Stake Sale • Renewable Energy

Apis Partners and HarbourVest Partners Exits Sun King

On January 9, 2023, invested in renewable energy company Sun King from Apis Partners and HarbourVest Partners

Investment Context
  • This is transaction in the Renewable Energy sector.
  • This is transaction in Kenya.

Explore All 33 Stake Sale Renewable Energy Deals - Search the Database Free


Investment Summary

Date January 9, 2023
Target Sun King
Sector Renewable Energy
Sellers(s) Apis Partners
HarbourVest Partners
Deal Type Stake Sale

Target Company

Sun King

Nairobi, Kenya
Sun King is an off-grid solar energy company with cutting-edge product design, affordable financing, and a grassroots installation model to provide energy to the 1.8 billion consumers across Africa and Asia who lack access to reliable electricity. Sun King was founded in 2007 and is based in Nairobi, Kenya.
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Seller Profiles 2

SELLER
DESCRIPTION

Apis Partners is an investment group focused on investing in financial services companies operating in emerging markets. Specific areas of interest include payments, insurance, credit/savings, capital markets, and tech-enabled service providers. Apis looks to back companies benefiting from increased mobile adoption and access to financial products and services. Apis Partners was established in 2014 and is headquartered in London.


Deal Context for Seller #
Overall 6 of 10
Sector: Renewable Energy 1 of 1
Type: Stake Sale 1 of 1
Country: Kenya 1 of 1
Year: 2023 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-26 Money View

Bengaluru, India

Money View is an online financial services platform providing personalized credit products and personal financial management solutions. Money View was founded in 2014 and is based in Karnataka, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-25 EZRA

Singapore, Singapore

EZRA is a micro-lending fintech that partners with banks, mobile network operators, utility companies, and e-commerce platforms to deliver “easy and rapid” credit solutions in financially underserved markets. Its integration provides partners with credit solutions that can be adapted to each business’s individual needs. Moreover, its robust and proprietary credit scoring system allows the company to ensure that at least 60% of its partners’ end consumers are eligible for a loan. EZRA is based in Singapore.

Buy -
SELLER

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1978
PE ASSETS 147.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.


Deal Context for Seller #
Overall 132 of 150
Sector: Renewable Energy 1 of 1
Type: Stake Sale 1 of 1
Country: Kenya 1 of 1
Year: 2023 1 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-29 Lucid

New Orleans, Louisiana, United States

Lucid is a research technology (ResTech) platform that delivers programmatic access to first-party survey data. This data can be used to build business strategies, measure the impact of digital advertising, publish research, and more. Lucid was founded in 2010 and is based in New Orleans, Louisiana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-12 Triton International

Hamilton, Bermuda

Triton International engages in the acquisition, leasing, re-leasing, and sale of various types of intermodal transportation equipment to shipping lines, and freight forwarding companies and manufacturers. Triton International was founded in 1980 and is based in Hamilton, Bermuda.

Sell $13.3B

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