The Rise Fund’s $200 Million Investment in Airtel Mobile Commerce BV

Latham & Watkins advised The Rise Fund on the deal.

The Rise Fund, the global impact investing platform of leading alternative investment firm TPG, executed a US$200 million investment in Airtel Mobile Commerce BV (AMC BV), a wholly owned subsidiary of Airtel Africa plc. AMC BV is currently the holding company for several of Airtel Africa’s mobile money operations; and is now intended to own and operate the mobile money businesses across all of Airtel Africa’s fourteen operating countries.

The transaction values Airtel Africa’s mobile money business at US$2.65 billion. The Rise Fund will hold a minority stake in AMC BV upon completion of the transaction, with Airtel Africa continuing to hold the remaining majority stake. The deal is subject to customary closing conditions including necessary regulatory filings and approvals, as required, and the inclusion of specified mobile money business assets and contracts into AMC BV.

The Latham team was led by London private equity partner Kem Ihenacho (Picture) with associates Laura Kichenside, Alice Drayton, and Warren Wellington. Advice on commercial arrangements and financial regulatory matters was provided by Christian McDermott and Stuart Davis, partners in the firm’s fintech group.

Involved fees earner: Stuart Davis – Latham & Watkins; Alice Drayton – Latham & Watkins; Kem Ihenacho – Latham & Watkins; Laura Kichenside – Latham & Watkins; Christian McDermott – Latham & Watkins; Warren Wellington – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: The Rise Fund;

Author: Federica Tiefenthaler