FinDev Canada commits $30m to Adenia's fifth fund
FinDev Canada announced a commitment of up to $30 million to Adenia V, a private equity fund managed by Adenia Partners Limited, which has marked a first close at $237 million.
Adenia V will provide growth capital to mid-cap businesses (those with 50 to 500 employees) in sub-Saharan Africa.
“Adenia Capital has a proven track record in Africa, and this agreement aligns well with FinDev Canada’s long-term investment goals,” said Paulo Martelli, VP and chief investment officer of FinDev Canada. “We share common goals towards sustainable development, gender equality, climate action and decent work and economic growth with Adenia Capital and its client companies in the region.”
“This successful first closing – against the backdrop of an uncertain macro environment – is testament to our long-established track record of building market leaders in Africa as a committed, responsible investor with an on-the-ground presence across the continent,” said Alexis Caude, managing partner at Adenia.