CAURIS GROWTH FUND FINANCES AXXEND CORPORATION IN ITS REGIONAL EXPANSION

The Cauris Croissance Fund II, managed by Cauris Management, the West African private equity fund management company, invests 5 million euros (3.3 billion FCFA) in AXXEND Corporation (Axxend). This investment made in Abidjan, the capital of Côte d’ Ivoire on 22 May 2013, aims to finance the first stage of its development programme.

Axxend Corporation operates from its base in Senegal, as well as from offices in Côte d’ Ivoire, Ghana, Guinea Conakry and Cameroon. Created in 2010, Axxend Corporation is a software company specializing in Microsoft and SAP technologies and helps client companies optimize their productivity and revenues through its services. The investment is aimed at diversifying Axxend Corporation’s operations. Significant opportunities are emerging in the African landscape, with the advent of broadband Internet via submarine cables.

Commenting on the Cauris investment, Alberto Olympio, founder and President of Axxend Corporation, said:”As a three-year-old young company, Axxend Corporation has developed a multi-phased development plan. This development plan requires raising additional funds to implement our ambitious development projects. Beyond the financial support, Axxend Corporation needed a structure that could add value, including governance, process optimization and networking, which will further contribute to improving performance. Cauris Management has been able to respond to our specific needs by creating the necessary alchemy that combines the rigour of its industry with the constraints of our context. For all these reasons, Cauris Management remains the best choice for Axxend Corporation.

The Cauris Management partnership – AXXEND Corporation

The partnership with Axxend represents for Cauris Management the opportunity to accompany, a young and fast-growing player with a strong leadership position and a desire to offer quality services to the market. In 3 years of activity, Axxend has won awards and acquired a good reputation for its world-class services. Cauris Management, in line with its investment strategy, intends to support Axxend for the successful implementation of its regional development plan “explains Noël Yawo Eklo, CEO of Cauris Management.