# Sango Capital

> Sango Capital is an investment management firm focused on delivering superior risk-adjusted returns from fund and direct investments in Africa.

Established in 2011, the firm invests capital for global investors including sovereign wealth fund, pension, endowment, foundation and family office clients. The firm's strategy combines international best practice skill sets with deep local networks and a dedicated, on-the-ground presence to unlock unique mid-market focused investment opportunities in Africa.

## Values

At the core of how Sango invests are three principles: trusted relationships, a growth-oriented path to delivering top quartile risk-adjusted returns, and a commitment to responsible investing that is consistent with compelling returns.

- **Returns**: As responsible investors, Sango seeks to generate strong financial returns; actively manage environmental, social and governance risks; and maximise impact and value creation for the societies and economies in which it operates.
- **Relationships**: Sango has built deep relationships with trusted counterparties across Africa. Its access and insight unlocks attractive opportunities for global investors.
- **Responsibility**: As responsible investors, Sango seeks to generate strong financial returns; actively manage environmental, social and governance risks; and maximise impact and value creation for the societies and economies in which it operates.

## What We Do

- **Market and industry selection**: Investments are sourced in countries and industries/themes with market conditions expected to generate robust returns and liquidity. Sango's investment strategy is responsive to the evolving and dynamic investment environment in different countries over time, however the investment themes that drive investment activity are centred around the emerging consumer's wallet, the food value chain, energy and power and infrastructure services.
- **Fund selection**: For each fund, Sango sources a set of mid-market funds on a primary and secondary basis, which together provide complementary and diversifying exposure to fast-growing businesses that can be acquired at attractive entry prices and which offer a high return potential. In addition, each fund gains selective exposure to a handful of tech-enabled growth funds.
- **Co-investment and direct investments**: Each fund makes a number of direct private equity investments, in most cases alongside trusted private equity investment partners.
- **Portfolio construction**: A thoughtful and intentional approach to portfolio construction gives each Sango fund diversified geographic and industry exposures, providing high expected returns while mitigating left-tail risk (risk of capital loss).

## Sango Special Equity Vehicle (SSEV)

- **Sourcing**: Investment flow is generated through deep relationships and networks in the African private equity ecosystem. Pipeline deals are typically generated from companies which Sango has had a chance to observe or invest in through other private equity portfolios.
- **Consumer focus**: The SSEV is expected to generate competitive returns through a lower cost structure than traditional private equity as well as by allowing for the compounding of capital over a longer period of time.
- **Long-term compounding of capital**: The SSEV focuses on businesses which are expected to benefit from long-term growth in African consumer spending.

## Africa Investment Thesis

- Africa has 1.2 billion people, median age 20 (600 million living in 143 cities spending $500 billion per year)
- Africa has the fastest mobile technology adoption rate globally
- Africa's business-to-business (B2B) spending is now $2.5 trillion per year
- Africa represents 5% of the global economy in purchasing power terms, but less than 0.5% of global PE capital raised
- Africa is leapfrogging traditional infrastructure constraints to growth in various sectors
- African companies are growing faster than other markets and offsetting currency depreciation

## Leadership

### Richard Okello - Co-Founder & Partner
Richard is a Co-Founder and Partner at Sango Capital and a member of the firm's Executive Committee. In addition to the management of the firm, Richard is responsible for capital formation and investing and managing Sango's portfolios of fund and direct investments. Prior to co-founding Sango, Richard was a Principal at Makena Capital, a large private endowment, and before that a Partner at Bridgewater Associates. Richard received an MBA Hons. from Pace University and a BA (Honors Program) Economics & Public Policy from Swarthmore College.

### Charles Mwebeiha - Co-Founder & Partner
Charles is a Co-Founder and Partner at Sango Capital, and a member of the firm's Executive Committee. In addition to the management of the firm, Charles is responsible for investing and managing Sango's portfolios of fund and direct investments. Prior to co-founding Sango, Charles was a principal and Chief Risk Officer at Destiny Corporation and a partner at Edward Nathan Sonnenbergs. Charles received an LL.M with distinction from the University of Pretoria/University of Amsterdam and an LL.B from Makerere University.

### Jonathan Sengendo - Managing Director & Partner
Jonathan is a Managing Director and Partner at Sango Capital and a member of the firm's Executive Committee. Jonathan is responsible for originating, structuring, negotiating, closing and exiting investment transactions. In addition, Jonathan manages the firm's investment and portfolio management teams and leads the firm's internal Management Committee. Prior to joining Sango, Jonathan was an Executive Director at Goldman Sachs' Special Situations Group (London) and an Associate at Moelis & Company. Jonathan earned his Meng and BA Honours in Aerospace & Aerothermal Engineering from the University of Cambridge.

## Offices

- **Johannesburg**: 3rd Floor, Block A, The Pivot, 1 Monte Casino Boulevard, Fourways, Gauteng, South Africa
- **Lagos**: Landmark Towers, Regus Offices #635, 5b Water Corporation Drive, Oniru/Victoria Island Extension, Lagos, Nigeria
- **Mauritius**: Regus, Office 232, Grand Bay, Central Notre Dame de LaSalette Street, 2nd Floor, Grand Bay Coeur de Ville Complex, Grand Bay, Mauritius

## Contact

- Email: info@sangocapital.com
- Phone: (+27) 11 011 9288
- LinkedIn: https://www.linkedin.com/company/sango-capital/

## Pages

- [Home](https://www.sangocapital.com/)
- [Contact](https://www.sangocapital.com/contact)
- [Scammer Alert](https://www.sangocapital.com/scammer-alert)
- [Case Studies](https://www.sangocapital.com/news-and-insights/case-studies)
- [In The News](https://www.sangocapital.com/news-and-insights/in-the-news)
- [Market Views](https://www.sangocapital.com/news-and-insights/market-views)

## Legal

- [PAIA Manual](https://sangocapital.cdn.prismic.io/sangocapital/ZtA9WUaF0TcGJgLE_SangoPAIAManual.pdf)
- [Privacy Policy](https://sangocapital.cdn.prismic.io/sangocapital/ZtA9WEaF0TcGJgLD_SangoWebPrivacyPolicy.pdf)