Tapping into the Growth of Sub-Saharan Africa
EXECUTIVE SUMMARY. 2026
FOCUS
Investing in
Sub-Saharan Africa
FOCUS
54CF is a growth equity firm dedicated to partnering and investing in thriving businesses across multiple sectors in
Sub-Saharan Africa
Mission
Our mission is simple: invest in companies with structural advantages, sustainable business models, clear path to improve profitability and cash flows and support their growth and expansion plans with our expertise and capital commitment
Target
We are targeting aggregate capital commitments of between $100 million and $200 million from qualified professional investors
Term
The term of the Fund will be 10 years and its primary goal will be to achieve a balance of capital appreciation and income generation, with medium-termannual target returns of 15% to 25%
Team
Our Management Team brings to bear significant emerging markets experience, diverse sector knowledge and deal expertise to help source attractive investment opportunities in the region and mitigate risks
CONTEXT
Unveiling Africa’s
Investment Potential
OPPORTUNITY
Despite abundant opportunities, Africa currently lacks reliable investment vehicles that enable swift and long-term capital deployment into new ventures
A Prime Investment Destination
ROBUST ECONOMIC GROWTH
ABUNDANCE OF NATURAL RESOURCES
RAPIDLY EXPANDING POPULATION AND MIDDLE CLASS
Growth
Africa, centrally positioned with global market access, has seen strong economic growth and rising FDI, driven by its natural resources, including major oil producers like Nigeria, Angola, and Algeria.
Free Trade
Backed by the African Continental Free Trade Area (AfCFTA) and a growing educated, connected middle class, Africa offers a uniquely compelling investment opportunity.
Target
While Africa has diverse strengths, Angola, Nigeria, Kenya, and South Africa are expanding beyond oil production, to sectors like financial services, tourism, renewable energy, infrastructure, agriculture, and manufacturing, creating diversified economies to serve the continent.
WHY AFRICA
A Unique Set of Growing Investment Opportunities
Our mission is to invest in Sub-Saharan Africa in countries that are politically and economically stable and in companies with:
STRUCTURAL ADVANTAGES
SUSTAINABLE BUSINESS MODELS
CLEAR PATH TO IMPROVE PROFITABILITY AND CASH FLOWS
And support their growth and expansion plans with our expertise and capital commitment
WHY SUB-SAHARAN AFRICA
Sub-Saharan Africa Offers Distinctive
Opportunities with Compelling Strengths
High Growth Potential:
Many economies in Sub-Saharan Africa are among the fastest-growing in the world.
Increasing Connectivity and Tech Adoption:
Digital connectivity and technology adoption is creating attractive opportunities for investments in fintech and telecommunications.
Demographic Advantage:
Young and rapidly growing population, contributing to a burgeoning workforce and an expanding consumer market.
Developmental Impact:
Investments in Sub-Saharan Africa contribute to job creation, infrastructure development, and economic growth.
Rising Urbanization:
Rapid urbanization is driving demand in real estate, infrastructure, and urban services.
Improving Business Environment:
Several countries in the region are implementing reforms to improve legal and regulatory frameworks and overall business and investment environment.
MARKET
Sub-Saharan Africa Key Statistics
Share of Urban Population grew annually by 0.53% in average for the last 10 years
“Urban population growth, triggered by both natural increase and migration, would thus translate into adding 40,000 new urban citizens every day until 2040” (World Bank 2013)
WHY 54CF
One-stop solution for sophisticated investors
Where we will invest
Fast growing sectors with scalable business models and potential for rapid expansion
Countries where we can leverage local expertise and partnerships for market insights and investment evaluation
ESG, Legal and Regulatory
The investment portfolio will balance risks and rewards and integrate ESG considerations and strict adherence to legal and regulatory requirements at every stage of the process
Greater upside, limited risk
54CF’s nimble investment size, experienced team and collaboration model will help it build a concentrated portfolio of investments providing greater upside with a limited risk profile in Sub-Saharan Africa
WHAT WE OFFER
Investment Vehicle Targeting
Capital-Scarce And Business Rich
Sub-Saharan Markets
54 CF FOCUSES ON:
Private investment opportunities
Capital appreciation on Financial Services,
Telecoms, Special Situations
Income generation through Real Estate and Hospitality
THE FUND OPERATES AS A LP/GP STRUCTURE
REGULATED OUT OF THE MENA REGION, GIVING ACCESS
TO GLOBAL CAPITAL
FOCUSING ON FAST GROWING BUSINESSES IN STABLE SUB-SAHARAN COUNTRIES
INITIALLY, FOCUSING ON A HEALTHY PIPELINE OF MIXED INCOME AND CAPITAL GROWTH PROJECTS
54 CAPITAL
Target Selection
Assets Stage
Focus will be on investments in private companies at expansion, mature, Pre-IPO, and Exit stages
Fund Positions
Targeting 10-15 investments and ticket sizes in the range of $5 million to $25 million per investment
Geographic and Sector Focus
Multiple sectors in Sub-Saharan Africa
Holding Period
Timeframe for investments will be medium-term (5 to 10 years), aligning asset selection and turnover rates with this horizon
Capital Commitments
$100 million and $200 million from qualified professional investors with a minimum ticket size of $250 thousand
Fund Economics
Achieve a balance of capital appreciation and income generation, with medium term annual target returns of 15% to 25%
PIPELINE OVERVIEW
Three Opportunities that Passed Initial Screening
Our proprietary pipeline includes three opportunities that passed our initial screening, fit with our investment strategy and thesis and are at various stages of due diligence and represent our initial core investment
Multi-Sector Retail
Acquire 10% of leading bank
with 2.3 million customers
5* Hotel and Residences
Acquire up to 16% of 5-star,
250 key hotel & 60 luxury residents
Multi-Sector Retail
Acquire a stake in a modern
Waterside Urban development
54 CAPITAL FUND
Objectives
Raise
Target fund raise of between $100 million and $200 million for initial raise
Return
The target returns of fund will be 15-25% IRR
Mix of capital appreciation and income
Hurdle rate of 15%
Time
5-7 years investment time horizon
Dividends paid as arising
Term of the Fund will be 10 years
Risk
Private Equity investments are long-term
There can be significant liquidity risk, as
capital is locked in for the duration
Country specific risk may apply to investments
54 CAPITAL FUND
Key Terms and Timeline
| Fund | 54 Capital Fund IA LP |
| Fund Manager | ADS Investment Solutions Limited, licensed by the FSRA |
| GP | 54 Capital Fund IA LP |
| Target | $100 = $200 million |
| GP Commitment | TBC |
| Investment Period | 5 to 7 Years |
| Fund Life/Term | 10 years |
| Management Fee | 2.5% |
| Carried Interest | 25.0% |
| Return Hurdle | 15.0% |
| Fee Offsets | No |
| Clawback | Yes |
| Key Person Clause | No |
| No Fault Termination Clause | With majority vote |
| Co-investment | Yes, fee waiver or reduction at discretion of manager |
| Technical Adviser | 54 Corp Ltd |
| Service Providers | Apex: Administrators Crowe: Auditors |
LEADERSHIP
Investment Committee
EMERGING MARKETS EXPERIENCE
DIVERSE SECTOR KNOWLEDGE
DEAL EXPERTISE
N’Gunu Tiny
N’Gunu heads up a diversified investment group with a global focus, and a specialism in Africa. He is an experienced business specialist in multiple sectors including media, real estate, natural resources and financial services.
Khalid Al Amiri
Khalid is an Emirati who has over 3 decades of banking experience with both international and regional banks in the Middle East and North Africa. Specialties include trade and investments.
Mark Friedenthal
Mark is Senior Executive Officer at ADS Investment Solutions Limited, and has nearly 3 decades of experience as an executive leader and investment professional, with the last 20 years based in the UAE. He has a strong track record in building and leading successful teams across wealth management, asset management, and private banking, both in South Africa and the UAE.
Office 1010, Level 10, Al Khatem Tower 4,
Abu Dhabi Global Market Square,
Al Maryah Island, P.O. Box 764618, Abu Dhabi, U.A.E
NOTICE
General Risk Warnings
All investments involve risk, including the possible loss of capital. This section provides a summary of certain general and investment-specific risks that may be relevant and does not purport to describe all risks. Investors should review the Fund’s Private Placement Memorandum (“PPM”) for additional information.
TIMING RISK
Timing risk refers to the risk of price falls in markets shortly after the purchase of an investment or conversely the risk of price rises in markets shortly after investments are sold. Although execution decisions are based on various factors, all transactions are subject to timing risk.
POLITICAL RISK
There is a risk that your investments could be adversely impacted by political factors. These could include changes to domestic and international political parties, legislative changes (such as the treatment of taxation) or change in government policy.
SECTOR RISK
Sector risks include but are not limited to demand for the type of product or service a company produces or provides, commodity prices, the economic cycle of industry, shifts in consumer demands, lifestyle changes or advances in technology. If your investments are focused in one sector, your investment can become subject to significant negative impact due to negative outlook or conditions in that sector.
CURRENCY RISK
Investments denominated in a currency other than your primary currency or if you undertake transactions on foreign markets, which include the financial markets of developing countries (Emerging Markets), may expose you to greater risks caused by fluctuations in foreign exchange rates. This can adversely affect the value of your return and the value of your investment. Investments in emerging markets are exposed to additional risks, including accelerated inflation, exchange rate fluctuations, adverse repatriation laws and fiscal measures, and macroeconomic and political factors.
LIQUIDITY RISK
There may be difficulty in selling an investment caused by a number of factors, including but not limited to insolvency of the investment, adverse stock market conditions, selling restrictions placed on funds by their managers (sometimes referred to as gating, lockups, notice periods or suspension of redemptions). In these circumstances you may not be able to sell such investments in a timely manner and the value of those investments may fall significantly.
INSOLVENCY
Our insolvency or default, or that of any other broker or third party involved with your transaction, may lead to positions being liquidated or closed out without your consent. In certain circumstances, you may not get back the actual assets which you lodged as collateral and you may have to accept any available payments in cash.
COUNTERPARTY RISK
This risk is that a counterparty to a given agreement may not meet its contractual obligations. Obviously, this risk can be managed by choosing to deal with counterparties with superior risk profiles but we can not independently verify the risk of dealing with those counterparties nor can we guarantee their performance.
NOTICE
Presentation was Prepared by 54 Capital Fund IA, LP(“54CF”) for Informational Purposes Only
Although the information contained in this document has been obtained from sources that 54 Capital Fund IA, LP (the “Fund”) believes to be reliable, it has not been independently verified. Neither the Fund nor its Fund Manager makes any representation or warranty, express or implied, as to the accuracy, completeness, or reliability of the information contained herein. Past performance is not indicative of future results, and all investments involve significant risks, including the potential loss of capital.
This document is not intended as a public offering. Interests in the Fund are available only to Professional Clients, as defined under the Fund Rules of the Financial Services Regulatory Authority (“FSRA”). This document is provided solely for informational purposes and does not constitute investment advice, an offer, or a recommendation to invest. Recipients should obtain independent professional advice regarding the suitability and risks of any investment referred to herein.
This document is strictly confidential and may not be reproduced, distributed, or disclosed without the prior written consent of the Fund. Recipients agree to maintain the confidentiality of this presentation and not to disclose any information without the Fund’s prior written consent.
Opinions expressed herein reflect the judgment of the Fund as of the date of this presentation and may change without notice if the Fund becomes aware of any information, whether specific to the Fund’s operations or of a general nature, that may materially affect such opinions. Neither the Fund nor its Fund Manager is responsible for any consequences arising from reliance on any opinion, statement, or omission contained herein.
The Fund, the General Partner (54 Capital GP Holding LTD), the Technical Advisor (54 Corp Ltd) and the Fund Manager (ADS Investment Solutions Limited) and affiliated entities may receive management and advisory fees, and conflicts will be managed in accordance with the Fund’s constitutional documents and FSRA rules. Further details on conflicts of interest are included in the Fund’s Private Placement Memorandum (“PPM”).
NOTICE
This Presentation was Prepared by 54 Capital Fund IA, LP(“54CF”) for Informational Purposes Only
54 Capital Fund IA, LP (“54CF” or the “Fund”) is a Limited Partnership established under the laws of the Abu Dhabi Global Market (“ADGM”) and classed as an Exempt Fund under the regulations of the ADGM Financial Services Regulatory Authority (“FSRA”). The Fund is registered with the ADGM Registration Authority (No. XXXXXXX) and has its principal place of business at Office 1010, Level 10, Al Khatem Tower, Abu Dhabi Global Market Square, Al Maryah Island, Abu Dhabi, United Arab Emirates.
The Fund and ADS Investment Solutions Ltd (the “Fund Manager”) make no representation or warranty of any kind, express, implied, or statutory, regarding this document or any information contained or referred to herein (including any market data or statistical information). All opinions, news, analyses, prices, or other information contained in this document are provided for general market commentary and discussion purposes only. This information has been prepared without regard to the specific investment objectives, financial situation, or particular needs (including deposit size, leverage, risk appetite, and risk exposure) of any person. Any reference to historical price movements or trends is provided for informational purposes only. Neither 54CF nor the Fund Manager makes any representation or warranty that such movements or trends will occur or continue in the future, and past performance is not necessarily indicative of future results. This document does not constitute, and should not be construed as, an offer to sell or a solicitation of an offer to buy any financial product, security, or instrument, or to enter into any transaction, nor does it constitute a recommendation to acquire or dispose of any investment. The information provided is not intended as investment advice and should not be relied upon as a basis for making any investment decision. Neither 54CF nor the Fund Manager accepts any liability whatsoever for any action taken or not taken in reliance on the information contained in this document. Recipients of this document should obtain independent professional advice regarding the appropriateness and risks of any investment, financial instrument, or strategy referred to herein.
ADS Investment Solutions Limited (“ADSI”) is a company registered in the ADGM and licensed by the FSRA as a Category 3C firm firm to carry on the regulated activities of Managing Assets and Managing Collective Investment Funds under Financial Services Permission number 170025. ADSI acts as the Fund Manager of 54 Capital Fund IA, LP, an Exempt Fund registered in the ADGM. The Fund referred to in this material is not subject to any form of regulation or approval by the FSRA, and the FSRA has no responsibility for reviewing or verifying any prospectus or document in connection with the Fund. This material is intended for distribution in or from the ADGM only to Professional Clients, as defined under the FSRA Conduct of Business Rules (COBS), and must not be delivered to, or relied upon by, Retail Clients. All investments involve risk. Prospective investors should refer to the Fund’s official offering documents before making any investment decision. This document is not intended for distribution to any person or in any jurisdiction where such distribution would be prohibited. Persons who come into possession of this material and have questions regarding the registration or authorisation of the Fund should contact the Fund Manager for further information. If you are uncertain about the Fund, its suitability, or the investment services described herein, you should seek advice from a qualified financial or other professional adviser.
All rights reserved. All copyrights subsisting in and arising from the materials, text, articles, and information contained herein are the property of 54CF, except where stated otherwise or sourced from third parties. No part of this document may be reproduced, redistributed, amended, modified, adapted, transmitted, or translated in any form or by any means without the prior written consent of 54CF and, where applicable, the relevant third-party rights holder.