Zephyr Management, L.P. is a global emerging markets investment manager specializing in creation and management of highly focused private equity and marketable securities funds. The firm has active funds in India and East Africa. Zephyr Management has established an investment advisory arm. The firm assists investors in building diversified global portfolios across equity and fixed income solutions for their investments.
Zephyr Peacock (ZP) provides equity financing for fast-growing, early to growth-stage companies led by strong management teams in India. ZP has four target sectors: Fintech, Infratech, Advanced Manufacturing and Food Supply Chain.
Zephyr Acorn (ZA) provides equity financing and business support to innovative early-stage companies in East Africa. ZA focuses on technology-enabled start-ups that have the potential to scale across the continent and beyond.
Zephyr Investment Management builds global investment strategies to protect and grow purchasing power through core and satellite investments across equities, private markets, real estate, gold and thematic growth.
Zephyr Wealth Management (ZW) partners with individuals and families to manage and grow wealth through financial planning, investment management, retirement, estate and legacy planning, and tax optimization.
EVs in India are gaining market share due to lower costs of operations compared to Internal Combustion Engine (ICE) vehicles. The cost of charging an EV is significantly lower than the cost of filling a vehicle with gasoline. As EV adoption grows in India, the EV industry must ensure availability of raw materials and reduce the environmental impact of improper battery disposal. Currently, there is limited local availability of rare metals used in Li-ion manufacturing. BatX recycles and extracts rare metals from used EV batteries. These rare metals are used for manufacturing new EV batteries, reducing the need to mine for new battery manufacturing materials. BatX aims to support domestic manufacturing of Li-ion batteries and reduce India’s dependence on imports. The company exports part of the extracted black mass to battery manufacturers and other recycling companies overseas.
Only 2% of the sub-Saharan Africa society is insured against sickness and accidents. Most individuals do not have insurance because of a dearth of affordable options, leaving many people in the region without a safety net. Turaco is a micro-insurance company changing healthcare financing in emerging markets. The company offers simple, quality health, life, and accident insurance for urban and rural populations living on less than US$ 5 a day. Turaco collaborates with local firms and mobile lenders to offer accessible and affordable healthcare to underserved communities.
Turaco is a Zephyr Acorn portfolio company. Zephyr Acorn provides equity financing and business support to innovative early-stage companies in East Africa.
Distribution companies in India play a critical role in facilitating the supply chain of fast-moving consumer goods (FMCG). These companies tend to be local, subscale, and deficient in the use of technology, with a focus on high-volume retailers. Smaller retailers suffer from a lack of access to reliable supply chains which are dominated by traditional distribution companies. Ripplr, a tech- enabled logistics services provider and distributor of retail consumer products, addresses these issues by digitizing the ‘manufacturer to the retailer value chain.’ The company leverages data to manage demand and inventory for retailers and consumer brand manufacturers.
Ripplr is a Zephyr Peacock portfolio company. Zephyr Peacock provides equity financing for fast growing, early to growth stage companies in India.
In the 1990s, Africa lacked telecom infrastructure despite a huge demand for the service. International telecom companies were hesitant to invest in Africa due to perceived risks in the region. Celtel was founded in 1998 to provide low-cost telephony to populations of Africa. The company offered the largest contiguous GSM cellular network in terms of geographic coverage in sub-Saharan Africa. Celtel expanded much-needed connectivity to the most remote parts of Africa and provided connectivity to millions of people. The company launched the world’s first borderless telecom network in East Africa, One Network. In 2005, Celtel was acquired by the Kuwaiti telecom company. Later, the company was acquired by the Indian telecom giant Bharti Airtel and was rebranded as
Airtel.
Celtel (divested) was a portfolio company of Strategy: ZM Africa. The strategy made private equity investments in South Africa and the Southern African Development Community (SADC) region.
India has approximately 425,000 private schools, mostly affordable private schools (APS), that have a significant need for financing but struggle to raise funds from traditional banking channels. Varthana provides loans to affordable private schools and allied educational institutions who use the proceeds to expand their infrastructure, improve learning outcomes and increase student enrolment and retention.
Varthana (divested) was a Zephyr Peacock portfolio company. Zephyr Peacock provides provides equity financing for fast growing, early to growth stage companies in India.
Only a small fraction of people in Africa has health insurance mainly due to high premium costs. Many seek medical help only in acute illnesses, potentially putting themselves at risk of financial hardship because of prohibitive healthcare expenses. Antara Health strives to provide affordable, high-quality healthcare plans. Antara’s customers benefit from comprehensive health and financial protection, and personalized care coordination. Members can also access care providers across Kenya through the company’s partnership with hospital groups with the assurance of having a reliable partner in there and their loved ones’ healthcare journey. Zephyr Acorn has fully divested its stake in the company.
Antara is a Zephyr Acorn portfolio company. Zephyr Acorn provides equity financing and business support to innovative early-stage companies in East Africa.
There are close to two million international college students enrolled in U.S. and Canadian
universities. Access to educational loans is significantly limited for these students. Non-U.S. citizens
cannot secure U.S. Federal student loans and the private banks and lenders typically lend only to
students with a U.S. co-signer. MPower Financing has developed specialized underwriting from 1,200 branches across
36 African countries. The company is a leading independent regional banking group in West Africa
and Central Africa, serving wholesale and retail customers.
MPower is a Zephyr Peacock portfolio company. Zephyr Peacock provides provides equity financing for fast growing, early to growth stage companies in India.
During the 1980s, due to widespread instability and the collapse of most African economies, international banks withdrew from the continent. West Africa was left bankless. Ecobank is a home- grown bank that was founded in 1985 to provide reliable banking services in West Africa. Today, the Ecobank brand is synonymous with banking in Africa. Ecobank operates from 1,200 branches across 36 African countries. The company is a leading independent regional banking group in West Africa and Central Africa, serving wholesale and retail customers.
Ecobank (divested) was a portfolio company of Strategy: Pan-African Investment. The strategy made private equity investments across the African continent.
Many low-wage workers in Africa struggle to manage their finances, often spending their earnings quickly and taking small but frequent loans which become costly in the long run. Power Financial Wellness offers comprehensive financial services in Africa to help workers and companies with financial management. The company’s services include cash flow management, bill payment scheduling, budgeting tools, automated savings, credit assessment, and affordable insurance with extended coverage options. Power’s mobile app provides banking services, personal loans, insurance, and access to multiple investment tools.
Power is a Zephyr Acorn portfolio company. Zephyr Acorn provides equity financing and business support to innovative early-stage companies in East Africa.
AZA (formerly known as “BitPesa”) is a digital currency payments and trading company providing an international money transfer service to/from the US, Europe and China from/to African countries. AZA is currently operating in Kenya, Nigeria, Tanzania and Uganda and is expanding to several additional African countries. AZA provides international money transfer that is faster, cheaper and more secure than traditional options in the currency corridors in which the company operates. Zephyr Acorn has fully divested its stake in the company.
Aza is a Zephyr Acorn portfolio company. Zephyr Acorn provides equity financing and business support to innovative early-stage companies in East Africa.
Note: The portfolio companies showcased on this page are illustrative examples of the portfolio holdings for the various Zephyr Strategies.
