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Tuesday, 18 September 2018

A15 completes sale of 76% stake in TPAY to Helios Investment

**#5 M&A WATCH- A15 completes sale of 76% stake in TPAY to Helios Investment: Tech investment fund A15 announced yesterday it has sold a 76% stake in its UAE-based mobile payment platform TPAY Mobile to private equity firm Helios Investment Partners. The transaction makes A15 the first in the region to achieve full returns on an investment, the company said in a statement yesterday (pdf). “TPAY returned a multiple of the value of the entire A15 Fund to its investors… [which is] very rare in the global tech investment space and a first of its kind in the MENA region.” A15 will retain a 24% stake in TPAY and continue to implement its growth strategy “with guidance from the new owners.” The value of the transaction was not disclosed. A15, domiciled in the Cayman Islands and headed by Fadi Antaki, is a fund of Khaled and Karim Bichara’s Accelero Capital. Helios has a long track record as an exclusively Africa-focused investor.

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