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Press Release 1 minute to read

Acquisition of a Stake in VIPNET

The Cauris Croissance II Fund, managed by Cauris Management, a West African private equity fund management firm, is investing 3bn FCFA (€4.6m) in VIPNET to finance the company’s expansion and network upgrades.

THE CAURIS CROISSANCE II FUND INVESTS IN VIPNET

The Cauris Croissance II Fund, managed by Cauris Management, a West African private equity fund management firm, is investing 3bn FCFA (€4.6m) in VIPNET to finance the company’s expansion and network upgrades.

What is VIPNET Ivory Coast, and what does Cauris Management’s support entail?

Founded in 1999, VIPNET is an Ivorian company specializing in data transmission, international communications routing, and high-speed internet, primarily for small and medium-sized enterprises (SMEs). Demand is growing for data transmission and high-speed internet services, and the company is expected to capitalize on new growth opportunities with the arrival of high-speed internet via undersea cables.

Commenting on Cauris’s acquisition of a stake in the company, Mr. Ahmed Chérif, President of VIPNET, stated: “The investment fund Cauris Croissance II’s acquisition of a stake in VIPNET is a major milestone in our company’s history, as it paves the way for vast opportunities for business growth. Indeed, these resources will not only enable us to continue the projects we have already begun notably the expansion of our broadband network with state-of-the-art equipment but, above all, to meet market demands by offering innovative, high-quality, and customized internet products and services based on an infrastructure that is now robust and reliable.”

“For Cauris, this equity investment represents an opportunity to support a young entrepreneur and a leading player in various niche markets, who is committed to offering high-quality services. It also reflects Cauris’ commitment to continuing to offer businesses a high-quality alternative for data transmission and to helping bridge the digital divide in Ivory Coast by making high-speed internet services accessible to as many users as possible,” explains Mr. Noël Yawo Eklo, Chairman and CEO of Cauris Management.

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