Silverbacks Holdings, an Africa-focused private investment firm, has invested in South Africa's NERGii, a sportstech company that provides innovative products for recreational and professional athletes.
This investment, of an undisclosed amount, is part of the Silverbacks strategy to support businesses in the growing sports sector.
According to a statement, by investing in NERGii, Silverbacks becomes a minority shareholder of the business and secures a seat on its board of directors.
Cape Town-based NERGii's flagship product is advanced performance-enhancing shoe innersoles designed to naturally activate mitochondria(organelles found in the cells). The innersoles function as a biological wearable battery that stimulates mitochondrial activity to increase energy availability in the body, it says.
Silverbacks says the investment will help fuel the growth of the company across SA and beyond Africa.
Ibrahim Sagna, executive chairman of Silverbacks, says: “The 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, adds: “We are delighted to have Silverbacks on-board as an important partner in our new venture. For over 150 years, man has lost so much of his innate intuition, 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 is a Mauritius-based firm focused on investing in sports, tech, media and lifestyle businesses in Africa. It targets an average of three to five times returns on its investments.
The firm says since its inception, it has delivered six profitable exits. While concentrating its investments on a handful of firms, the company says its overall portfolio spans over 240 companies operating in Africa, with a combined valuation of over $10 billion.
Some of its investments include the Cape Town Tigers, a semi-finalist basketball team in the 2024 Basketball Africa League tournament of the NBA; Forever7 Entertainment, which sold two African movies to Netflix; and Moove, an African-born global mobility fintech company recently backed by Uber.
Silverbacks says it 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 on job creation for the youth, while prioritising gender equality.
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