$100 million emerging market fund
Delta Partners Capital, an advisory and investment firm, has announced the first $100 million closing of its emerging markets technology, media, telecommunications (TMT) Growth Fund II.
First-close investors include the IFC (World Bank Group), NTT Docomo, and a number of leading family offices from Europe and the Middle East. NTT bought South African IT firm Dimension Data for $3.2 billion in 2010.
Delta Partners Group, as sponsor of the Fund, and its affiliates are making a capital commitment of $20m to the Fund.
The Fund is a 10-year Cayman-domiciled vehicle advised by a DFSA-regulated manager, and has a target size of $350 million and a hard cap of $500 million.
The Fund will invest in growth capital and selected buyout opportunities in the telecoms, media and related technology sectors across Africa, Central & Eastern Europe, the Middle East, and South-East Asia.
It will adhere to strict environmental, social, and governance standards while providing investors with the opportunity to participate in one of the most exciting sectors in some of the world’s fastest-growing economies.
Geoffrey Fink, managing partner and head of investments, said: “We are delighted to have met our first-close target and to have attracted a world-class group of institutional anchor investors to the Fund.
“We believe that given our depth of expertise in TMT and extensive on-the-ground presence across emerging markets we are uniquely positioned to identify and execute on attractive opportunities in this dynamic sector, and to provide tangible added value to our portfolio companies.”
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