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VEROD CAPITAL GROWTH FUND III

Signature(s)

Amount
€ 12,906,097.02
Sector(s)
Services : € 12,906,097.02
Signature date(s)
29/03/2019 : € 12,906,097.02
Link to source
Data sheet
VEROD CAPITAL GROWTH FUND III
Other links
Summary sheet
VEROD CAPITAL GROWTH FUND III
Parent project
ACP&OCT GLOBAL AUTHORISATION VIII

Summary sheet

Release date
8 February 2018
Status
Reference
Signed | 29/03/2019
20180028
Project name
Promoter - financial intermediary
VEROD CAPITAL GROWTH FUND III
PRIVATE ENTITY(IES)
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
USD 14 million (EUR 12 million)
USD 150 million (EUR 128 million)
Location
Sector(s)
Description
Objectives

The operation consists of an equity participation in a closed-end private equity fund targeting investments in Small and Medium-sized Enterprises (SMEs) active in Anglophone West Africa, i.e. Nigeria, Ghana, Liberia, Sierra Leone and Gambia. The Fund is to be managed by Verod Capital Management and will have a generalist investment approach (i.e. sector agnostic).

This operation will improve competitiveness and access to finance at favourable conditions for SMEs in target countries.

Environmental aspects
Procurement

The fund's operational guidelines provide for environmental and social due diligence of investee companies, according to guidelines acceptable to the Bank.

Not applicable.

Comments

N/A

Related projects
Parent project
ACP&OCT GLOBAL AUTHORISATION VIII
Link to source
Summary sheet
VEROD CAPITAL GROWTH FUND III
Other links
Data sheet
VEROD CAPITAL GROWTH FUND III

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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