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.

Daniel Adeoye

Principal and Head, Investments

Trish Amoah-Ntim

Principal, Investments

Malvika Kapoor

Vice President, Investments

Wale Odusanya

Principal, Investments

Past deals in Nigeria

Kobo360

Seed Round in 2018
Kobo360 is a digital logistics platform that connects cargo owners, truck operators, and drivers to streamline the supply chain process. Founded in 2017 and headquartered in Lagos, Nigeria, the platform utilizes data analytics and artificial intelligence to enhance efficiency in logistics operations, particularly in last-mile delivery. Kobo360 aims to reduce communication gaps and optimize pick-ups and deliveries, ensuring goods are moved seamlessly across the continent. The company also supports rural farmers by minimizing farm wastages, thereby enabling them to access new markets and increase their earnings. In addition to its logistics services, Kobo360 plans to establish a marketplace to link farmers directly with buyers globally, which will help eliminate intermediaries and improve profitability for smallholder farmers. Ultimately, Kobo360 seeks to build a comprehensive logistics ecosystem that enhances trade and commerce in Africa and emerging markets.

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.

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 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.

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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