venture capital fund (Verod-Kepple Africa Ventures), focuses on early to growth stage tech-enabled start-ups in Nigeria and the rest of Africa.
Verod Capital’s private equity arm manages over US$360 million in assets and has invested in over 20 middle-market high-growth companies across 3 funds. Verod Capital’s private equity funds invest in a range of industries including healthcare, education, agribusiness, renewable energy, consumer products and services, financial and business services with investments ranging from US$10 million to US$25 million. While the venture capital fund invests between US$250,000 to US$7.5 million in tech-enabled start-ups solving the most pressing problems on the continent, in core sectors including FinTech, Logistics, HealthTech, EdTech and software, thereby creating a diversified portfolio across the continent.
Our competitive edge arises from our unique approach of sourcing opportunities through proprietary research and a deep local network as well as offering hands-on support to partner (portfolio) companies to ensure sustainable and responsible value creation.