Verod Capital Management, a leading private equity firm, has announced the exit of its Verod Capital Growth Fund II from TAG West Africa, the operator of Lancaster University Ghana, with Transnational Academic Group (TAG) acquiring the fund’s stake.
The companies confirmed the exit on Tuesday, 23rd July.
The transaction marks the culmination of a seven-year partnership that began in 2017, when Verod invested in TAG West Africa to support the expansion of Lancaster University Ghana, the first and only research-active British university campus on mainland Africa.
Established in 2023 in collaboration with Lancaster University in the United Kingdom, the Accra-based campus offers foundation and undergraduate programs, awarding graduates internationally recognized Lancaster University degrees.
During Verod’s investment period, TAG West Africa relocated Lancaster University Ghana to a modern campus designed to accommodate approximately 3,000 students, significantly enhancing the academic and extracurricular experience.
The partnership also focused on increasing the university’s brand visibility in Nigeria, a critical market for student recruitment.
Trish Amoah-Ntim, an investment principal at Verod, emphasized the firm’s commitment to transformative enterprises. “We partner with businesses that are making a positive impact.”
Ms. Amoah-Ntim said. “Our investment in TAG West Africa aimed to expand access to world-class tertiary education in the region, and we are proud to have contributed to this mission.”
Ashwin Gautama, group chief financial officer at TAG, lauded the collaboration. “We extend our sincere gratitude to Verod for their steadfast partnership in elevating Lancaster University Ghana to new heights,” Mr. Gautama said.
“Together, we have shaped thousands of young African minds and provided a strong foundation for their success. TAG remains committed to broadening access to world-class education and empowering the next generation of African leaders.”
The financial terms of the exit were not disclosed.
Source: Africa Private Equity News
