CAURIS CROISSANCE FUND II INVESTS IN VIPNET

The Cauris Croissance Fund II, managed by Cauris Management, the West African private equity fund management company, invests 4.6 million euros (3 billion FCFA) in VIPNET to finance the expansion and strengthening of the network.

What is VIPNET Ivory Coast and what does the support of Cauris Management represent?

Founded in 1999, VIPNET is an Ivorian company specialized in data transmission, international communications and broadband Internet mainly for SMEs. Demand for data and broadband Internet services is growing, and the company is expected to seize new growth opportunities with the advent of broadband Internet via submarine cables.

Commenting on the acquisition of the Cauris stake, Mr. Ahmed Chérif, President of VIPNET, said: “The entry of the Cauris Croissance II Investment Fund into the capital of VIPNET is a major milestone in the life of our company, as it opens the way to vast growth opportunities for our business. These resources will not only enable us to continue the work we have begun, in particular the expansion of our broadband network with state-of-the-art equipment, but above all to meet the demands of the market by offering innovative, high-quality, tailor-made Internet products and services based on an infrastructure that is now robust and reliable.

This acquisition represents an opportunity for Cauris to support a young developer and a reference player in various niche markets, eager to offer quality services. It also reflects Cauris’ desire to continue to offer a quality alternative to businesses for data transmission and to help reduce the digital divide in Côte d’ Ivoire by making broadband Internet services available to as many users as possible,”explains Noël Yawo Eklo, CEO of Cauris Management.