VEROD CAPITAL GROWTH III-A LP
Status: Approved investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Verod Capital Growth III, a Nigerian based fund providing growth capital to medium-sized business in Anglophone West Africa (primarily Nigeria & Ghana). The fund is managed by Verod Capital Management, an investment firm providing growth capital to medium-sized business.
What is our funding objective?
The intended USD 15m investment is an opportunity to be an anchor investor in the successor fund of an existing relationship with whom FMO has great experience in the past.
Why do we fund this investment?
Through providing growth financing and institutionalizing SME/mid-sized companies in the market. The Fund will help them grow, thus creating employment and tax revenues. Verod’s strategy of import substitution will also help decrease the import bill of the currently severely cash strapped Nigerian government.
What is the Environmental and Social categorization rationale?
E&S rating of B. FMO is positive on Verod’s commitment to ESG. At the time of establishing Fund II, FMO provided significant guidance on the appropriate E&S standards to be implemented and an initial training to the team on ESG. Over the years we have taken multiple steps to build ESG capabilities of the Fund Manager. These efforts will continue with our investment in Fund III.
- Website customer/investment
- http://verodgroup.com/
- Region
- Africa
- Country
- Nigeria
- Sector
- Infrastructure, Manufacturing and Services
- Publication date
- 5/11/2018
- Effective date
- 3/29/2019
- Total FMO financing
- USD 15.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B