West-Africa private equity firm Verod Capital Management has reached a $200m hard cap to close its third growth fund.
Verod Capital Growth Fund III will follow the same investment strategy of its predecessor vehicle, by targeting mid-market companies in anglophone West Africa.
The buyout house raised $115m for the final close of Verod Capital Growth Fund II in 2016, exceeding that vehicle’s $100m target.
Verod typically looks to acquire businesses in the light manufacturing, consumer goods & services, business services, agriculture, education, healthcare and financial services sectors.
Verod Capital co-founder and managing partner Danladi Verheijen said, “With the current challenges facing the African PE fundraising market, we are very grateful for the confidence that our extremely high caliber set of investors have in our team and differentiated strategy. We look forward to deepening the successful long-term partnership we have with them.”
Asante Capital acted as global fundraising adviser for the Fund III raise.
Copyright © 2019 AltAssets