AfricInvest fund receives commitment from European LP
Swedfund has committed €15 million to the AfricInvest Small Cap Fund.
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Swedfund has committed €15 million to the AfricInvest Small Cap Fund, a private equity vehicle focused on supporting small and medium-sized enterprises (SMEs) across Africa.
"This investment will allow Swedfund to expand its support for underserved businesses across Africa. AfricInvest aligns its investments with measurable sustainability outcomes, allowing us to drive economic growth, create jobs and promote greater inclusion. At the same time we set new benchmarks for responsible investing," says Sofia Gedeon, investment director for sustainable enterprises at Swedfund.
"With decades of experience and a strong presence across the continent, the fund aims to invest in a range of sectors including agribusiness, healthcare, education, consumer goods, manufacturing and services, and is therefore well positioned to contribute to economic growth and social development," she continues.
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