Yemi Lalude joins TPG Growth to lead Africa Team
London and San Francisco, 16 October, 2015 – TPG Growth, the global middle market and growth equity platform of private investment firm TPG, today announced the appointment of Yemi Lalude as Managing Partner, TPG Africa.
Mr. Lalude will oversee TPG Growth’s investments in Africa, coordinated through TPG/Satya, the partnership between TPG Growth and Satya Capital Limited that was launched in June. In addition to his Africa-specific role, Mr. Lalude will be a leader on emerging market investment activities in the Technology, Media and Telecommunications sector for TPG.
Mr. Lalude joins TPG from Adlevo Capital, a private equity fund founded on the belief that meaningful development in sub-Saharan Africa will be driven by the application of technology. Mr. Lalude founded Adlevo Capital in 2008 and, under his leadership, the firm has invested in some of the most successful technology companies in Africa, such as Interswitch and Paga. Previously, Mr. Lalude was a Principal at GGV Capital, a leading Silicon Valley-based venture capital firm focused on investments in the US and China. Before joining GGV Capital, Mr. Lalude held engineering, business development and product management positions at Hewlett-Packard and Siebel Systems.
Bill McGlashan, Founder and Managing Partner of TPG Growth, says: “We are delighted to have Yemi join the team. His deep experience investing across Africa, as well as his experience in the TMT space, is a great fit for TPG Growth. With Yemi and the TPG/Satya team, we have the expertise needed to help build Africa’s best businesses.”
Mr. Lalude says: “This role brings together two of my greatest passions – Africa and technology – at a time of unprecedented opportunity for entrepreneurs and consumers in emerging markets. I’m excited to be part of TPG Growth, and I look forward to working with colleagues across all TPG platforms and with our partners at Satya Capital.”
About TPG Growth
TPG Growth is the middle market and growth equity investment platform of TPG, the global private investment firm. With more than $7 billion in assets under management and committed capital, TPG Growth targets investments in a broad range of industries and geographies, with a significant focus on the U.S. and large, emerging markets such as China, India, Brazil and Southeast Asia. TPG Growth has the deep sector knowledge, operational resources and global experience to drive value creation and help companies reach their full potential. Backed by the resources of TPG, which has over $74 billion of assets under management, TPG Growth leverages the firm's sector teams, portfolio companies and network. TPG Growth's current and past investments represent a mix of disruptive and innovative companies across tech, retail and entertainment including Uber, Airbnb, Box, Domo, Beautycounter, Ride, Angie's Artisan Treats, Fender, SurveyMonkey, Evolution Media and STX Entertainment, among others. TPG Growth has offices in the United States, China, India and Singapore. For more information visit: www.tpggrowth.com
About Satya Capital Limited
Satya Capital is an independent investment firm focused on providing long-term growth capital to African businesses. The firm partners with entrepreneurs to build world-class companies with regional and pan-regional scope and has the flexibility to back investee companies during all stages of development – from expansion to post-IPO – because its permanent capital base enables it to hold investments without a fixed exit horizon. In particular, Satya will seed investment platforms with a view of creating evergreen holdings in its core sectors. The Satya team works closely with portfolio company management to build a foundation for future growth by developing internal systems, attracting management talent and leveraging its network of deep relationships across Africa. Satya targets investments of between $20m and $150m and invests in a broad range of sectors including: Consumer & Retail, Healthcare, TMT and Financial Services. The Satya team has a rich mix of financial, strategic and investment experience, as well as valuable direct operating experience, most notably through the establishment and growth of Celtel, a pan-African mobile operator. For more information, please visit: www.satyacapital.com
TPG/Satya is the partnership between TPG Growth and Satya Capital Limited launched in June 2015. TPG Satya brings together the global strength and resources of TPG with the expertise and relationships of Satya to identify and invest in African companies. It announced its first investment, in Ecoles Yassamine in Morocco, in September.