Verod Capital Management Limited is a private equity firm established in 2008 and based in Lagos, Nigeria. The firm specializes in mid-market, growth capital, and buyout transactions, focusing primarily on opportunities in West Africa, particularly in countries such as Gambia, Ghana, Liberia, Nigeria, and Sierra Leone. Verod invests between $3 million and $20 million and typically acquires majority or significant minority equity stakes with minority protection rights in its portfolio companies. The firm targets a diverse range of sectors, including financial services, business services, education, healthcare, agribusiness, consumer goods, light manufacturing, civil engineering, media and technology, real estate, and energy. Verod employs an active management approach, leveraging its extensive industry knowledge and operational expertise to enhance the value of its investments and position them for successful exits, holding assets for periods of four to seven years.
Moniepoint is a financial technology company that offers a comprehensive digital banking and payment ecosystem tailored for small and medium-sized businesses. The platform provides a range of services, including payment processing, credit access, and business management tools. Moniepoint enables businesses to create accounts and accept payments through various offline and online channels, facilitating efficient financial management. By integrating banking solutions with essential business tools, Moniepoint supports organizations in managing their finances and accessing the resources necessary for growth.
I-Fitness Centre
Acquisition in 2024
I-Fitness Centre is a prominent health and wellness company recognized as a leading and rapidly expanding fitness chain. It operates a network of gyms that provide a variety of fitness and nutrition programs, including aerobics, yoga, spinning, and core cardio. In addition to its physical locations, I-Fitness Centre also offers online platforms that enhance access to wellness services. The company aims to support individuals in achieving their health and fitness goals by providing a comprehensive range of gym products and tailored programs designed to meet diverse needs.
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 BPO is the largest independent call centre operator in Africa with presence in 10 Anglophone and Francophone countries as well as a large presence in India. It serves 100 million customers for clients in telecom, public sector and retail and employs 6,000 people, of which 3,400+ are employed in Africa, providing voice and CRM process solutions.
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 mobility fintech company focused on providing revenue-based vehicle financing to entrepreneurs in the mobility sector across Africa. By utilizing embedded alternative credit-scoring technology within ride-hailing, logistics, and delivery platforms, Moove aims to democratize vehicle ownership and improve access to financial services for those previously excluded. The company's innovative approach leverages proprietary performance and revenue analytics to assess and underwrite loans, enabling mobility entrepreneurs to secure the financing needed to grow their businesses. Through this model, Moove addresses the financial barriers faced by individuals in the mobility industry, promoting economic empowerment and expanding opportunities for entrepreneurship.
Metropolitan Life Insurance Nigeria
Acquisition in 2019
Metropolitan Life Nigeria is a life insurance company offering group life and credit life products to clients across the public and private spheres.
Daystar Power
Series A in 2019
Daystar Power focuses on delivering solar power and energy efficiency solutions tailored for businesses in the commercial, industrial, and agricultural sectors. The company aims to provide affordable, reliable, and clean energy through solar hybrid power systems, which help clients significantly reduce power costs, diesel consumption, and pollution. Daystar Power offers its services through flexible payment options, including cash sales or monthly fees, allowing companies to achieve a stable power supply while minimizing their environmental impact.
Tangerine Life
Acquisition in 2019
Tangerine Life is a financial technology company that consistently goes the extra mile to improve the financial security of our consumers.With innovation and ingenuity as our guiding principles, we provide a range of avenues through which our consumers can access secure financial services that enable them improve their lives.
Kobo360
Seed Round in 2018
Kobo360 is a tech-enabled digital logistics platform that aggregates end-to-end haulage operations to help cargo owners, truck owners, and drivers, and cargo recipients to achieve an efficient supply chain framework. Through an all-in-one robust logistics ecosystem, Kobo uses big data and technology to reduce logistics frictions, empowering rural farmers to earn more by reducing farm wastages and helping manufacturers of all sizes to find new markets. Kobo enables unprecedented efficiency and cost reduction in the supply chain, providing 360-visibility while delivering products of all sizes safely, on time and in full. The Kobo mission is to build the Global Logistics Operating System that will power trade and commerce across Africa and Emerging Markets. The company is also preparing to enter the agro-trading space by creating a marketplace that links farmers with buyers all over the world. The marketplace will effectively eliminate the high cost of middlemen for smallholder farmers and significantly improve profits. Ife Oyedele ll and Obi Ozor founded it in 2017 and is headquartered in Lagos, Nigeria.
Shaldag
Private Equity Round in 2016
Shaldag Limited is a greenfield aquaculture production company focused on the large-scale production, distribution, and sale of fish and fish products, specifically catfish and tilapia. The company operates a state-of-the-art aquaculture facility that includes hatcheries, nurseries, and on-growing sections. Located in Epe, Shaldag's fish farm is set to become the largest of its kind in Nigeria upon completion. Committed to providing high-quality and healthy fish products, Shaldag aims to meet the growing demand for sustainable food sources in both local and international markets.
Union Trustees
Acquisition in 2015
Union Trustees provides fund management and nominee services to its clients, which include state governments, corporations and individuals.
UTL Trust Management Services
Acquisition in 2015
UTL Trust Management Services is a provider of trusteeship and financial services, offering a range of solutions that include trust transactions, charitable trusts, estate administration, and portfolio management. The company also specializes in fund placement and property management, catering to sub-sovereign, corporate, and individual clients across various sectors in Nigeria. Through its comprehensive service offerings, UTL Trust Management Services aims to meet the diverse needs of its clientele in managing their estates and investments effectively.
Niyya Farm Group Limited
Venture Round in 2014
Niyya Farm Group Limited is the holding company of an agro-processing business that produces fresh fruit juice and dairy products. Niyya Food & Drinks Company Limited is a subsidiary of Niyya Farm Group Limited and the manufacturer of Farm Pride Yoghurt and Farm Pride Juices. Farm Pride Juice is grown from quality 100% Nigerian fruits harvested from Niyya-Farm Group’s extensive farm. Niyya Farms owns 3,000+ hectares of land, with a twin state of the art processing plant for production of the Fresh Fruit Juices and Yoghurt. Its products are made from raw fruits and not concentrates, unlike other competitors in the market who use imported concentrates for juice production, this makes their products prime target for everybody, especially to health conscious consumers.
Efora Energy
Post in 2014
EforA Energy focuses on opportunities within proven hydrocarbon basins, across the Exploration and Production (E&P) spectrum from production, appraisal/ near-term production through to exploration opportunities. SacOil’s interests and include assets in Malawi, the DRC and Nigeria. EforA Energy has a highly experienced Board and executive management team with proven expertise in African oil and gas exploration and development as well as in project management and finance. Being a company incorporated in South Africa, SacOil knows and understands the African continent very well.
Spinlet
Private Equity Round in 2011
Spinlet is a mobile music download platform designed to cater to music lovers by enabling them to buy, listen, share, and manage their music in a user-friendly environment. Established in 2006 in Finland, with additional offices in San Francisco and Lagos, Spinlet focuses on serving emerging markets in Africa by providing a vast music library accessible through a free application. The platform promotes music discovery and purchasing while allowing seamless integration and storage of users' music collections on their mobile devices. Spinlet supports various payment systems, making music accessible to a wide audience. Additionally, the platform fosters social interaction by facilitating the creation and sharing of playlists among friends. Users can start enjoying the service immediately, utilizing their existing music library or Spinlet Credits for new content. In 2011, Spinlet received significant funding from Verod Capital Management Limited to further its global expansion efforts.
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 is an indigenous company that manufactures aluminium beverage cans in West Africa. The factory was commissioned in August 2010 to manufacture Aluminum beverage cans for brewers and bottling companies in Nigeria and other West African countries. It reached capacity of 1.2 billion cans, per annum, in 2012. . GZI’s 46,000 m2 factory is world-class, with state-of-the-art equipment sourced from Europe and the USA. The space is sufficient for additional manufacturing expansion in the future or/and inclusion of a can filling line. The Company employs 250 personnel, including Nigerian and expatriate staff.
H.F.P Engineering
Venture Round in 2008
H.F.P. Engineering Limited is a building and civil engineering company, which specializes in conventional building construction techniques, prefabrication systems, infrastructure construction and development, as well as electro-mechanical projects. struction companies under both the Lagos State Government and the Federal Ministry of Works. H.F.P has provided thousands of houses for Nigeria families built schools for Nigerian children, constructed industrial areas, developed revolutionary new housing projects, established hospitals, laid hundreds of kilometers of roads across the country.
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