Fundraising

According to figures presented at the AVCA’s annual conference in Mombasa earlier this week, VCs active in Africa invested $1.3bn last year, up 60% on 2003.

As more and more generalist firms target its space, San Francisco’s Energy Investors Funds strengthened its toehold in the power sector, closing on $750 million for its latest fund.

The Norwegian venture firm has raised $125 million to invest in secondary direct transactions.

A private equity arm of J O Hambro Capital Management has held a final closing of its second buyout fund focused on investments in UK smaller unquoted companies.

Abbott Capital Management held an $805m close on its fifth private equity fund of funds, surpassing a $750m target.

Chicago-based Lake Capital held an $800m close on its latest fund, representing a 60 percent increase over its inaugural, service-industry vehicle raised just three years earlier.

Boston-headquartered private equity firm Advent International has confirmed its intention to continue its Latin American investment activities, announcing today the final close on a new $375 million fund targeting the region.

The Central and Eastern Europe focused firm has fully divested its stake in the Slovakian mobile operator.

The investment bank will take on Australia’s Macquarie Bank in the increasingly popular area of infrastructure investments, according to press reports.

Former healthcare hands from Carlyle, Mount Everest and MPM have linked up to launch NGN Capital, a US-German venture fund that closed $100m above target.