Allianz Global Investors’ €200 million AfricaGrow fund of funds, which was launched in November last year, has made its first two investments.

AfricaGrow is a public-private cooperation between KfW Entwicklungsbank, Allianz and DEG.

The first two investment tranches of around €15 million each went to SPE AIF I and the Cathay AfricInvest Innovation Fund (CAIF). SPE AIF I is a fund of SPE Capital Partners, a private equity fund manager based in Tunisia. It focuses on inv...