Swiss Investment Fund
for Emerging Markets

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Synergy Private Equity Fund

Nigeria and Ghana offer attractive growth prospects but face numerous development challenges; both countries score poorly on the UNDP’s Human Development Index. With an investment in Synergy, SIFEM will support SMEs across a number of sectors. Investing in capital-constrained SMEs contributes to private sector development and has significant effects on the creation of local jobs, revenue and income. In both countries a large part of the population is engaged in informal employment. The Fund will create formal jobs which offer better working conditions to employees and also serve to increase governments’ revenues through tax receipts.

Synergy Private Equity Fund

Nigeria and Ghana offer attractive growth prospects but face numerous development challenges; both countries score poorly on the UNDP’s Human Development Index. With an investment in Synergy, SIFEM will support SMEs across a number of sectors. Investing in capital-constrained SMEs contributes to private sector development and has significant effects on the creation of local jobs, revenue and income. In both countries a large part of the population is engaged in informal employment. The Fund will create formal jobs which offer better working conditions to employees and also serve to increase governments’ revenues through tax receipts.

About the fund

The Fund is the first to be managed by the investment team of Synergy Managers, a private equity firm established in 2014 by Nigerian finance professionals. By supporting a first-time Fund promoted by local professionals, SIFEM supports the growth of the local financial sector.

With a focus on Nigeria (up to 75%) and Ghana (at least 25%), the Fund has a target size of USD 75m and will focus on a number of promising sectors, including agricultural processing, consumer products, power, IT, manufacturing and non-bank financial services, amongst others.

Investments by the fund

             
Date Name Country Industry Status
2016 Company 1 Nigeria Transportation and storage Active
2017 Company 2 Nigeria Software and computer services Active
2015 Company 3 Ghana Pharmaceuticals and biotech Active
2015 Company 4 Nigeria Software and computer services Active
2016 Company 5 Mauritius Other financial services Active
2016 Company 6 Nigeria Other consumer services Active
2015 Company 7 Nigeria Transport and packaging equipment Active
2016 Company 8 Nigeria Communications Active
2016 Company 9 Ghana Food products and beverages Active
2015 Company 10 Nigeria Conventional energy production and supply Active
Reference code
2014-03
Status
Active
Date of commmitment
September 2014
Date of exit
-
Fund size
USD
75,000,000
SIFEM commitment
USD
7,500,000
Asset class
Private Equity
Investment strategy
Investment through Fund
Fund manager
Synergy Managers