Progression Capital Africa Ltd
AUM : $40 million
Progression Capital Africa Ltd is a venture capital and private equity firm specializing in investments in start-ups, early-stage, and mature companies in Fintech sector.
The firm makes direct and indirect investments. The firm primarily invests in Eastern and Southern Africa with a focus on Kenya, Uganda, Tanzania, Rwanda, and Zambia but also considers Ethiopia, South Sudan, Malawi, and Zimbabwe. It primarily makes an investment between $2 million and $8 million per investee.
The firm makes an initial investment amount of minimum $0.5 million. The firm makes common equity and quasi equity investments, including but not limited to convertible debt and convertible preferred stock, with or without redemption and/or participation rights.
The firm prefers to take significant minority stakes, with associated minority shareholder protection rights. It prefers to take full board participation rights. Progression Capital Africa Ltd is based in Nairobi, Kenya with an additional office in Port Louis, Mauritius.
Areas of expertise
The firm typically invests in financial inclusion companies with a focus on MSME-focused commercial banks as well as providers of specialized agri-finance, leasing, factoring and/or mortgage finance solutions, and financial technology companies including but not limited to mobile payment platform solutions, banking infrastructure solutions providers, alternative service delivery channels as well as insurance companies and micro finance, micro-insurance, mobile banking, low cost housing, and other support services.
