Synergy Capital’s second fund in line for IFC commitment

West-Africa focused private equity investor Synergy Capital is in line for a capital commitment for its second fund from the IFC. The development finance institution is mulling a $20 million commitment to the generalist fund, which is targeting $250 million for opportunities in Nigeria, Ghana, Liberia and Sierra Leone.

Synergy Capital’s first fund held its final close in September 2015, exceeding its hard cap of $100 million. The Lagos-headquartered has been making investments at an aggressive pace for its maiden fund, which now has a portfolio of 10 companies across 9 sectors. The fund manager typically looks to invest growth capital in the region’s mid-market businesses which have promising prospects and expansion opportunities both domestically and in other countries in West Africa.

According to the Summary of Investment Information published on IFC’s website, the potential commitment is due to be reviewed for approval by the institution’s board on December 15th.

The information on this page may have been provided by a contributor to ChinaGoAbroad, and ChinaGoAbroad makes no guarantees about the accuracy of any content. All content shall be used for informational purposes only. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting such content (including texts, pictures, photos and diagrams) to ChinaGoAbroad for publication. ChinaGoAbroad disclaims all liability arising from the publication of any content/information (such as texts, pictures, photos and diagrams that infringe on any copyright) received from contributors. Links may direct to third party sites out of the control of ChinaGoAbroad, and such links shall not be considered an endorsement by ChinaGoAbroad of any information contained on such third party sites. Please refer to our Disclaimer for more details.