Capital Formation

Three separate raises.
Three separate balance sheets.

Each raise sits in its own ring-fenced vehicle, with its own security package, its own data room and no cross-collateralization with the others. Subscription to one does not imply participation in another. Commercial terms are released under executed non-disclosure agreement following sanctions and know-your-customer screening.

US$35M
Series A — Live
US$250M
AAE-2 Program
US$235M
Ressano Garcia
US$520M
Aggregate Across All Three
InfraNovaGlobal
InfraNovaGlobalGroup holding · origination & structuring
InfraMoyaGlobal
InfraMoyaGlobalDigital · connectivity & data centers
InfraNovaEnergy
InfraNovaEnergyPower · independent generation
InfraMoyaGlobal · Raise 01 · Live

US$35M Series A — Phase 1 De-Risking

Phase 1 is now kicking off: the submarine and terrestrial cable corridor across the Horn of Africa, together with the first three data centers. The Series A carries that work from an advanced, contracted plan to shovel-ready and bankable, ahead of the US$78M Phase 1 financial close.

US$25M — telecoms backbone. Terrestrial survey and engineering across the Addis Ababa → Wajale → Berbera route; G2A submarine IRU deposits; Ciena, Smartoptics and IP Infusion equipment deposits; Salalah gateway and hyperscaler access; legal, regulatory and first drawdown.

US$10M — data centers. Site control, land options and permits for DC1 Cato Ridge, DC2 Colesberg and DC3 Kazungula; grid and captive-power studies; FEED to shovel-ready; pre-lease memoranda; Tier III, ISO 27001 and SOC 2 certification pathway; corporate structuring to close-ready.

US$25M
Telecoms Backbone
US$10M
Data Centers
US$78M
Phase 1 Build Cost
Q4 2026
Targeted First Close
Ring-fenced vehicle · independent data room · no cross-collateralization
Digital platform architecture
InfraMoyaGlobal · Raise 02

US$250M AAE-2 Cable & Horn of Africa Program

A two-vehicle structure securing a strategic branch into Salalah and credible participation in the intercontinental AAE-2 backbone — the ~25,000 km Asia–Africa–Europe 2 system carrying 100+ Tbps between Hong Kong and France.

Vehicle 1 — US$150M, lead. The Ethiopia–Berbera–Salalah submarine branch, held in a ring-fenced special purpose vehicle with a full security package. Satisfies the AAE-2 Management Committee evidence floor.

Vehicle 2 — US$100M, expansion. AAE-2 consortium participation for one fiber pair minimum, carrying long-term governance rights and intercontinental capacity access. Pursued once branch approval and route rights are secured.

24.5%
Equity IRR — Base Case
US$320M+
20-Year NPV
US$680M+
20-Year Revenue
6–8 yrs
Payback Period
Funder LOI targeted · August 15, 2026 · ahead of Management Committee review
Moya Networks route map
InfraNovaEnergy · Raise 03

US$235M Ressano Garcia 120 MW Gas-to-Power

Total funding requirement for Stage 1 of the planned 770 MW Mozambican independent power platform — a 120 MW baseload gas-fired IPP structured as a public-private partnership with EDM and ENH each holding 5% direct equity in the project company.

The capital structure comprises US$140M senior debt (TDB as lead, with an IFC or DBSA co-lender), US$12M subordinated development debt, US$60M equity across sponsor, DFI and sovereign participants, a US$10.6M pre-funded debt service reserve, and pre-financial-close development capital, interest during construction and contingency.

US$140M
Senior Debt
~1.65×
Average DSCR, Yr 1–15
~17–21%
Equity IRR
Q1 2027
Targeted Financial Close
Dual offtake · Bay Harbour US$0.101/kWh with TDB letter of credit · EDM sovereign backstop US$0.080/kWh
African energy and infrastructure opportunity
Capital Structures

Where the money sits.

Two of the three raises have a published indicative structure. The AAE-2 program is a two-vehicle split: US$150M for the ring-fenced branch SPV and US$100M for consortium participation.

Phase 1 Capital Stack · US$78M Build
The US$35M Series A sits inside the Phase 1 build · indicative, subject to the definitive term sheet
US$35M · Series A · 45%
US$18M · 23%
US$10M
US$8M
US$35M — Series A equity
This raise · de-risking to shovel-ready
US$18M — DFI co-lenders
Senior · ~4.0% ECA-supported · 10 yr
US$10M — commercial bank
Senior · DSCR covenant 1.45× minimum
US$8M — sponsor equity
Escrowed at close
US$5M — convertible loan note
Subordinated
US$2M — vendor credit
Ciena, ECA-backed
Ressano Garcia · US$235M Total Funding Requirement
Indicative · subject to confirmation against the final revenue model and EPC term sheet
US$140.0M · 60%
5%
US$36.0M
US$18.0M
US$140.0M — senior debt
TDB lead, IFC / DBSA co-lender · 8.5% · 15 yr
US$12.0M — subordinated
DBSA mezzanine / TDB / Stanbic · 12–15%
US$36.0M — sponsor equity
Incl. US$24M Tier 2 external equity sought
US$18.0M — DFI co-equity
IFC / DBSA / DEG · target 18–21% IRR
US$6.0M — sovereign equity
EDM 5% + ENH 5%
US$10.6M — DSRA
Six months, pre-funded at financial close
US$12.4M — development
Pre-close capital, IDC and contingency
Indicative Sequence

Capital deployed against milestones.

Dates are targets, not commitments, and remain subject to due diligence, permitting, definitive documentation and financial close.

Q3 2026

Mandates & LOIs

Ressano Garcia senior debt mandate advanced with TDB, IFC and DBSA. AAE-2 funder letter of intent targeted August 15, 2026.

Q4 2026

Series A First Close

Series A first close and AAE-2 Management Committee submission. Corridor and campus de-risking work begins on drawdown.

Q1 2027

Series A Final & Power FC

Series A final close. Ressano Garcia financial close, followed by 16 months of turnkey EPC construction.

Q2 2027 →

Phase 1 & AAE-2 Close

Phase 1 senior financial close, then AAE-2 financial close in Q2–Q3 2027. Ressano Garcia commercial operation Q2 2028.

Disclosure

Open items, disclosed rather than deferred.

We would rather a counterparty find these in our own materials than in diligence. The following remain outstanding and are tracked in the verification register released with the data room.

Digital

Series A & Phase 1

  • Detailed financial model confirmation of Year 1–7 returns
  • Independent Engineer capex validation
  • Cato Ridge return figure not reproduced on rebuild — not to be relied upon
  • US EXIM / ECA pathway prospective; no application submitted
AAE-2

Program Raise

  • Management Committee admission decision pending
  • Year 1 revenue reconciliation — build vs headline
  • Capex validation and security structuring
Power

Ressano Garcia

  • Gas Supply Agreement pending execution — critical path
  • Sovereign support instrument at EDM level today
  • Political risk insurance provider not yet mandated
  • Independent Engineer report and EPC term sheet outstanding
Institutional Engagement

Commercial terms are shared under NDA.

Capital structures, financial models and project documentation are released to qualified institutional counterparties following sanctions and know-your-customer screening.

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