Lagos — Silverbacks Holdings, a leading private investment firm focused on Africa-related companies in high-growth, underserved industries, announced, during the 2025 AVCA Summit in Lagos, its eighth profitable exit since inception as well as the appointment of Sanford R. (Sandy) Climan as a new advisory board member and investor in its Nigeria based portfolio company, African Warriors Fighting Championship (AWFC).
This milestone underscores Silverbacks Holdings' track record in delivering value and driving innovation across Africa's tech and creative economy. This 8th profitable exit serves as its 6th exit from a tech enabled business out of Africa's most populated nation and marks the 4th Nigerian fintech platform delivering superior returns to Silverbacks' investors.
The exit is part of the firm's partial exit program and comes from Lemfi , a fast-growing remittance and payment focused company which recently raised $53mn in Series B funding. The startup created in 2021 enables diaspora communities in western capitals to send money in more than 20 African and Asian cities across the Global South.
This further cements Silverbacks' edge in identifying and scaling high-potential ventures, with a portfolio prioritizing tech enabled businesses capturing growing pools of export oriented revenues. These businesses commonly are led by serial founders and tend to deliver jaw dropping customer experiences, irrespective of audience or geography.
Meanwhile, the renowned media investor, producer, strategist, and the CEO of Entertainment Media Ventures, Sanford R. (Sandy) Climan joined Silverbacks as an advisory board member and became an investor in AWFC, Nigeria's largest Dambe (traditional boxing) promotion and a rising force in global combat sports. AWFC's business model leverages live events, media rights, talent management, and digital platforms to bring African combat sports to a worldwide audience.
Climan brings decades of global experience at the intersection of entertainment, technology, and business. Climan's distinguished career includes senior leadership roles at Universal Studios, Creative Artists Agency (CAA), and Metro-Goldwyn-Mayer, as well as groundbreaking work as a producer of award-winning films like The Aviator and U2 3D.
"Africa's tech, entertainment, sports and creative industries are on the cusp of global recognition. Joining Silverbacks and investing in AWFC aligns perfectly with my passion for transformative ventures at the intersection of media, technology, and culture. I look forward to supporting the next wave of African champions and storytellers," said Mr.Climan.
"This 8th profitable exit which delivered 29X cash invested is another testament to the quality of our portfolio's founders and the investment sophistication of the Silverbacks ecosystem. This coincided with the arrival of Sandy Climan, whose global perspective and media expertise will be invaluable as we scale AWFC and our broader portfolio. Our commitment remains to amplify African tech, sports, and creative spirits on the world stage," said Ibrahim Sagna, Executive Chairman of Silverbacks Holdings.
Silverbacks' recent milestones included becoming, during FII8 in Riyadh, a significant minority shareholder and board member in the African Warriors Fighting Championship (AWFC) , a leading Nigerian combat sport platform which recently partnered with DAZN (backed by SURJ) with the aim of elevating African traditional sports globally, as well as investing in NERGii , a South African sports-tech venture serving both athletes and health enthusiasts, where Silverbacks also secured a board seat.
Silverbacks' landmark investments include Moove (a global mobility fintech backed by Uber), Wave (a mobile money and global remittance focused fintech backed by Stripe), the Cape Town Tigers (2024 BAL/NBA Africa semi-finalists), and Forever7 Entertainment (with top rated Netflix content deals). Silverbacks is committed to helping founders achieve market dominance, accelerate growth beyond initial jurisdiction, and expand access to capital, while generating meaningful impact in youth employment and gender equality across Africa.
Established in 2019, Silverbacks Holdings targets 3x to 5x average returns and maintains a concentrated portfolio of core investments in export oriented tech enabled businesses, while its broader holdings span over 240 tech companies, all together commanding a combined valuation in excess of $10 billion.
For media inquiries:
Dina Kamel
Silverbacks Holdings' Director of PR, Communications, Events, and External Relations
About Silverbacks Holdings:
Established in 2019, Silverbacks Holdings is a Mauritius-based investment firm targeting high-growth opportunities in Africa's tech, sports, and creative economy. The firm seeks to deliver superior returns while backing dominant platforms' builders expanding from Africa to the rest of the world.
