Injaro's Cape Verdean Subsidiary Invests in M&J Tech

March 18, 2024

Accra, March 18, 2024 - Investment Capital Partners ("ICP"), a subsidiary of Injaro Investments ("Injaro"), is pleased to announce the successful completion of its first investment in Cabo Verde through the Pro Impacto Fund. The investment was made in M&J Tech, ("M&J Tech"), which was founded in 2018 by two young Cabo Verdeans, with a vision of becoming the preferred supplier of consumer electronic and home white goods. The company is a licensed distributor of SAMSUNG products in the country.

Jacqueline Carvalho, the Director of M&J Tech, stated: "We are happy about the possibilities this collaboration brings. With Injaro's experience in nurturing small businesses such as ours, we are confident that we will be up to the challenge of distributing through the nine islands of our country and also have a footprint in a couple of West African countries close to us".

"The investment will enable M&J Tech to expand its territorial network, improve inventory management and to achieve higher profitability. We continue to build our pipeline with the aim of investing in more SMEs to support Cabo Verde's post-COVID recovery effort." commented João Carlos Silva, Country manager of ICP.

Jerry Parkes, CEO of Injaro Investments added "M&J Tech represents our first investment in Lusophone Africa and the Pro Impacto Fund. We greatly appreciate the productive collaboration with the government of Cabo Verde in this venture and look forward to building upon this platform to extend our investment activities both in Cabo Verde and into other parts of Lusophone Africa. Congratulations to Jacqueline and her team for a great job bringing M&J Tech this far."

About Pro-Impacto Fund:
Pro Impacto Fund is a Cabo Verde based and focused program, funded in 2023 by Pro Capital, a local investor and USAID and managed by Investment Capital Partners (ICP), the local subsidiary of Injaro. The fund invests for impact in critical economic sectors such as fishery, financial inclusion, education, healthcare, climate and energy in the Cape Verdean archipelago.

About Injaro Investments:
Injaro Investments Limited (Injaro), is a fund manager that aims to build sustainable African Businesses that create social and economic value for our investors and partners. Injaro manages over USD 100M across various funds and has investments across Sub-Saharan Africa.
The team comprises professionals with expertise in the areas of private equity, corporate finance advisory, asset management, management consulting and project management.