Kibo Fund III

Kibo Fund III is a private equity growth and expansion fund managed by Kibo Capital Partners, a firm established in 2007 and based in Ebene, Mauritius. The fund focuses on early-stage investments in Eastern and Southern Africa, as well as the islands of the Indian Ocean. Kibo Fund III targets sectors such as healthcare, financial services, educational and training services, manufacturing, agricultural technology, and financial technology. It emphasizes investments that align with environmental, social, and governance (ESG) criteria, particularly in areas related to education, agriculture, financial services, and health, aiming to generate both financial returns and positive social impact.

Rasmus Bentzen

Associate

Thierry Hugnin

Co-Founder and Managing Partner

Wilfrid Korsaga

Partner

Nitish Nowjee

Principal

10 past transactions

Airdog

Series A in 2016
Airdog SIA. designs and manufactures airborne drones. The company offers AirDog, a foldable quadcopter that tracks position and follows the user with the help of AirLeash, a wearable tracking device. It offers products to action sports enthusiasts, professionals, and filmmakers who use GoPro cameras. Airdog SIA. was founded in 2012 and is based in Riga, Latvia. As of May 15, 2020, Airdog SIA. operates as a subsidiary of Alarm.com Holdings, Inc.

General Cargo Services Ltd

Acquisition in 2016
General Cargo Group (GCG) is a provider of logistics and transport solutions in the Kenyan market.

CIEL Healthcare

Private Equity Round in 2016
Ciel Healthcare Limited (‘CHL’) invests in and manages secondary and tertiary healthcare assets across Sub-Saharan Africa (SSA). CHL’s objective is to build a strong healthcare regional platform through the implementation of a ‘Buy and Build’ strategy. In line with this strategy, CHL and its investment partners have acquired majority stakes in Fortis Clinique Darne (Mauritius), International Medical Group (Uganda) and Hygeia Nigeria Limited (Nigeria).

Presdo

Seed Round in 2015
Presdo, Inc. specializes in mobile event applications that enhance networking and engagement among event participants. Founded in 2009 and based in Mountain View, California, the company offers Presdo Match, a platform designed to facilitate connections at conferences and trade shows. Its applications allow users to manage event agendas, access a social directory featuring LinkedIn profiles, and schedule one-on-one meetings. Additionally, the platform includes features like interactive maps, activity planners, real-time analytics, and marketing tools to support event sponsors and exhibitors. By providing these functionalities, Presdo aims to simplify the networking experience and foster meaningful interactions among attendees.

MFinance

Private Equity Round in 2013
MFinance is a financial services company in Zambia operating in the micro-finance segment of the market. It is licensed as a deposit taking institution by the Bank of Zambia ranking amongst the market leaders; it is part of the MFS Group, one of the leading diversified financial services groups in Zambia, listed on the Lusaka Stock Exchange. MFinance has two business units notably providing credit to salaried employees of public and private sector enterprises, through the salary-deduction mechanism, and to micro, small and medium sized enterprises (‘MSMEs’). In both segments of the market, the credit is for relatively modest amounts and for relatively short periods thereby reducing the risk of non-payment.

International Medical Group

Private Equity Round in 2012
International Medical Group Limited, established in 1995 and based in Kampala, Uganda, operates in the healthcare sector, offering a range of services including medical insurance, diagnostic services, and pharmaceutical distribution. The company provides medical insurance to individuals, families, and businesses, and runs diagnostic centers that focus on wellness checks. Additionally, it supplies various pharmaceutical products, such as controlled drugs and medical consumables. The group encompasses several entities, including International Hospital Kampala, International Medical Centres, and International Health Sciences University, among others. International Medical Group Limited emphasizes applied research, education, and community-based services as part of its healthcare offerings.

Electro-maxx U

Private Equity Round in 2011
Electro-Maxx (U) Ltd. is an independent power producer in Uganda. The company engages in the production and supply of electricity in East Africa. Electro-Maxx (U) Ltd. was founded in 2005 and is based in Kampala, Uganda.

Intendance Holding

Acquisition in 2010
Intendance Holding, through its subsidiaries provides insurance products and services, pensions, actuarial and investment businesses.

Orange Madagascar

Acquisition in 2010
Orange Madagascar, based in Antananarivo, is a prominent provider of wireless telecommunications services in Madagascar. Founded in 1998 and formerly known as Societe Malgache de Mobiles, the company adopted its current name in 2003. As a subsidiary of Orange S.A., Orange Madagascar has established itself as the market leader in mobile telecommunications, boasting over 2 million subscribers and holding a 60% share of the market from 2005 to 2010. The company offers a range of services, including cellular and internet connectivity for both individual and corporate customers, utilizing modern 2.5G, 3G, and 4G networks. Additionally, Orange Madagascar has developed an undersea cable to enhance global connectivity, ensuring reliable communication for its users.

I&M Bank

Private Equity Round in 2010
I&M Bank (T) Ltd. provides banking services to individuals and commercial customers in Tanzania. I&M Bank (T) Ltd. was formerly known as CF Union Bank Limited and changed its name to I&M Bank (T) Ltd. in September 2010. The company was founded in 1974 and is based in Dar es Salaam, Tanzania. It has branches in Tanzania. I&M Bank (T) Ltd. operates as a subsidiary of I&M Bank Limited.