Private Equity Firm Secures $50M To Invest In African Sports And Entertainment
IFC, a member of the World Bank Group, and Proparco, a member of the World Bank Group, announced an equity investment of up to $50 million in Helios Sports and Entertainment (“HSEG”), an investment vehicle dedicated to sport, media and entertainment across Africa.
HSEG aims to foster a more dynamic sport and entertainment ecosystem in Africa by collaborating with its four partners: NBA Africa, The Malachite Group (Afro Nation), PFL Africa, and Zaria Group.
IFC and Proparco invest in African sport
The IFC commited $30 million of the equity investment, while Proparco committed up to $20 million, according to a press release. This investment will contribute to a broader effort to improve Africa’s creative industries sector, targeting crucial segments such as sports intellectual property rights, event management, infrastructure development, retail, and hospitality.
IFC, Proparco, and Helios will combine their capital, expertise, and regional networks to expand commercially viable models that will also improve capacity building and upskilling in the African sport and entertainment industry.
We are proud to anchor this investment and to signal to other investors that the sector is ready for long-term, strategic capital.” Makhtar Diop, IFC Managing Director, said.
About Helios Investment
The private equity firm has been focused on investing in Africa since 2004. Tope Lawani founded the company and currently serves as its managing partner.
Helios Sports & Entertainment Group’s portfolio includes NBA Africa, the regional affiliate of the US.based basketball organization; Professional Fighters League (PFL Africa), which is building a presence for MMA in African markets; Afro Nation (via a stake in The Malachite Group), a leading diaspora music festival platform; and Zaria Group, a hospitality and venue development company co-founded by Toronto Raptors president Masai Ujiri, as reported by Shoppe Black.
“We are constantly presented with attractive opportunities driven by Africa’s richness of talent and increasingly sought-after content,” he said. “We are excited to capitalize on HSEG’s unique market position to create economic value and genuine impact,” Lawani said in a public statement.
Image: Global Private Capital Association
