Middle markets and growth equity platform TPG Growth has partnered with Mo Ibrahim’s Satya Capital, promising to identify and invest in Africa’s most scalable companies.
TPG Growth and Satya said they will look for companies and entrepreneurs that want investment partners capable of helping them grow both within Africa and on a global level.
The partners will focus on investments in a broad range of industries including healthcare, TMT, consumer and financial services.
“I am very excited that we have found such a great partner in TPG. The dynamic combination of talent and experience of TPG and Satya has the potential to change the scope of investment across the continent,” said Mo Ibrahim, founding chairman of Satya Capital.
“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 said it believes now is the ideal time for investment in Africa, and that innovation and entrepreneurship will be the driving force in Africa’s economic growth.
“The new African narrative is driven by a transitioning landscape with increasingly stable political climates, improving infrastructure, growing economic power, adoption of innovative technology and urbanisation. These positive trends are fueling consumption across multiple new and emerging sectors, which are untapped and prime for investment and development,” said Tsega Gebreyes, managing partner of Satya.
“We look forward to working with TPG Growth to identify those business leaders doing exciting things in these sectors and innovating within them, and then partnering on a strategy – both local and global – to help them grow,” Gebreyes said.
“Ultimately it is innovation and entrepreneurism that will push Africa to a more prominent position within the global economy, and with this partnership, we look forward to helping drive that change.”
Having achieved successes in Asian and South American markets, TPG Growth said it believes Africa will prove to be the platform’s next big success.
“TPG was an early and successful investor in both Asia and Latin America and, working with Mo and Satya, we believe now is the time to recreate that same success in Africa. We look forward to identifying and supporting growing African businesses to meet the increasing demand from consumers on the continent and beyond,” said David Bonderman, co-founder of TPG.
“We are thrilled to partner with Mo Ibrahim and Satya in Africa. Mo is a visionary leader, entrepreneur, and social activist who, along with Satya, are the perfect partners for TPG Growth’s integrated global team as we look for entrepreneurs and companies where we can be a unique partner in driving growth,” said Bill McGlashan, founder and managing partner for TPG Growth.
“Whether in San Francisco, Myanmar, or Nairobi – the companies we invest in all get the same operational support and focus. We don’t believe in local funds, but rather the marriage of the best in local and global, so it is very exciting for us to combine the capabilities of Mo Ibrahim and Satya with our global platform, and to be part of Mo’s vision for Africa.”