Silverbacks Holdings, a private investment firm focused on Africa-related companies operating in underserved industries, has invested in South Africa's NERGii, a private venture that provides innovative products to recreational and professional athletes on August 7th in Cape Town.
NERGii's flagship product is an advanced performance-enhancing shoe innersoles designed to naturally activate mitochondria. It functions as a biological wearable battery that stimulates mitochondrial activity to increase the energy availability in the body. It also contributes to enhancing the regular performance of recreational and professional athletes, as well as, addressing the pain points of its consumers.
This investment comes as part of Silverbacks Holdings strategy to support businesses in the sports sector, which has been exponentially growing over the recent years. By Investing in NERGII, Silverbacks becomes a significant minority shareholder of the business and secures a seat on its board of directors. Silverbacks aims to help fuel the growth of this innovative company across and beyond Africa.
Commenting on this announcement, Ibrahim Sagna, Executive Chairman of Silverbacks Holdings said: "Silverbacks' investment in NERGii is strategically aligned with our existing portfolio and expertise within sports, tech and lifestyle related businesses. The partnership enables us to leverage our robust platform and resources to effectively promote NERGii's current and future innovative products. NERGii is perfectly positioned to solve consumer pain points, improve their health and wellness while disrupting the rapidly growing market it operates in."
Iain Banner, Founder of NERGII, shared his enthusiasm: " We are delighted to have Silverbacks onboard as an important partner in our new venture. For over a 150 years, man has lost so much of his innate institution and by harnessing quantum energy, NERGii aims to empower its users to "switch on naturally". Humans worldwide are seeking better health and performance, and we want to assist them to access it naturally."
Established in 2019, Silverbacks Holdings is a Mauritius-based firm focused on investing in sports, tech, media and lifestyle related businesses in Africa. It targets an average of 3x to 5x returns on its investments. Since its inception, the firm delivered six profitable exits.
While fundamentally concentrating its investments around a dozen of direct exposures, the firm's overall portfolio spans over 240 companies operating in Africa with a combined valuation of over $10 billion.
Some of Silverbacks' landmark investments include: the Cape Town Tigers, a semi-finalist basketball team in the 2024 Basketball Africa League (BAL) tournament of the NBA, Forever7 Entertainment which successfully sold two African movies to NETFLIX, and Moove, an African born, global mobility fintech company which was recently backed by UBER.
Silverbacks helps founders sustain market dominance and accelerate their corporate maturity, amplify their reach, and increase their access to liquidity and financial flexibility. The firm also seeks to make a substantial impact in terms of job creation for the youth, while also prioritizing gender equality in its outcomes. https://silverbacks.holdings/
