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300+ African Tech Startups Raised More Than US$1.1 Billion in 2021

On August 25, 2021, Africa Search Capital (ASC) announced the acquisition of a majority stake in Falcon Security Hub (Falcon). The transaction, which culminates a 12-month search process for ASC, is the first successful acquisition by a traditional Search Fund in Africa. Established in 2020 by Principal Yves Biyah and supported by various local and international Search Fund investors, ASC is an investment holding company designed to identify, acquire and operate a single business in West Africa over the long-term.  Founded in 2008 by entrepreneur Stephen Capraruolo, Falcon is a pioneering electronic security company in Cote d’Ivoire, with leading market positions in the remote monitoring of movable and immovable assets, using telematics and video surveillance technologies. Mr. Biyah, founder and Managing Partner of ASC stated: “Falcon is recognized as the market leader in electronic security in Cote d’Ivoire, integrating best-in-class global technologies to deliver tailor-made solutions that enable clients to reduce cost, increase productivity and improve safety. Stephen and his team have developed a compelling value proposition, a blue-chip client base, and an exceptional reputation. Together, we plan to scale current operations and accelerate the rollout of new solutions across new customer segments and geographies. Personally, I am honored to be taking over the company, humbled to preserve Stephen’s legacy, and excited to collaborate with the Falcon team on this next phase of growth.” Mr. Capraruolo, who retains a minority stake in Falcon, and will continue working with the company going forward, added: “For more than a decade now, I have grown Falcon from an idea into a commercial reality. Identifying an investor who is not only strategically aligned but also brings fresh ideas and energy to take Falcon forward and enhance my legacy, is a major milestone. Over the past few months, I have been impressed with Yves’ commercial acumen, investor network and strategic vision. I believe Falcon is in good hands, and I’m excited to see what we can do together in the coming years.” The transaction is not subject to any outstanding regulatory approvals or conditions precedent. Falcon will continue to operate and serve clients as usual, without disruption. This article was from a press release distributed by APO Group.  You can start earning money by becoming our Independent Reporter or Contributor. Contact us at [email protected]Want to read more about the Africa other media don’t usually focus on? Go to [https://downtownafrica.com/subscribe/]

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300+ African Tech Startups Raised More Than US$1.1 Billion in 2021