News & Insights: 12/05/2024

ICYMI - Stonal raises $22m, appoints Robin Rivaton as CEO, NGX lists N4.075 billion Infrastructure fund, and New Forests appoints Managing Director for Africa

In today’s newsletter, Stonal, the European leader in property operations SaaS platforms, has secured a $22 million funding round led by RAISE Investissement to fuel its expansion. This investment aims to propel Stonal towards its goal of reaching a $100 million revenue milestone in the European real estate SaaS market by 2027. Robin Rivaton, a renowned VC investor and proptech expert, has joined the company as CEO.

In other news, Nigerian Exchange Limited (NGX) has listed N4.075 billion of AVA Infrastructure Series 1 Fund on its trading platform, according to sources familiar with the listing.

In a press release, signed by the Head of the Issuers Regulation Department of NGX, Godstime Iwenekhai stated that “trading license holders are hereby notified of the listing of AVA Global Asset Managers Limited’s AVA Infrastructure Series 1 Fund of 4,075 units of N1 million each issued at par under the N200 billion issuance programme.

And finally, New Forests, a global investment manager of nature-based real assets and natural capital strategies, on Tuesday, announced the appointment of Yida Kemoli as Managing Director, Africa.