Investment Summary

Warburg Pincus, Temasek Holdings, Singapore Telecommunications and SoftBank Invest In Airtel Africa

On October 24, 2018, private equity firm Warburg Pincus, sovereign wealth fund Temasek Holdings, Singapore Telecommunications and SoftBank invested in communications company Airtel Africa

Investment Highlights
  • This is Warburg Pincus’ 13th, Temasek Holdings’ 1st, Singapore Telecommunications’ 1st and SoftBank’s 6th transaction in the Communications sector.
  • This is Warburg Pincus’ 1st, Temasek Holdings’ 1st, Singapore Telecommunications’ 1st and SoftBank’s 1st transaction in Kenya.
Investment Fate
  • Airtel Africa went public in 2019.

Investment Summary

Date 2018-10-24
Target Airtel Africa
Sector Communications
Investor(s) Warburg Pincus
Temasek Holdings
Singapore Telecommunications
SoftBank
Deal Type Venture

Target

Airtel Africa

Nairobi, Kenya
Airtel Africa is a telecom company that provides voice, data and mobile money services across 14 countries in Sub-Saharan Africa. Airtel Africa was founded in 2010 and is based in Nairobi, Kenya.

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Investor(S) 4

Investor

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


DEAL STATS #
Overall 387 of 492
Sector: Communications M&A 13 of 19
Type: Venture M&A Deals 59 of 70
Country: Kenya M&A 1 of 1
Year: 2018 M&A 36 of 41
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-23 Assent

Ottawa, Ontario, Canada

Assent is a supply chain data management company combining leading-edge technologies with extensive supply chain expertise and provides SaaS solutions that manage third-party data to protect corporate brands, increase market accessibility, and reduce operational and financial risk. Assent was founded in 2010 and is based in Ottawa, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-12 Weave Living

Hong Kong, China

Weave Living is a collaborative living company whose mission is to provide high quality, modern, comfortable and affordable living spaces for millennials and young professionals to create a home in key gateway cities across Asia Pacific. The company builds close-knit communities in a hassle-free living environment, where residents enrich lives by sharing experiences and inspiring each other to achieve their goals. Weave Living was founded in 2017 and is based in Hong Kong, China.

Buy -
Investor

Temasek Holdings

Investor Investor Investor Investor Investor


Category Sovereign Wealth Fund
Founded 1974
PE ASSETS 434.0B SGD
Size Mega
Type Sector Agnostic
DESCRIPTION

Temasek Holdings is a state-owned investment holding company. Temasek is owned by the government of Singapore and invests directly and indirectly in a broad range of assets and sectors. Target sectors include financial services, telecommunications, media, technology, transportation, industrials, life science, consumer, real estate, energy, and resources. Temasek was formed in 1974 and is based in Singapore.


DEAL STATS #
Overall 33 of 50
Sector: Communications M&A 1 of 1
Type: Venture M&A Deals 7 of 9
Country: Kenya M&A 1 of 1
Year: 2018 M&A 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-10 Sygnia

Tel Aviv, Israel

Sygnia is a cyber technology and services company, providing high-end consulting and incident response support for organizations worldwide. Sygnia works with companies to proactively build their cyber resilience and to respond and defeat attacks within their networks. Sygnia was founded in 2015 and is based in Tel Aviv, Israel.

Buy $250M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-12 Topsoe

Kgs. Lyngby, Denmark

Topsoe is a global producer of high-performance catalysts and proprietary technologies for the chemical and refining industries. Based on cutting-edge research and development, Haldor helps its customers achieve optimal performance in all phases from design to daily operations – in the most responsible way. Topsoe was founded in 1940 and is based in Kgs. Lyngby, Denmark.

Buy -
Investor

Singapore Telecommunications

Singapore, Singapore

Category Company
Founded 1992
Sector Communications
Employees22,886
Revenue 14.1B SGD (2025)
DESCRIPTION

Singapore Telecommunications is a provider of international and local telephone services, mobile communication services, data communications services and postal services. Singapore Telecommunications was founded in 1992 and is based in Singapore.


DEAL STATS #
Overall 5 of 5
Sector: Communications M&A 1 of 1
Type: Venture M&A Deals 1 of 1
Country: Kenya M&A 1 of 1
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-08 Trustwave

Chicago, Illinois, United States

Trustwave is a cybersecurity company that reduces cyber risk and fortifies organizations against disruptive and damaging cyber threats. The company's comprehensive offensive and defensive cybersecurity portfolio detects what others cannot, responds with greater speed and effectiveness, optimizes its client’s cyber investment, and improves security resilience. It is an analyst-recognized leader in managed detection and response (MDR), managed security services (MSS), cyber advisory, penetration testing, database security, and email security. Trustwave was formed in 1995 and is based in Chicago, Illinois.

Buy $810M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-04 Airtel Africa

Nairobi, Kenya

Airtel Africa is a telecom company that provides voice, data and mobile money services across 14 countries in Sub-Saharan Africa. Airtel Africa was founded in 2010 and is based in Nairobi, Kenya.

Sell -
Investor

SoftBank

Tokyo, Japan

Category Company
Founded 1981
Sector Diversified
Employees67,229
Revenue 7.24T JPY (2025)
DESCRIPTION

SoftBank is a diversified telecommunications and internet corporation, with operations in broadband, fixed-line telecommunications, e-commerce, Internet, broadmedia, technology services, finance, media and marketing, and other businesses. SoftBank was founded in 1981 and is based in Tokyo, Japan.


DEAL STATS #
Overall 20 of 30
Sector: Communications M&A 6 of 6
Type: Venture M&A Deals 1 of 1
Country: Kenya M&A 1 of 1
Year: 2018 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-29 Sprint

Overland Park, Kansas, United States

Sprint is a provider of wireless and wireline communications services for consumers, businesses and government users. In addition to the Sprint brand, Sprint offers its services through Virgin Mobile USA, Boost Mobile, and Assurance Wireless.

Sell $59.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-10 ParkJockey Global

Miami, Florida, United States

ParkJockey Global, Inc. is a fully-integrated parking revenue and access control startup that allows the real estate owners/operators to streamline parking operations using smart software and hardware technologies and data APIs. ParkJockey Global was formed in 2013 and is based in Miami, Florida.

Buy -