Five Ethiopian investment firms have come together to establish the Madeg Partnership, which aims to source investment opportunities on behalf of a Japanese venture capital (VC) firm.
The partners—Icon Solutions, Araya Venture Lab, Melela Partners, Pragma Capital, and Neftalem Consulting—are currently scouting for viable local companies and constructing a due diligence process that utilizes their collective expertise to pinpoint scalable local investments.
“We believed there was value in pooling our collective experience to assist investors in identifying investment opportunities and viable companies in Ethiopia, with a foundational understanding of the overall risks of the Ethiopian market, which we all comprehend well,” Amity Weiss, Managing Partner at Melela Partners, told Shega.
The team made contact with the potential investor, whose identity will be disclosed next week, at last year’s Enkopa Summit. “This investor, interested in Ethiopia, faced challenges in identifying suitable investment opportunities independently. We saw an opportunity to bridge this gap and facilitate a connection,” added Amity.
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