Top Private Equity Firms in Nigeria

As Africa's largest economy and a powerhouse of entrepreneurship, Nigeria is a focal point for private equity (PE) investment on the continent. A vibrant mix of homegrown and pan-African firms are deploying capital to support growth across key sectors, from financial services and consumer goods to technology, energy, and logistics.

In this article, we’ll explore the top private equity firms in Nigeria, highlighting their investment focus, portfolio, and significant contributions to the nation's development. From growth equity to impact investing, these firms offer investment opportunities that are shaping the future of West Africa’s economy.

1. African Capital Alliance (ACA)

African Capital Alliance (ACA) is one of Nigeria’s oldest and most established private equity firms. Headquartered in Lagos and founded in 1997, ACA has played a pioneering role in institutionalizing PE in West Africa.

The firm manages multiple private equity funds and targets sectors like financial services, TMT, consumer goods, and energy. Known for strong governance and deep industry knowledge, ACA’s investments have helped Nigerian companies scale sustainably. A notable example is their investment in MTN Nigeria, which reflects their commitment to transformative growth.

2. Helios Investment Partners

Helios Investment Partners is a pan-African private equity firm with a strong presence in Nigeria. Known for executing high-impact deals, Helios targets sectors such as digital infrastructure, financial services, and energy.

The firm’s investment in Interswitch—Africa’s first fintech unicorn—is a hallmark of its growth equity strategy. Helios's capacity to structure complex, multi-country transactions positions it among the top institutional investors in Africa’s private equity landscape.

3. Verod Capital Management

Verod Capital Management is a Lagos-based private equity firm focused on mid-market companies in Anglophone West Africa. The firm invests in high-growth businesses across consumer goods, financial services, industrials, and agribusiness.

Verod supports portfolio companies with both financial and operational expertise. Key investments include CSCS Plc and Rotoprint. Their strong local focus and hands-on approach make them a trusted partner for sustainable growth in Nigeria’s mid-market space.

4. Development Partners International (DPI)

Development Partners International (DPI) is a London-headquartered private equity firm with a pan-African focus and deep ties to Nigeria. The firm invests in scalable businesses targeting Africa’s growing middle class, with sector interests in healthcare, financial services, consumer goods, and TMT.

DPI emphasizes ESG integration and impact-focused investing. A landmark Nigerian deal was its investment in Mansard Insurance (now AXA Mansard), demonstrating its ability to back local champions and guide them to global standards.

5. Alitheia Capital

Alitheia Capital is a women-led impact investment firm headquartered in Lagos. Through its Alitheia IDF fund, the firm channels gender-lens capital into SMEs across sectors like agribusiness, healthcare, and financial services.

Alitheia is committed to empowering women-led businesses and promoting inclusive growth. Their investments generate both financial returns and measurable social impact—transforming the traditional private equity model in Africa.

6. CardinalStone Capital Advisers (CCA)

CardinalStone Capital Advisers (CCA) is a Lagos-based private equity firm investing in high-growth SMEs in Nigeria and Ghana. The firm focuses on consumer goods, healthcare, and industrials, offering growth capital and strategic guidance.

CCA’s standout investment in i-Fitness—Nigeria’s largest gym chain—illustrates its value-creation strategy. By helping formalize SME operations, CCA strengthens the backbone of Nigeria’s economy.

Let’s Recap

Nigeria is home to a dynamic ecosystem of private equity firms that are fueling economic transformation across key sectors. These top-tier investors combine local expertise with global best practices to unlock growth, drive innovation, and build market leaders.

If you’re a founder or business leader in Nigeria seeking growth capital, partnering with the right private equity firm can be a game-changer. Private Equity List helps you discover and connect with relevant firms tailored to your goals.

Join Private Equity List today to access Nigeria’s best PE firms and position your business for success.

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