Affirma Capital

We are proud to share that Affirma Capital has been awarded Portfolio Company of the Year (Innovation) at the 12th Private Equity Africa Awards 2024 for our investment in Copperbelt Energy Corporation Plc (“CEC”).    CEC owns, operates and maintains power transmission, generation and distribution assets servicing customers in Zambia and the DRC, and is one of the largest international power traders in the region. CEC has also been at the forefront of Zambia’s renewable energy transition, having completed the development of 94 MW of solar power plants in 2023/2024 and reducing its reliance on hydroelectric power, which is vulnerable to drought. The Company has another 156 MW in the pipeline which it plans to commission in 2025.   A big congratulations to our Affirma Capital Africa team—Ronald Tamale, Maruping Mangwedi, and Pirasath Parthipan—for their outstanding contributions! We are excited to continue supporting the next wave of transformative companies across Sub-Saharan Africa.   #RenewableEnergy #Sustainability #Innovation

Winston Mandrawa, CFA, Managing Director and Head of ASEAN at Affirma Capital, had the honor of speaking at the 16th Annual INSEAD Asian Private Equity & Venture Capital Conference on the topic of “Thriving in Asia’s Volatile Private Equity Landscape.”   Joined by Adam Watson, Partner and Co-Head of Asia Pacific at Partners Capital, Winston delved into the evolving landscape of private equity in Asia, discussing strategies for navigating investment opportunities and exits amid a turbulent global climate.   At Affirma Capital, with a strong, local presence in Asia across Korea, India, Southeast Asia, and China, our team remains agile and disciplined, continuously adapting to the shifting macroeconomic landscape. With over two decades of experience in the region, we maintain a steady focus on value-driven investment strategies and thoughtful exit routes.   It’s inspiring to witness the growing curiosity and enthusiasm among young professionals in Asia’s thriving private equity sector. We look forward to engaging in more conversations like this—sharing our insights and experiences with the next generation of private equity leaders.   INSEAD Private Equity Club (IPEC)

We are proud to share that our portfolio company Belstar Microfinance Limited has been awarded the prestigious Elaben Memorial Award for the Best Women-Friendly Financial Institution – 2024!

Affirma Capital is very pleased to announce the acquisition of a controlling stake in J Entec, the largest Korean landfill waste management operator in terms of its remaining capacity, at an equity value of ~USD 392 million (KRW 510 billion). This marks the first investment from Ascenta VI, Affirma Capital Manager Korea’s 6th buyout and growth fund which has raised USD 385 million (KRW 500 billion) to date and is now fully subscribed on its KRW sleeve. Affirma Capital Credit Solutions Korea has also raised a separate project fund for this investment in J Entec.   Congratulations to Taeyub Kim, Min Hyun (Thomas) Shim and the Affirma Capital Korea team on the successful fundraises and the acquisition of J Entec!   Ascenta VI remains open to international investors for its USD sleeve until December 2024. Please reach out to the team if you would like to learn more. 

Last week, Affirma Capital celebrated our Annual General Meeting 2024 and 5th year anniversary with our partners, friends, and global team.   We had the honour of hosting Rahul Bhatia, Founder and Group Managing Director of IndiGo (InterGlobe Aviation Ltd) / InterGlobe Enterprises, who shared his wisdom on building a national champion in India in an insightful fireside chat with our Founding Partner and CEO, Nainesh Jaisingh. Following that, Taeyub Kim, Founding Partner and Head of Korea and Udai Dhawan, Founding Partner and Head of India gave updates on the macro tailwinds benefitting Korea and India, as well as our performance and fundraising in those countries. Christine Angco, Executive Chairman of Paddington Enterprises also took to the stage to share the key developments in our leading preschool operator and the opportunities Southeast Asia presents. Our Founding Partner and COO, Ivo Philipps closed out the evening highlighting our commitment to ESG and the measurable impact our portfolio companies continue to make across various markets.   We would not have been able to accomplish our successes without the trust of our investors and portfolio companies. Now more than ever, we remain confident in our mission – to deliver the premier mid-market private equity platform in the emerging markets. See you at 10 years!

Affirma Capital is very pleased to announce the successful listing of Northern Arc Capital on the Indian stock exchanges.

Celebrating 5 years of Affirma Capital!

Affirma Capital’s Founding Partner and Head of India, Udai Dhawan, will be speaking at the Asia PE-VC Summit 2024 on the topic of “India hits a high note on exits: Will it bolster further PE activity?" Join industry leaders from across Asia for two days of in-depth discussions, insights, and networking opportunities at the DealStreetAsia event. Register here: https://lnkd.in/gdSi36PM

Udai Dhawan, Founding Partner and Head of India for Affirma Capital, was recently a speaker on a CNBC panel discussing ‘India's New Age Entrepreneurs Capturing Global Opportunities’. https://lnkd.in/evXGQzVu

Happy 5th Birthday Affirma Capital!   In the 5 years since Affirma Capital completed its spin-out from Standard Chartered we have continued to execute the highly successful mid-market strategy that we have developed over 2 decades. We currently manage assets aggregating 𝐔𝐒𝐃 𝟑.𝟖𝟓𝐁𝐧 and, despite the tumultuous macro environment since the spin-out, our platform has:   - 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐞𝐝 𝐔𝐒𝐃 𝟐.𝟒𝐛𝐧 to our investors from 𝟐𝟕 𝐞𝐱𝐢𝐭𝐬 - 𝐈𝐧𝐯𝐞𝐬𝐭𝐞𝐝 𝐔𝐒𝐃 𝟏.𝟏𝐛𝐧 𝐢𝐧 𝟐𝟎 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 across Asia, MENA and Africa - 𝐑𝐚𝐢𝐬𝐞𝐝 𝐔𝐒𝐃 𝟏.𝟖𝐛𝐧 of new capital from a wide range of institutional investors - Transformed businesses into national or regional champions and completed 𝟑𝟎 𝐛𝐨𝐥𝐭-𝐨𝐧 𝐚𝐜𝐪𝐮𝐢𝐬𝐢𝐭𝐢𝐨𝐧𝐬 - 𝐅𝐮𝐫𝐭𝐡𝐞𝐫 𝐝𝐞𝐯𝐞𝐥𝐨𝐩𝐞𝐝 𝐢𝐭𝐬 𝐄𝐒𝐆 𝐩𝐫𝐨𝐠𝐫𝐚𝐦𝐦𝐞, winning awards from investors and becoming a member of the United Nations Principles for Responsible Investment (𝐔𝐍𝐏𝐑𝐈) network    We would like to thank our investors, our investee companies, advisors, friends and well-wishers for supporting us to deliver these results. Above all, congratulations and thanks to the whole Affirma Capital team whose acumen, discipline and hard work have made this possible.   Founding Partners: Nainesh Jaisingh Taeyub Kim, Udai Dhawan, Ivo Philipps Taimoor Labib Ronald Tamale Gilbert Zeng  Partners: Min Hyun (Thomas) Shim Vijay Nallan Chakravarthi Managing Directors: Tariq Baareh, Vibhav Parikh, Uday Krishna, Winston Mandrawa, CFA , Cindy Wang, Rik Muilwijk