DFC backs three Africa-focused PE and VC funds

With more than $9.1 billion committed to new projects in its 2023 fiscal year, the U.S. International Development Finance Corporation (DFC) has increased its commitments markedly year-over-year since its establishment in 2019.

In the fourth quarter of its financial year, the DFC made commitments to the following African private equity and venture capital funds:

– Improving infrastructure across Africa: An equity investment in the African Infrastructure Investment Fund 4, managed by African Infrastructure Investment Managers, will support transportation and digital infrastructure, and advance efforts towards a clean-energy transition.

– Investing in renewable energy in the Middle East, North Africa, and Eurasia: A $50 million equity investment in Alcazar Energy Partners II SLP will finance renewable energy infrastructure projects in emerging markets across the Middle East, North Africa, and Eurasia.

– Investing in tech startups in West Africa: A $10 million equity investment in Janngo Capital Startup Fund SLP will increase funding for innovative tech startups in Africa, with a particular focus on Francophone West Africa and companies led by women.

* Subscribe to Africa Private Equity News’ monthly Dealmaker’s Log for a database of the reported investment deals, exits and fundraising closes. Click here for more information.