VEROD CAPITAL GROWTH FUND III (EIB-20180028)

Regions
  • Africa
Where the impacts of the investment may be experienced.
Countries
  • Gambia
  • Ghana
  • Liberia
  • Nigeria
  • Sierra Leone
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Aug 28, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 14.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ EIB website

Updated in EWS Sep 25, 2018

Disclosed by Bank Feb 8, 2018


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Project Description

According to EIB website, the operation consists of an equity participation in a closed-end private equity fund targeting investments in Small and Medium-sized Enterprises (SMEs) active in Anglophone West Africa, i.e. Nigeria, Ghana, Liberia, Sierra Leone and Gambia. The Fund is to be managed by Verod Capital Management and will have a generalist investment approach (i.e. sector agnostic).

Investment Description
  • European Investment Bank (EIB)
Private Actors

Verod Capital Management Limited is a private equity firm specializing in providing equity and equity-linked capital in growth capital and buyout transactions. The firm prefers to invest in financial services, business services, education, healthcare, agri-business, consumer products, manufacturing, services, civil engineering, media and technology, real estate, and energy sectors.

Contact Information

Contact information not provided at the time of disclosure

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