Investment company Verod Capital completely sells its stake in the education sector from Fund II.
**Verod Capital Exits TAG West Africa, Marking Successful Investment**
Verod Capital Management, a prominent African private equity firm, has announced its exit from TAG Investments EW Africa Ltd, better known as TAG West Africa. This move signifies the successful conclusion of Verod's investment in the company, which was made through its Verod Capital Growth Fund II.
**Key Points About the Exit:** - The investment period spanned approximately eight years, during which Verod worked closely with TAG West Africa to support its growth and strategic initiatives. - The investment was part of Verod Capital Growth Fund II, a fund focusing on mid-sized companies across Africa. - The exit is seen as a testament to Verod's ability to identify and nurture promising businesses on the continent.
**Lancaster University Ghana: A Significant Operation**
Lancaster University Ghana, a key operation of TAG West Africa, is a transnational campus of Lancaster University, UK. Established to provide high-quality British-style education in West Africa, the university offers a range of undergraduate and postgraduate programs, enabling students in Ghana and other parts of West Africa to access British-accredited degrees locally.
**Key Points About Lancaster University Ghana:** - The university is owned and operated by TAG Investments EW Africa Ltd, which was previously part of Verod's investment portfolio. - During Verod's holding period, Lancaster University Ghana was relocated to a new, larger campus with a capacity for around 3,000 students.
Although Verod's exit from TAG West Africa does not directly impact the operational aspects of Lancaster University Ghana, it signifies a strategic shift in Verod's investment portfolio, as the firm looks to new opportunities across Africa. Verod Capital, which manages over $365 million in assets across three funds, has backed over 40 mid-market high-growth companies, including Mansard Pensions, DTRT Apparel, MedPlus, Tangerine Financial, and Law Union & Rock Insurance.
Last year, Verod struck its sixth deal from the third investment vehicle, picking a 65% stake in Nigeria's leading fitness chain iFitness. Other investments from Fund II include Rainbow College, specialty retailer Africa Lifestyle, and beverage company Niyya Foods. Verod is currently deploying from its $200-million Verod Capital Growth Fund III, looking to launch its fourth vehicle, which will focus on climate solutions and expand its footprint into Francophone West Africa.
Trish Amoah-Ntim, an investment principal at Verod, leads the firm's efforts in backing mid-sized companies across the African continent. Verod's investments have also extended to businesses such as solar power company Daystar Power and business process outsourcing (BPO) company iSon Xperiences, where it picked a majority stake alongside existing investor Africinvest.
- Verod Capital's successful exit from TAG West Africa, a significant operation that houses Lancaster University Ghana, demonstrates their proficiency in education-and-self-development sectors, as Lancaster University Ghana offers British-style education and local access to British-accredited degrees.
- While this exit may not immediately affect Lancaster University Ghana's operational aspects, it underscores Verod Capital's commitment to education-and-self-development, as they continue to explore new investment opportunities across Africa.
