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With more than $7 billion of assets under management TPG Growth and Mo Ibrahim’s Satya Capital have partnered in a move to identify and invest over $1 billion in companies in Africa.
TPG Growth has investments in various emerging markets such as Vietnam, Myanmar, India and Brazil while Dr. Ibrahim and Satya know Africa. The deal will see them invest between $1m to as much as $400m into healthcare, TMT, consumer and financial services firms on the continent.
In a statement Dr. Ibrahim said: “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.”
Satya Capital aims to invest between $300 million to $400 million in the deal and the rest will be footed by TPG Growth. The firm’s will also give the firms the same operational support and focus across the continent to fuel innovation and entrepreneurism on the continent.
The African investment team will be led by Jide Olanrewaju, Samir Abhyankar and Frederick Antwi.
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