Silverbacks Holdings invests in African sports-tech firm NERGii

Silverbacks Holdings, a Mauritius-based investment firm, has acquired a significant minority stake in NERGii, a South African sports technology company that produces innovative performance-enhancing shoe insoles. The deal, announced on 7 August in Cape Town, marks Silverbacks’ latest foray into Africa’s burgeoning sports and technology sectors.

NERGii’s flagship product is an advanced insole designed to naturally activate mitochondria, functioning as a biological wearable battery. The company claims its technology stimulates mitochondrial activity, increasing energy availability in the body and enhancing performance for both recreational and professional athletes.

Ibrahim Sagna, Executive Chairman of Silverbacks Holdings, sees the investment as strategically aligned with the firm’s existing portfolio. “NERGii is perfectly positioned to solve consumer pain points, improve their health and wellness while disrupting the rapidly growing market it operates in,” Mr Sagna said.

The investment secures Silverbacks a seat on NERGii’s board of directors and is part of the firm’s strategy to support businesses in the sports sector, which has seen exponential growth in recent years. Silverbacks aims to leverage its platform and resources to promote NERGii’s current and future products across Africa and beyond.

Iain Banner, founder of NERGii, expressed enthusiasm about the partnership. “For over 150 years, man has lost so much of his innate intuition,” Mr Banner said. “By harnessing quantum energy, NERGii aims to empower its users to ‘switch on naturally’.”

Established in 2019, Silverbacks Holdings focuses on investing in sports, tech, media, and lifestyle-related businesses in Africa. The firm targets average returns of 3 to 5 times on its investments and has delivered six profitable exits since its inception. Its portfolio spans over 240 companies operating in Africa with a combined valuation exceeding $10 billion.

Notable investments by Silverbacks include the Cape Town Tigers, a semi-finalist basketball team in the 2024 Basketball Africa League tournament, and Forever7 Entertainment, which successfully sold two African films to Netflix. The firm has also backed Moove, an African-born global mobility fintech company recently supported by Uber.

Silverbacks’ investment strategy aims to help founders maintain market dominance, accelerate corporate maturity, amplify reach, and increase access to liquidity and financial flexibility. The firm also emphasises job creation for youth and prioritises gender equality in its outcomes.

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