Imperial buys into e-Logistics startup, Eris reaches 25% of fundraising goal, EPPF plans commitments to Carlyle and KKR funds, and more...

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Last week in brief... It was transactions at the lower end of the deal value spectrum that made the news last week. In fact, there were no pure private equity or growth capital deals to speak of...just three venture deals all in interesting sectors.

We kick off with an investment in the e-Logistics sector, this time by a corporate venture fund. Imperial Logistics, one of the continent's largest logistics providers, has made an investment in Lori Systems, an e-Logistics startup based in Kenya, through its $20 million corporate venture unit. Lori will use the capital for its expansion plans in Southern Africa, and will no doubt leverage Imperial's mentoring and market position to fast track its growth plans.

In Morocco, MITC Capital has invested in ATLAN Space's Series A round on behalf of the second Maroc Numeric Fund. ATLAN is an artificial intelligence technology company based in Morocco that helps governments and other institutions fight environmental crimes such as illegal fishing and deforestation, thereby protecting vulnerable local populations. It's the third deal for the fund, which, like its predecessor, is backed by various financial institutions in North Africa.

Staying in North Africa, this time in Egypt, Sawari Ventures is investing in a Series A round for Brantu, an online fashion retailing startup. The venture firm is investing "seven figures" in the year-old startup which will use the capital to expand its user base, develop new verticals, and grab a bigger share of Egypt's fashion market. Shopping in Egypt, like elsewhere in the world, is rapidly going online because of the current pandemic.

Eris Property Group has reportedly raised 25% of its final goal for its new investment platform, the Momentum Student Accommodation Impact Fund (or MSAIF). The fund now has R650 million (or about $41.7 million) in commitments from a group of local and global investors. The fund is ultimately targeting $120 million by final close for investments in student accommodation in South Africa. The investors in the fund so far include EPPF, the IFC, and Momentum Metropolitan Life.

We reported on a couple of recent developments at companies which count private capital investors among their shareholders. dLocal, a payments company with $200 million in hand from investments made by General Atlantic and Addition in September, has wasted little time in getting to work on its expansion plans for Africa. The Uruguayan-based startup is expanding its payments network to Kenya, Ghana, Cameroon, and Senegal as well as striking integration partnerships with payment companies Verve in Nigeria and Fawry in Egypt. It's all part of the startup's goal to expand into 13 new countries in Latin America and southeast Asia as well as Africa.

The European Bank for Reconstruction and Development (EBRD) is mulling a debt investment in what's going to Egypt's largest privately-developed solar power plant. The DFI's board will meet in early December to review the $44 million investment in Kom Ombo, a 200MW Solar PV plant located in southern Egypt, not far from the Aswan dam. If it goes ahead, the financing will be used to support the construction and initial operation of the plant by ACWA Power.

News of another potential DFI debt investment, this time for Helios Towers, was announced last week. IFC is considering a $200 million debt deal with the tower operator to help it expand the number of towers in its portfolio. Part of it could be used to finance the acquisition of Free Senegal's towers which Helios agreed to in August.

In people news, South Africa's Public Investment Corporation has appointed two senior executives to its management team. The first is company insider, Vuyani Hako who is being promoted to be the fund manager's COO. And August van Heerden is set to join as PIC's new Chief Risk Officer in early January next year from Absa.

FinDev Canada has a new Chief Investment Officer. Paolo Martelli, who joined the young DFI in July 2018, has been promoted to the role which he assumed in October. He is based in Montreal.

And finally, news of a South African LP planning on making commitments to private capital funds run by alternative asset giants, Carlyle and KKR. Eskom's pension fund is considering an allocation of $170 million to the funds, which will invest in private equity, infrastructure, and real estate deals in America.

That's it for this week. As always, you can review these and other stories by clicking through to this week's preview edition of the newsletter.

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