CDC Group

CDC Group is the UK's development finance institution, wholly owned by the UK government through the Foreign, Commonwealth and Development Office. Based in London, it invests patient, flexible capital to support private sector growth in Africa and South Asia, aiming to create jobs and drive economic development in the world's poorest regions. CDC operates through Growth and Catalyst portfolios, providing direct equity, debt, and intermediated equity investments, typically in sectors like financial services, infrastructure, and agriculture. From October 2017 to March 2022, CDC committed $330 million across six funding rounds in Africa, focusing on fintech (four investments), agritech (one), and e-commerce & retail (one). It targeted venture (unspecified), Series B, Series C, and debt stages, with a geographic emphasis on Kenya (four rounds), Nigeria (one), and South Africa (one). Key investments included M-KOPA in Kenya ($75M venture, $10M venture, $80M debt), Apollo Agriculture in Kenya ($40M Series B), TradeDepot in Nigeria ($55M Series B), and Onafriq in South Africa ($70M Series C). CDC frequently co-invested with partners such as Endeavor Catalyst, LGT Venture Philanthropy, and Generation Investment Management, leveraging its position to mobilize additional private capital.