Investment Summary

Development Partners International, Ethos Private Equity and Convergence Partners Invest In Optasia

On September 23, 2019, private equity firms Development Partners International, Ethos Private Equity and Convergence Partners invested in information technology company Optasia

Investment Highlights
  • This is Development Partners International’s 1st, Ethos Private Equity’s 2nd and Convergence Partners’ 2nd transaction in the Information Technology sector.
  • This is Development Partners International’s 1st, Ethos Private Equity’s 1st and Convergence Partners’ 1st transaction in United Arab Emirates.

Investment Summary
Date 2019-09-23
Target Optasia
Sector Information Technology
Investor(s) Development Partners International
Ethos Private Equity
Convergence Partners
Deal Type Growth Capital

Target

Optasia

Dubai, United Arab Emirates
Optasia is a FinTech and data analytics company that works together with over 27 mobile network operators in over 30 countries globally. It currently serves over 650 million people globally and lends more than US$5 million daily to its customers. Optasia was founded in 2012 and is based in Dubai, United Arab Emirates.

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Investor(S) 3

Investor

Development Partners International

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Development Partners International is a private equity group focused on investment opportunities across Africa. The Firm targets companies that benefit from the fast-growing emergence of the middle-class. Sectors of interest include communications, financial services, retail, education, and Consumer durables. Development Partners International was established in 2007 and is headquartered in London.

DEAL STATS #
Overall 14 of 20
Sector (Information Technology) 1 of 1
Type (Growth Capital) 5 of 9
Country (United Arab Emirates) 1 of 1
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-05 IFS

Mapou, Mauritius

IFS is a provider of specialist facility management services to clients on remote sites across the African continent, including catering, maintenance, laundry, and housekeeping. IFS was founded in 2000 and is based in Mapou, Mauritius.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-05-21 SICAM

Medjez el Bab, Tunisia

SICAM is a producer of canned tomatoes, pepper pastes, and jams and one of the most recognized brand names in Tunisia’s food and agri-industry, with a strong track record of delivering quality products to its customers. SICAM was founded in 1969 and is based in Medjez el Bab, Tunisia.

Buy -
Investor

Ethos Private Equity

Illovo, South Africa
Category Private Equity Firm
Founded 1984
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Ethos Private Equity is a private equity investor that targets opportunities in South Africa. Ethos looks for stable businesses valued between $15 and $100 million US. Target transactions include divestitures of non-core assets, sector consolidations, development of family owned businesses, growth financings, and turnarounds. Ethos was formed in 1984 and is based in Johannesburg, South Africa.

DEAL STATS #
Overall 48 of 48
Sector (Information Technology) 2 of 2
Type (Growth Capital) 7 of 7
Country (United Arab Emirates) 1 of 1
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-10 TymeBank

Johannesburg, South Africa

TymeBank is a provider of banking and financial services. TymeBank has positioned itself as the leading low-cost transactional bank to the mass market segment. Consumers in this segment are traditionally under-served as well as under-serviced. TymeBank was founded in 2012 and is based in Johannesburg, South Africa.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-29 J&J Africa

Beira, Mozambique

J&J Africa is a transporter and logistics provider specializing in reliable and efficient international transportation along the Beira Corridor. J&J also offers state of the art warehouse facilities for the handling of bulk and container cargo. J&J Africa was established in 1995 and is based in Beira, Mozambique.

Sell -
Investor

Convergence Partners

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2006
Size Small
Type Sector Focused
DESCRIPTION

Convergence Partners is an investment group focused on technology, media, and communications opportunities in Africa. The Firm looks to fund initiatives that increase the availability of communications, broadband services and new technology offerings to the people of Africa. Convergence Partners was formed in 2006 and is based in Johannesburg, South Africa.

DEAL STATS #
Overall 8 of 10
Sector (Information Technology) 2 of 3
Type (Growth Capital) 2 of 3
Country (United Arab Emirates) 1 of 1
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-09 ESET

Bratislava, Slovakia

ESET is a provider of security solutions for the home and business segment. With solutions ranging from endpoint and mobile security to encryption and two-factor authentication, ESET’s high-performing, easy-to-use products give consumers and businesses the peace of mind to enjoy the full potential of their technology. ESET was launched in 1992 and is based in Bratislava, Slovak Republic.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-31 Rack Centre

Ikeja, Nigeria

Rack Centre is the only carrier-neutral Tier III Constructed Facility Certified data center in Africa and focuses solely on providing best-in-class data center colocation services and unrestricted interconnection between carriers and customers. Rack Centre was founded in 2012 and is based in Ikeja, Nigeria.

Buy -
Mergr

Product

Company

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