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Investment approach

At Icone Capital, we partner with local and international investors to acquire family-owned businesses and private equity fund investees seeking to ensure their long-term growth. Leveraging the expertise of our founder and investors, we implement ambitious strategies and promote a culture of excellence and accountability, effective capital allocation, and drive the development of new products and markets.

West Africa focus $3–15M recurring revenue Profitable & scalable

Partnering for enduring growth

We target West African companies that have achieved recurring revenues (between $3m and $15m per year), with operational profitability, experienced management and founders/owners eager to hand over their companies to a group of talented entrepreneurs/investors.

We also provide asset management services for private investors, either by dedicating a complete team of consultants (with a strong sectorial background and entrepreneurial capabilities) to oversee operational activities and ensure the sustainability of the business, or by developing flexible and modern reporting tools to support investors in their post-investment strategies.

Experienced teams Operational profitability Succession-ready founders
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Companies criteria

We are targeting existing companies in West Africa with:

Proven, recurring revenues (preferably $3–15m)
Profitability and cash-flow visibility
Experienced management and operational teams
Founders/owners eager to hand over to entrepreneurs/investors
Clear path to scalability and market expansion

Our process

1) Transaction Preparation

Opportunity Identification
Analysis & Due Diligence
Fundraising & Closing

2) Value Creation

Organic Growth — product & market development
Operational Efficiency — governance, KPIs & capital allocation
Geographic Expansion — West Africa first

ESG policy

Icone Capital is committed to have a positive impact on the communities and economies of the countries it invests in:

Environmental stewardship and energy efficiency
Job creation and talent development
Robust governance and accountability
Value-chain & organizational assessments