TPG Partners Satya Capital To Invest Up To $1bn in African Startups

TPG Growth, the global middle market and growth equity platform of TPG, has partnered with Sudanese billionaire Mo Ibrahim’s Satya Capital  to invest in African businesses .

Mo Ibrahim’s Satya Capital with its experience on the African business arena is to provide 30% of the fund with the rest of the 70% to be taken up by TPG .

Africa being the last major market in which the  company has not yet invested in,the company is to focus on businesses in healthcare, information technology, consumer and financial services, among other sectors with about $1 million to $200 or $300 million investments according to Mo Ibrahim.

The co-founder of TPG, David Bonderman, said: “TPG was an early and successful investor in both Asia and Latin America and, working with Mo and Satya, we believe now is the time to recreate that same success in Africa. We look forward to identifying and supporting growing African businesses to meet the increasing demand from consumers on the continent and beyond.”

“I am very excited that we have found such a great partner in TPG. The dynamic combination of talent and experience of TPG and Satya has the potential to change the scope of investment across the continent”said Mo Ibrahim.

Satya Capital and TPG Growth’s partnership will give African startups the needed boost in terms of solid financial supports since this has been one of the major problems on the continents startups ecosystem.