Alitheia IDF invests $5m in South African textile maker

BREAKING NEWSOctober 20, 2023 at 11:01 AM UTC

Alitheia IDF, a gender-focused private equity fund in Africa, has made a $5 million investment in Ivili Group, a South African textile company. With a total capital of $102 million, Alitheia IDF was co-founded by South African Polo Leteka and Tokunboh Ishmael from Nigeria.

This investment in Ivili Group aligns with the firm's investment strategy, which centers on building a diversified portfolio of small to medium enterprises (SMEs) that are either women-owned, women-led, or women-serving.

Polo Leteka, one of the co-founders, emphasized their unique position as the first private equity fund manager in Africa to prioritize growth-stage companies with gender-diverse teams throughout their business value chain. Their goal is to enable these companies to scale regionally and drive both economic and social transformation.

Key Takeaways

In Africa, female entrepreneurs build as many small-to-medium-sized businesses as men, if not more. However, gender bias still makes it harder for them to access finance and grow their businesses. That highlights the importance of Alitheia’s IDF and its backing of Ivili. The Group comprises two key components: Ivili Loboya, recognized as one of Africa's few wool and cashmere processing facilities; and Ivilitex, a garment manufacturing factory. The company has set out to increase the production of locally-made apparel for the domestic retail industry, elevating the current share of 44% to a substantial 65% by the year 2030. Notably, the South African government has consistently recognized the clothing and textile sector as a strategic priority due to its potential to create labor-intensive manufacturing, support sustainable industrialization, foster low- and semi-skilled employment, and drive export growth.

Alitheia Capital

South Africa

Ivili Group

Venture Capital

Women in Africa

Textile