Virgin Nigeria Airways Limited was formed as Nigeria’s entirely private sector flag carrier following the grounding and subsequent liquidation of Nigeria Airways.  CAPE II along with other Nigerian institutional investors invested alongside Virgin Atlantic Limited who were selected by the Federal Government of Nigeria as Technical Partners to the Airline

Virgin Nigeria operates as a global network airline with the intention to develop Lagos as the main hub for its West and Central Africa operations. The Company has its headquarters in Lagos while it operates globally. CAPE is the largest local shareholders in the airline.

Swift Networks is a licensed last-mile data service provider in the 3.5Ghz frequency deploying Wi-max technology. CAPE II’s initial investment in July 2006 was in the form of a mezzanine instrument making it the second largest shareholder. CAPE II also made a pure equity follow-on investment in June 2008. Both investments were utilized to fund the company’s network expansion capacity program and also acquire operating licenses for both Abuja and Port Harcourt in addition to Lagos. Swift is currently a visible operator in the data transmission and internet space.

Cornerstone Insurance Plc is one of the top ten insurance firms in Nigeria serving both the general and life insurance markets. CAPE II invested in the company and acquired controlling stake in the company via a Special Purpose Entity (SPE) in February 2007. This opportunity arose from the recapitalization requirement for insurance companies under the financial services reform. As a direct result of the investment the company was recapitalized to perform both General and Life businesses. The company has also been able to fund various business and human capital development projects using the investment proceeds. It was also an opportunity to add significant value to a largely under-served industry using Cornerstone as a catalyst.

eTranzact is the first online real-time payments system. The company’s platform is a fully operational mass marketable mobile phone, fixed phone and internet payments system.