Lorax makes first investment for second fund

Image Credit: Pixabay

Fresh from holding its first close for its second fund a couple of months ago, Lorax Capital Partners has struck its first deal for its second fund, LCP Fund II. The Cairo-based private equity firm is investing an undisclosed amount of capital to take a significant minority stake in DSQ Group which sells loyalty and rewards solutions to a base of local and international clients. As part of the round, existing investor Algebra Ventures invested more capital in the firm. Lorax gets a seat on the company’s board.

While the investment is primarily made up of a capital increase to support DSQ’s growth plans, part of the funding is being used to buy fellow-Egyptian private equity firm Ezdehar Management’s minority stake in the business, giving them an exit.

To read this article, you must be a paid subscription member. (Current members login here)

\"\"

Reserve your digital subscription today

Join now for $35 per month

Join now for $395 per year

for access to:

  • Weekly newsletter with original and curated news, analysis and perspective
  • Africa’s private capital deals, fund raises and the investment firms and executives involved
  • Portfolio company news that impacts value and stakeholder participation
  • Job moves and partnerships between leading market participants
  • Exclusive access to Africa Capital Digest’s full content archive

If you’d like more information on exceptional value group subscriptions for your colleagues and teams, please contact Teresa Hall at thall[at]africacapitaldigest.com today.