Profit with Purpose
building positive economic impact and long-term stakeholder value
Who We Are
We are an independent mid-market investment firm with broad sector interests and geographic scope across North Africa and neighboring markets. We partner with visionary entrepreneurs and management teams to build sustainable growth businesses solving needs in large addressable markets, by identifying themes we believe in, putting our resources against that, and working with great people to achieve our outcomes. We are focused on job creation, opening the consumption choices of low to middle income consumers to more inclusive growth and higher quality products and services.
We invest with the belief that we can add value to our portfolio companies helping to accelerate their growth by identifying untapped potential, enhancing performance and supporting on digital transformation. The pandemic has hastened technological adoption in nearly every industry resulting in an acceleration in the need for digital transformation across sectors and leading to increased demand for products and services that help companies ensure security, manage risk, and maintain online connectivity.
We have a particular experience in Consumer, Education, Healthcare and the Digital Economy sectors with a leading track record in market consolidation. We do not rely on debt leverage to deliver our returns.
We are a team that is entrepreneurial, passionate about our work, and is working for the long-term. Our ability to forge strong relationships with entrepreneurs and founders of companies has proved an invaluable resource in terms of broadening our network and deepening our expertise within our markets and sectors. We have worked together as a team since 2011 across multiple funds with a unique track record in our sectors and a strong focus on sustainable investing. As long-term investors we are focused on building high-quality businesses that last, working hand-in-hand with our entrepreneurs to build growth-oriented companies which impact the communities we live in and supported by a "one-degree-of-separation" network to include trust assessments to support our decision making.
We currently manage two institutional private equity funds focused on North Africa: Kantara (2008 vintage) and ANAF II (2015 vintage). We have over 35 LPs, primarily regional and global institutional investors including a number of Development Finance Institutions. The invested capital in our current portfolio companies is in excess of $400m (including co-investors). We also manage a number of single asset fund vehicles invested in the digital economy and education.
Our current fund portfolio spans North Africa with subsidiaries in Francophone West Africa. We invest growth equity in our core markets leveraging an expanding consumer base supported by strong macroeconomic growth drivers leading to city driven opportunities across the major economic hubs of North Africa. We are one of the largest private equity investors in Egypt, Tunisia and Morocco, having deployed $390m, $215m, and $150m in each country respectively over the last 10 years. We invest in the rest of Sub-Saharan Africa through our portfolio companies, by creating operations and manufacturing subsidiaries and by setting up distribution hubs across countries in Sub-Saharan Africa allowing us to leverage the scale of our portfolio companies and management teams to access new expansion markets.
Through our current private equity funds we have helped build platform companies across our core sectors through buy and build and greenfield market expansion. Most of our platform companies were created by us, are a product of roll-up acquisitions and integration efforts and did not exist prior to our investment. Half of our platform companies were subsequently listed on local or international stock exchanges.
While we have a particular experience and track record through the funds we currently manage investing and deploying over $750m in North Africa, our investment track record is augmented by our experience in the Middle East and Turkey in our prior roles in our core sectors of consumer, healthcare and the digital economy with over $900m deployed, all of which are now exited.