Verod Capital Management

What Verod Capital Management does

Verod Capital Management is a Nigeria-headquartered private equity and venture capital investment firm founded in 2008 by Danladi Verheijen (CEO) and Eric Idiahi. The firm manages $364 million in assets under management across three funds and has executed more than 40 portfolio investments since inception, operating across Nigeria, Ghana, and Côte d'Ivoire. Verod invests across nine sectors: Consumer Staples, Consumer Discretionary, Financials, Materials, Industrials, Communication Services, Healthcare, Utilities, and Energy, with private equity ticket sizes ranging from US$15 million to US$30 million for established growth-stage businesses.

The firm operates a dual-platform model. Its core private equity arm targets mid-to-large West African businesses with growth potential, providing equity capital, strategic guidance, and operational support. Alongside this, Verod co-manages Verod-Kepple Africa Ventures, a venture capital fund that allocates between $250,000 and $7.5 million to early-stage technology startups in FinTech, Logistics, HealthTech, EdTech, and Software across the African continent. The firm has no proprietary technology platform; its value-add is financial capital, sector relationships, and operating expertise rather than technology infrastructure.

Verod generates revenue through conventional private equity economics: management fees on assets under management plus carried interest on successful portfolio exits. Notable portfolio companies include Moniepoint (FinTech unicorn), GZ Industries (aluminium can manufacturing), i-Fitness Nigeria (acquired 65% for $12 million in February 2024), Ison Xperiences, Metropolitan Life Insurance Nigeria, Tangerine Life, and Emzor Pharma. Verod holds the distinction of being the first PE fund worldwide to achieve 2X Certified 'Best-in-Class' status for gender-lens investing.

Name

Verod Capital Management

Legal name

Verod Capital Management

Website

https://verodgroup.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

Verod Capital Management is a Lagos-based private equity and venture capital firm founded in 2008, managing $364M AUM across three funds and over 40 portfolio investments in West Africa. It operates a dual platform: PE ($15M-$30M) and Verod-Kepple Africa Ventures ($250K-$7.5M) for African tech startups.

Ownership category

akta.pro rank

Product category

Private Equity & Venture Capital Investment Management

NAICS

All Other Financial Investment Activities (52399), Other Financial Investment Activities (5239)

SIC

Investment Advice (6282)

akta.pro primary industry

Corporate Venture Capital (CVC) (FSANAAAF)

akta.pro secondary industry

Joint Venture CVC / Consortium Funds (Multi-corporate) (FSANAHAE)

Keywords

• Private equity investment
• Venture capital funding
• Growth capital
• Sustainable investing
• Portfolio management

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Private Equity Fund Management: Verod generates revenue through traditional private equity mechanisms including management fees charged on assets under management and carried interest (performance fees) from successful portfolio company exits. The firm manages AUM of $364 million across three funds.

Go-to-market motion1 record

Distribution channels1 record

Core offering

Verod Capital Management is a private equity and venture capital firm that invests equity capital in West African businesses across multiple sectors. Through its PE fund it deploys US$15 million to US$30 million per deal in established companies, while through its Verod-Kepple Africa Ventures arm it invests US$250,000 to US$7.5 million in early-stage African tech startups. The firm manages $364 million in assets under management across three funds and has executed more than 40 investments since its 2008 founding.

Product overview

Verod Capital Management is a leading African private equity and venture capital investment firm operating through two distinct arms: its core Private Equity division backing established businesses across multiple sectors (Consumer Staples, Consumer Discretionary, Financials, Materials, Industrials, Communication Services, Healthcare, Utilities, Energy) with investments of $15-30 million, and its Verod-Kepple Africa Ventures subsidiary focused on early-stage tech startups in FinTech, Logistics, HealthTech, EdTech, and Software with ticket sizes of $250,000-$7.5 million. The firm manages $364 million in assets under management across three funds and has made over 40 investments since 2008.

Differentiator

Problem solved

Functional benefit

Products and services

• Private Equity Fund Management Equity capital deployment into established West African operating companies with growth potential, with individual investment tickets ranging from US$15 million to US$30 million across sectors including consumer staples, consumer discretionary, financials, materials, industrials, communication services, healthcare, utilities, and energy. The PE arm provides growth capital, strategic guidance, and operational support to portfolio companies to enable regional expansion, facility build-out, and job creation.
• Verod-Kepple Africa Ventures Venture capital fund co-managed by Verod and Kepple Africa Ventures that invests in early-stage technology startups across the African continent, allocating between US$250,000 and US$7.5 million per company within FinTech, Logistics, HealthTech, EdTech, and Software sectors. The fund provides early-stage capital, strategic guidance, and follow-on participation in subsequent funding rounds.

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Actis: Emerging-markets private equity firm with one of the longest-standing Africa platforms. Actis competes with Verod for mid-market West African consumer and infrastructure deals and operates at overlapping check sizes.
• SPE Capital: Africa-focused private equity manager with mandates targeting North and Sub-Saharan African mid-market companies. Comparable in fund size, sector diversification, and DFI-style LP base to Verod.
• Helios Investment Partners: Pan-African private equity firm with comparable AUM scale and a multi-sector, multi-country Africa mandate. Helios is one of the closest direct comparables for Verod in terms of fund size, sector breadth, and West/East Africa geographic coverage.
• Lightrock: Global impact-led growth investor that co-invested with Verod in Moniepoint. Lightrock shares Verod's ESG/gender-lens orientation and participates in the same African growth-stage rounds, making it a direct peer for impact-aligned LP capital.
• African Capital Alliance (ACA): Nigeria-headquartered private equity firm targeting West African mid-market companies with growth capital. ACA is among the most locally comparable peers, sharing Verod's Nigeria base, sector mix, and deal-size range.
• TLcom Capital: Africa-focused venture capital firm with a mandate overlapping Verod-Kepple's, investing in early-stage African tech across fintech, logistics, and enterprise software. Direct peer for venture deal flow and LP capital.
• Development Partners International (DPI): Africa-focused PE firm that led Moniepoint's Series C alongside Verod. DPI operates a similar multi-sector Africa mandate with comparable fund sizes and is a direct co-investor and competitor for African growth-stage deals.
• CardinalStone Capital Advisers: Nigeria-based investment firm that previously held the i-Fitness stake Verod acquired for $12M in 2024. CardinalStone is a direct private-market peer operating in the same Nigerian mid-market space and has acted as both seller and competitor for similar assets.
• 8 Miles (Eight Miles): Pan-African private equity firm backed by Standard Bank and Old Mutual that invests in mid-to-large African businesses. 8 Miles competes with Verod for similar consumer and financial-services assets in Nigeria and other West African markets.

Emerging players

• Novastar Ventures: Africa-focused early-stage VC with a thesis on consumer-included African businesses. Partially overlapping with Verod-Kepple's venture mandate and a co-investor in the broader African tech ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/verod-capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments15 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Verod Capital Management