Agile Capital has acquired a significant stake in Averge Technologies. Averge Technologies is a provider of components such as DC power systems, energy, network optimization and turnkey solutions within the communications and energy sector. The shareholding will be shared between Agile Capital and the operating management which have strong intellectual property within the energy and telecommunications sector.
Agile Capital enjoys a diverse investment portfolio across multiple sectors as a key black-owned private equity player in the South African local market. The private equity firm was formed in 2016 following the management buy-out of Zico Capital and has a fund of R1 billion. The funds raised were mainly from First Rand Group (Limited Partner). The private equity firm has investments in SA Biomedical, G4S, Henkel, Provantage and the Innovation Group amongst a list of 15 companies. The stake acquired and the invested amount is still undisclosed.