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
Past deals in West Africa
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.
Kobo360
Seed Round in 2018
Kobo360 is a digital logistics platform founded in 2017 and headquartered in Lagos, Nigeria. It connects manufacturers and cargo owners with truck operators, utilizing technology and data analytics to streamline haulage operations. By creating an integrated logistics ecosystem, Kobo360 aims to enhance supply chain efficiency and reduce costs for all stakeholders, including cargo owners, truck owners, and drivers. The platform addresses logistics challenges by offering real-time visibility, optimizing routes, and improving last-mile delivery. Additionally, Kobo360 is working to enter the agro-trading sector, facilitating a marketplace that directly links farmers with global buyers, thereby reducing reliance on middlemen and increasing profits for smallholder farmers. The company's mission is to develop a comprehensive Global Logistics Operating System that fosters trade and commerce across Africa and emerging markets.
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.
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.
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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