Musa Capital Investment Criteria
Fund investment focus
The Fund’s investment focus is the middle market, and the investments are generally in mid-cap (as defined by valuations of between US$20M and US$50M). The Fund provides the required hands-on support across the entire business including, amongst other things, managerial, board level and governance support.
Ownership stakes
- The Fund typically holds majority or significant minority ownership stakes in its investments.
Size of investment
The amounts of investments typically range between US$2M and US$15M. The investment is generally a combination of equity and structured debt and often is trenched over a period of time to allow management to reach milestones in their business models, triggering the release of further fund capital (including senior, mezzanine, etc.).
Stage of investment
- The Fund focuses on established, growth phase companies who require expansion capital to fuel their business models.
- The Fund does not typically focus on start-ups.
Geography
- Sub-Saharan Africa;
Sectors
Allocated broadly as follows:
- Telecommunications,
- Financial Services (specifically Consumer Finance),
- Mining and Mining Services,
- Retail and Consumer Goods,
- Construction; and
- Renewable energy
New growth platforms:
- Agri-business processing;
- Renewable energy