Bpifrance and Mubadala Investment Company announced the signing of a memorandum of understanding (MoU) to launch a new co-investment partnership dedicated to African private equity. The two companies will aim to deploy up to €350 million through fund and direct investments in private equity and venture capital, with a focus on high-growth African startups, SMEs and mid-caps.

Bpifrance and Mubadala have built a strong relationship since the launch of the French Emirati Fund in 2014 an...