Verod Capital Management
Verod Capital Management, established in 2008, is a Nigeria-based private equity firm with an additional office in Ghana. The company specializes in mid-market investments, focusing on growth capital and buyout transactions. Verod targets a diverse range of sectors, including financial services, business services, education, healthcare, agri-business, consumer goods, light manufacturing, and technology. It primarily invests in West African countries such as Nigeria, Ghana, Liberia, and Sierra Leone, with a typical investment size ranging from $3 million to $20 million. Verod seeks majority or significant minority equity stakes in portfolio companies, aiming to hold these assets for four to seven years. The firm is known for its active, hands-on management approach, working closely with management teams to enhance governance, business practices, and profitability, ultimately positioning companies for successful exits.
Top Stages
20 past transactions
Moniepoint
Series C in 2024
Moniepoint is a fintech company offering comprehensive financial services for businesses. Its platform enables businesses to create accounts, accept online payments, manage expenses, access credit facilities, and more.
I-Fitness Centre
Acquisition in 2024
I-Fitness Centre is a prominent health and wellness company recognized as the leading and fastest-growing fitness chain. It operates a network of gyms that provide a variety of wellness services both in-person and through online platforms. The company offers an extensive range of fitness and nutrition programs, including aerobics, yoga, spinning, and core cardio, catering to diverse health needs. Additionally, I-Fitness Centre provides gym products to support individuals in achieving their health and fitness goals conveniently.
Pan African Towers
Private Equity Round in 2023
Pan African Towers Limited, is a telecommunications infrastructure and wireless service facilitator.
Ison Xperiences
Acquisition in 2023
Ison Xperiences is a leading provider of customer engagement and experience management services. With a significant presence across Africa and India, the company serves over 100 million customers for clients in telecom, public sector, retail, and aviation sectors. They employ approximately 6,000 people, offering outsourced voice and CRM process solutions to enhance customer satisfaction and drive revenue.
Medplus
Private Equity Round in 2022
Medplus is a health and beauty retailer and chain pharmacy. They provide pharmacy services that include healthy heart checks, medicine use review, blood pressure checks, pain management, blood sugar tests, weight loss management, prescription management, and expert counselling.
Moove
Series A in 2021
Moove is a fintech company specializing in mobility finance. It provides revenue-based vehicle financing to mobility entrepreneurs across Africa, democratizing vehicle ownership. Moove embeds alternative credit-scoring technology onto ride-hailing, logistics, and delivery platforms, using proprietary performance analytics to underwrite loans.
Metropolitan Life Insurance Nigeria
Acquisition in 2019
Metropolitan Life Insurance Nigeria is a life insurance provider in Nigeria that offers group life and credit life products to clients across the public and private sectors.
DTRT Apparel
Venture Round in 2019
DTRT Apparel Limited is a manufacturer of sports and sports-lifestyle apparel, specializing in a range of products including T-shirts, polo shirts, and athletic shorts for men, women, and youth. The company is headquartered in Accra, Ghana, with an additional office in Del Mar, California. DTRT Apparel focuses on providing cost-competitive products to major brands in the United States and the European Union, which allows these brands to access high-quality sports apparel at affordable prices. As manufacturing costs in China have risen significantly, DTRT Apparel positions itself as a viable alternative for buyers seeking reliable sourcing options in a changing market landscape.
Daystar Power
Series A in 2019
Daystar Power specializes in delivering solar power solutions and energy efficiency services to businesses across commercial, industrial, and agricultural sectors. Their offerings significantly reduce power costs, diesel consumption, and pollution.
Tangerine Life
Acquisition in 2019
Tangerine Life is a financial technology company dedicated to enhancing the financial security of its consumers. By focusing on innovation and creativity, Tangerine Life offers a variety of secure financial services designed to help individuals improve their financial well-being. The company aims to provide accessible solutions that empower consumers to take control of their finances and achieve their goals.
Kobo360
Seed Round in 2018
Kobo360 is a digital logistics platform that connects cargo owners, truck owners/drivers, and recipients. It uses data analytics and technology to streamline supply chains, reduce waste, and enable efficient delivery of goods across Africa.
Shaldag
Private Equity Round in 2016
Shaldag Limited is a Nigerian aquaculture company specializing in the production and distribution of fish and fish products. It operates a state-of-the-art facility comprising hatcheries, nurseries, and on-growing sections for catfish and tilapia farming. Upon completion, Shaldag's Epe farm will be Nigeria's largest producer of these species, supplying both domestic and international markets with sustainably sourced, high-quality fish products.
Union Trustees
Acquisition in 2015
Union Trustees offers fund management and nominee services to a diverse client base that includes state governments, corporations, and individuals.
UTL Trust Management Services
Acquisition in 2015
UTL Trust Management Services is a provider of comprehensive financial and trust services based in Nigeria. The company specializes in trusteeship, offering estate administration, charitable trusts, and portfolio management. It also delivers fund placement and property management services tailored to meet the needs of sub-sovereign entities, corporations, and individual clients across various sectors. UTL Trust Management Services is dedicated to facilitating trust transactions and ensuring effective management of assets for its diverse clientele.
Niyya Farm Group Limited
Venture Round in 2014
Niyya Food & Drinks Company Limited, a subsidiary of Niyya Farm Group Limited, operates in Kaduna, Nigeria, specializing in the production of fresh fruit juice and dairy products. The company manufactures Farm Pride Yoghurt and Farm Pride Juices, using 100% Nigerian fruits sourced from its extensive 3,000+ hectares of farmland. Niyya Food & Drinks distinguishes itself in the market by using raw fruits rather than imported concentrates for juice production, catering particularly to health-conscious consumers. With a state-of-the-art processing plant, Niyya Food & Drinks focuses on producing, processing, bottling, and distributing high-quality, non-concentrate juices and yoghurts, ensuring affordability and accessibility for its customers.
Efora Energy
Post in 2014
Efora Energy Limited is an independent oil and gas company based in Johannesburg, South Africa. Established in 1993, it engages in exploration, production, distribution, and trading of oil and gas properties across Africa. The company holds interests in assets located in Egypt, Democratic Republic of Congo, Malawi, Botswana, Nigeria, and Equatorial Guinea. Its operations include exploration and appraisal activities, crude oil trading, and the sale of petroleum products such as diesel, petrol, and paraffin to various customers in South Africa and Zimbabwe. Efora Energy is led by a highly experienced team with expertise in African oil and gas exploration, development, project management, and finance.
Spinlet
Private Equity Round in 2011
Spinlet is a mobile music download platform that enables users to buy, listen, share, and manage music in a user-friendly environment. Founded in 2006 in Finland, with additional offices in San Francisco and Lagos, Spinlet focuses on making music accessible, particularly in emerging markets in Africa. The platform features a vast music library that users can access by downloading the application for free. It facilitates the purchasing and discovery of new music while allowing seamless integration with users' existing music libraries on their mobile devices. Spinlet also incorporates a social element, enabling users to create and share playlists with friends. With multiple payment systems available, Spinlet aims to enhance the music experience for all users, ensuring that both popular and new content is easily accessible.
Rotoprint
Venture Round in 2011
Rotoprint Ltd is a manufacturer of flexible plastic packaging for the consumer goods sector and serves over 300 customers. The company manufactures products such as printed Polyvinyl Chloride (PVC) shrink labels, shrink films, tamper evident bands, tapes, wraps, and sleeves in Nigeria.
GZ Industries
Venture Round in 2009
GZ Industries Limited is a Nigerian company that specializes in the manufacturing of aluminum beverage cans for both soft drinks and alcoholic beverages. Established in 2006 and based in Ogun, Nigeria, GZ Industries commissioned its state-of-the-art factory in August 2010, which spans 46,000 square meters and is equipped with advanced machinery sourced from Europe and the USA. Since reaching an annual production capacity of 1.2 billion cans in 2012, the company has been serving a diverse clientele, including multinational and local beverage firms throughout West Africa. GZ Industries employs approximately 250 personnel, comprising both Nigerian and expatriate staff, and is committed to adhering to global quality and food safety standards in its manufacturing processes. The facility has potential for future expansion, including the addition of a can filling line.
H.F.P Engineering
Venture Round in 2008
H.F.P. Engineering Limited is a prominent building and civil engineering company based in Nigeria, focusing on conventional building construction techniques, prefabrication systems, and infrastructure development. The company has played a significant role in enhancing the country’s infrastructure, having constructed thousands of homes, schools, industrial areas, and hospitals. Additionally, H.F.P. Engineering has been involved in laying hundreds of kilometers of roads, contributing to the improvement of transportation networks. By offering a diverse range of construction and engineering services, the company strives to raise housing and construction standards across Nigeria, thereby supporting community development and addressing housing needs.
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