AfricInvest reaches first close of French-African Fund 3
AfricInvest Europe has announced the first closing of the third generation of its French-African Fund.
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AfricInvest Europe, the French subsidiary of AfricInvest Group, has announced the first closing of the third generation of its French-African Fund (FFA) at about €50 million.
With its Paris-based team dedicated to the FFA strategy, AfricInvest Europe has now reached assets under management of around €150 million.
Since the launch of the first FFA in January 2017, the strategy of the French-African funds has consisted of taking minority equity stakes in profitable and fast-growing French small and medium-sized companies with a link to Africa.
For each of its French portfolio companies, AfricInvest Europe supports their management teams through AfricInvest Group’s long-standing experience in Africa.
In a joint-statement, Stéphane Colin and Khaled Ben Jennet, managing directors of AfricInvest Europe, said: “We are delighted with this milestone for the French-African Funds. Many investors have reaffirmed their confidence in us, and new investors have been convinced by our unique investment thesis. Today the French African Funds have a unique investment strategy in the French small-to-mid cap private equity market. They bring real additionality to every portfolio company – particularly on their African development – alongside management teams and co-shareholders.”
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