Adiwale Partners signs new LP for West Africa fund

The IFC has disclosed an investment of up to €9 million in equity into Adiwale Fund I, managed by Adiwale Partners, that will be making equity/quasi-equity investments of between €3-8 million into growth-oriented SMEs in Francophone West Africa.

Adiwale Fund I, which had a first close of €50.5 million in October 2019, is established as a limited partnership registered in Mauritius. Investments by the fund will be across the Francophone West Africa region, primarily focusing on Côte d’Ivoire, Senegal, Mali and Burkina Faso. The fund will target three key sectors: consumer, business services and manufacturing.

The fund will be supported by a blended finance facility of the IDA 18 IFC-MIGA Private Sector Window (IDA PSW), created by the World Bank Group to catalyse private sector investment in IDA countries, with a focus on fragile and conflict-affected states.

SME Ventures Advisory services will support the fund manager’s capabilities around i) GP institutionalisation, ii) value creation strategies and execution, and iii) exit preparedness.

Are you seeking private equity or venture capital investment to grow your company? Africa Private Equity News now offers you the opportunity to connect with investors backing African businesses. Contact us at editor@africaprivateequitynews.com for our rate card and more information.