AVCA, TNP partnership to create network for investment promotion in Africa
The Africa Private Equity and Venture Capital Association, (AVCA) has partnered with The New Practice, (TNP), a commercial law firm to create a strong network platform to facilitate and promote private investment in Africa.
Speaking during its networking event in Lagos, Baba Alokolaro, managing partner, TNP said the firm was one of the few law firms in Nigeria working in the private equity space, adding that the law firm choose to partner with AVCA to host the event for the exchange of ideas.
“With this networking event, those seeking funding could find limited companies to fund them. It also gives fund managers opportunities to see prospective investee companies. We have professional advisers, investment banks, and audit firms amongst others.
“We have registered here 125 companies. AVCA has created a platform where its members have supported each other by finding portfolio companies to invest in, find general partners to fund or limited companies to get funding from and there have been success stories from the Nigerian side and generally in Africa,” Alokolaro said.
He disclosed that TNP is a member of AVCA and aside the annual conference conducted by AVCA, the association also host various countries in Africa by creating a networking event for their members, such as practitioners in the field and portfolio companies.
Abi Mustapha-Maduakor, Chief Operating Officer for Africa Private Equity and Venture Capital Association, (AVCA) said the association is the Pan African industry body that promotes private capital going into Africa.
“We are a member base organization that provides research for private equity industry, training for the industry and advocate on the behalf of the asset class of Africa and we also do networking.
“We do an annual conference that we move to different countries. We travel a lot and when we do so, we always convene the industry so that the private equity stakeholders can get a chance to connect and network as this is really important for the industry and this is the purpose why we are here today,” Maduakor said.
She explained that the association is partnering with TNP to organise the event, adding that the law firm is a long standing member of AVCA, supporting the association in all they do.
Speaking on the benefit of the event, she said, “After the event, I hope to see people connect. I hope to see professional service firms get business from private equity firm managers and I hope to see private equity firm managers get investments from local institutional investors. We try to connect the industry and we act as a bridge between the different stakeholders in the industry.”
Abiodun Odubola, a Consultant and Financial adviser who was also present at the event said the forum is an opportunity for him to meet with people in private equity.
“This is a networking opportunity to know more about private equity and get more contacts. I know that private equity is a big deal in Africa now. A lot of companies need equity to expand and private equity is becoming more important. It is a very important source of capital both in small and medium businesses,” Odubola added.
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