🇿🇦 Cape Town, South Africa
North Star Logistics
Cold-chain freight network for perishables
LogisticsGrowthESG 71
Round size
$50M
Valuation
$380M
ARR
$62M
YoY growth
48%
Conviction
76
/ 100
76/100
Low risk
Team
540
Founded
2016
Investment thesis
Why now
Cold-chain penetration in SADC is <12%; consolidating regional players for IPO path.
- EBITDA positive since 2022
- Anchor contracts with Shoprite & Pick n Pay
- Path to JSE listing 2027
Score breakdown
6-factor weighted model
Diligence checklist
- Founder references
- Cap table & legal review
- Customer calls (5+)
- Cohort & retention data
- Regulatory memo
- ESG audit
Comparable deals
No direct comparables in pipeline.