Fonds Cauris Croissance II invests in Vipnet

FONDS CAURIS CROISSANCE II LIMITED, advised by Cauris Management, the West African fund manager agreed to invest €4.6 million in VIPNET to fund its expansion plan and increase its network coverage. Founded in 1999, VIPNET is a Cote d’Ivoire-based company which provides interconnection, data transmission, internet and alternative telephony services mainly to SMEs. There is increasing demand for data transmission, high-speed wireless communication and internet services across the region and the company plans to tap into new opportunities that arise with the arrival of broadband internet via submarine cables. Commenting on this new investment, Mr. Ahmed Chérif, CEO of VIPNET said: “Fonds Cauris Croissance II investment is a major milestone in the life of VIPNET, as it provides huge opportunities for growth. This funding will allow us to implement our ambitious projects, including the increase of the network coverage with the latest technologies. The company will also be able to offer a range of innovative internet products and services developed from a reliable infrastructure, which can meet customers’ expectations in terms of quality”. “This partnership with VIPNET is an opportunity for Cauris to support a young and key player operating in niche markets, with a strong aspiration to offer high quality services to the market. This partnership also demonstrates Cauris’ willingness to support the company in offering alternative data transmission products and bridging the digital divide, through a widespread use of broadband internet services” notes Mr. Noël Yawo Eklo, CEO of Cauris Management. About Cauris Management Cauris Management is a private equity fund manager that has been investing in West African SMEs for over 15 years. Cauris Management backed 45 companies and completed 35 exits during that period. The portfolio included sectors as diverse as agribusiness, financial services, hospitality, ICT, consumer goods, and downstream oil and gas. Cauris Management operates from Lomé and Abidjan.