Private Equity

The firm’s Private Equity team has developed significant expertise in private equity fund structuring and investment transactions, dating back to our work with some of the domestic and foreign pioneers in this sector in Nigeria during the 1990s.  The members of the team bring a range of experience from their commercial, financing, tax, corporate advisory and restructuring practice areas to bear in their work for private equity clients.

In addition to providing full transactional support, the team advises on issues including the formation and establishment of funds; the development of tax-efficient investment structures; the tax liability of funds under Nigerian law; the corporate, regulatory and licensing issues relevant to funds investing and operating in Nigeria or dealing with Nigerians; the representation of investors in the purchase and sales of portfolio assets; and the provision of representation and support in dispute resolution involving the interests of fund managers in Nigeria.

Our clients include top-tier global, regional and local private equity funds and fund managers, institutional investors, financial organisations, international development institutions, banks, SMS fund managers, consortia of all of the above, and companies seeking private equity or venture capital.

The firm is an inaugural member of the Private Equity and Venture Capital Association of Nigeria (PEVCA) and is represented on the legal and regulatory councils of the Emerging Markets Private Equity Association (EMPEA) and the African Venture Capital Association (AVCA).  The team has also written extensively on regulatory issues, investments, and the regulation of private equity for publications such as the IFLR, the Asset Management Law Review and the Emerging Markets Private Equity Association (EMPEA) newsletter, among others.

Team Partners

Dan Agbor Senior Partner
Dan Agbor Senior Partner
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Folake Elias-Adebowale Partner
Folake Elias-Adebowale Partner
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Ozofu Ogiemudia Partner
Ozofu Ogiemudia Partner
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Great Oyiki
Great Oyiki Associate
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Etido David
Etido David Associate
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Recognition

“Best value for money law firm in Nigeria by a mile. You get world-class work done, on time without paying more than you would have if you had used other firms. Firm has a depth of partners across the African region that makes our acquisition easier. The quality of work from Udo Udoma has always been first class. The partners are extremely competent and customer service is great.” – IFLR1000, 2019/2020

“Udo Udoma & Belo-Osagie has proven to understand our need. In working on our legal matter, their lawyers have proven to be experts on the subject matter, the law and its application. Additionally, I am most impressed by the fact that they take feedback and criticism in good spirits and immediately make corrections in order to meet a client’s expectation.” – IFLR1000, 2019/2020

Deals

• Part of the team that advised Equinix (UK) Limited in connection with the acquisition of US $320 Million (100%) equity stake in MainOne Cable Company Limited;

• Part of the team that assisted with the merger of Carepoint Management with Carepoint Ojo and Carepoint Egbeda Hospital;

• Part of the team that advised First Bank of Nigeria Limited in connection with the financing of two gas infrastructure projects and

• Part of the team that is currently advising a top Nigerian Bank on Ten billion Naira LNG Project.

We are delighted to have advised on the Nigerian elements of Predictus SAS’ $42 Million Series-B Funding Round of neobank startup, FairMoney, which was led by Tiger Global. The advisory team was led by our @mamaimanaliya, and included @temmini.as, @dami.ady, @officially_bond, @iamujuude and @nonsoikegwu

Udo Udoma & Belo-Osagie’s market-leading, four partner-led private equity and venture capital practice has, for over 25 years, advised on, and facilitated, local and cross-border investment, fundraising and regulatory advocacy activities benefiting investors and small, medium and large scale businesses with strong growth and impact potential and a visionary outlook across diverse sectors in Nigeria and Africa, including the exponentially growing financial technology sector, working in collaboration with our specialist teams.

If you require assistance or would like more information about our specialist private equity and venture capital fund formation and transaction advisory practice please contact us at peteam@uubo.org. General enquiries and information about all of our diverse practice area offerings is also available at www.uubo.org or via email at uubo@uubo.org.

We are pleased to have advised the lead investor, SoftBank’s Vision Fund 2 on its participation in the US$400 million Series C Investment in Opay, one of Nigeria’s leading mobile payments companies.

The UUBO transaction advisory team was led by our Corporate, Private Equity and M&A teams partner, @latundeo with support from @temmini.as, a senior associate with the team. Other key team members included Managing Associate and Abuja office head, @amina_f_ibrahim, as well as associates, @pamelaskyes, @officially_bond and @tobechee_. The UUBO team worked with a cross-border group of advisers.

For more information about our private equity and venture capitalist transaction advisory practice, please email us at PETeam@uubo.org.

We are pleased to have advised AfricInvest, a leading Pan-African management platform, in connection with its acquisition of a minority stake in Royal Exchange General Insurance Company, one of the largest non-life insurance companies in Nigeria. The investment was made through AfricInvest’s private equity fund, Financial Inclusion Vehicle (“FIVE”), and follows the initial investment made by InsuResilience Investment Fund in 2019, which we are also proud to have advised on.

The UUBO transaction advisory team was led by our Private Equity and M&A teams partner, @xtinesij with support from @____faridah, a senior associate with the team. Other core team members include @dami.ady , @tobechee_ and Chris Oke. The UUBO team worked with a cross-border group of advisers.

For more information about our private equity and venture capitalist transaction advisory practice, please email us at PETeam@uubo.org.

Team advises lead investor on series A investment round in bamboo global INC

We are pleased to have advised on the Nigerian elements of a recent Series A investment round in Bamboo Global Inc (Bamboo), the parent company of Bamboo Systems Technology Limited.

Greycroft VC and Tiger Global LL.C co-led the financing round in the online investment business with participation from Motley Fool Ventures, Chrysalis Capital and key yCombinator CEO, Michael Seibel, among others.

This is expected to support plans to scale the business’s tech infrastructure, launch more products and expand access in new markets across Africa to global investment platforms.

UUBO’s multi-disciplinary Nigerian transaction advisory team was led by private equity and M&A teams partner, Folake Elias-Adebowale, and included Lisa Esamah, Bond Eke-Opara, Tobechi Nwokocha, Aanuoluwapo Odunaike, Godson Iwuozo, Precious David, Faith Oseghale, Daniel Adedigba and Ayomide Soretire.

For more information about UUBO, its teams and our full service offerings, including in Private Equity & Venture Capital, M&A, FinTech and Capital Markets, please contact us at uubo@uubo.org.

UUBO teams advises lead investor on Flutterwave series D funding round

We are pleased to have advised the lead investor, B Capital Global Growth Fund III, L.P on its participation in the US$250 million Series D Investment in Flutterwave, a leading technology company operating across Africa.

The UUBO transaction advisory team was led by our private equity and M&A team partner, Ozofu ‘Latunde Ogiemudia with support from Temiloluwa Okeowo (senior associate), Bond Eke-Opara, Etido David (both associates) and other members of our private equity, corporate, M&A and FinTech teams. The UUBO team worked with a cross-border group of advisers led by Goodwin Procter.

Flutterwave’s successful Series D fund raise follows its initial US$20 million Series A round of 2018, its US$35 million Series B round in 2019 and its US$170 million Series C round in 2021, and has resulted in a valuation of over US$3 billion making Flutterwave, currently, the highest valued African start-up.

Our transaction team was led by private equity partner, Folake Elias-Adebowale, with specialist input from #power and #finance team partners, Adeola Sunmola and Onyinye Okafor, and principal support from Tobechi Nwokocha, Godson Iwuozo and Aanu Odunaike.

For more information about UUBO’s #Private Equity, #M&A, #Energy, and other market-leading practice area offerings, please visit our website on www.uubo.org.

Udo Udoma & Belo-Osagie is pleased to have advised LeapFrog Investments on its strategic investment, with Tana Africa Capital, in Interswitch, one of Africa’s leading technology-driven companies focused on the digitisation of payments. The investment is expected to assist in supporting Interswitch’s drive to advance the payment ecosystem across Africa.

A portion of the investment has been acquired from existing shareholders, with Ignite Holdco Limited, made up of Helios Investment Partners and TA Associates, remaining the largest shareholder in the business following the transaction. More information about the transaction is available to read here:

https://leapfroginvest.com/press-releases/leapfrog-tana-africa-capital-invest-interswitch-financial-inclusion-fintech-africa/.

Our transaction team was led by private equity and M&A team partner, Folake Elias-Adebowale, with principal support from associates Bond Eke-Okpara, Aanu Odunaike and Precious David and additional support from Babatunde Olayinka, Pamela Onah, Dami Adedoyin and Chigor Weli-Igwe.

For more information about UUBO’s Private Equity, M&A, Energy, and other market-leading practice area offerings, please visit our website at www.uubo.org.

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