Mirror Fund Invests Sh80 Million in Telecoms Firm in Kenya

Mergers, Acquisitions and Financial Results

Venture capitalist TBL Mirror Fund BV has invested Sh80 million in a local telecoms company with international operations as it seeks to reap returns from the fastest growing sector.

The investment is meant to enable telecommunications infrastructure solutions provider TKM Maestro (TKM) to expand its operations across more countries in Africa, with entry into Nigeria slated for next month.

"We have provided capital to TKM so that they can further grow their business and become the African market leader," said Mr Jacco Brink, a partner at TBL.

This is the fifth investment that the venture capitalist is making in the country with other stakes being in a call centre, a health facility, and a software development company.

The Netherlands-based fund specialises in investing in fast-growing businesses, has an investment timeframe of seven years, and hopes to exit through an initial public offer or a buyout.