Adlevo Capital Raising African Tech Fund

Adlevo Capital Managers has held a $52 million first close on a fund that will make expansion equity investments in African tech-enabled companies. A final close in expected in Q1 2011.

PRESS RELEASE

Adlevo Capital Managers (“Adlevo Capital”) announced today that it has completed the first closing of Adlevo Capital Africa (the “Fund”) with capital commitments of US$52 million. The Fund will make expansion capital investments into companies with technology-enabled business models across sub- Saharan Africa.

The Fund has received capital commitments from a premier group of development finance institutions and private institutional investors based in Europe, South Africa and the US. “We are very pleased to have attracted investments from several of the most successful Africa fund investors who, like us, see the growing scope for compelling technology-enabled company investments and believe that investments in this area will also provide positive social development outcomes,” said, Yemi Lalude, founder and Managing Partner of Adlevo Capital. “The Adlevo Capital team has developed a pipeline of attractive investment opportunities and is looking forward to commencing investments and working with the management teams of its portfolio companies.”

Adlevo Capital plans to hold additional closings for the Fund over the next nine months with a final closing in the first quarter of 2011.

About Adlevo Capital
Adlevo Capital, a Mauritius-based fund manager, is the first private equity firm focused on investments into technology-enabled companies across multiple African countries. The firm was founded by seasoned professionals, with a combination of private equity and operational experience in Africa and the United States, to capitalize on growing investment opportunities in the technology-enabled service segments of multiple industry sectors in sub-Saharan Africa. The Adlevo Capital team’s operating experience, technology expertise and extensive network of relationships enable it to add significant value to portfolio companies from its local offices in Lagos and Johannesburg. For more information, please visit www.adlevocapital.com.