IFC proposes investment in Adenia fund
The IFC has disclosed a proposed equity investment of up to $30 million into the Adenia Entrepreneurial Fund I.
** For the best experience, download the free Africa Private Equity News app Android | iOS **
The International Finance Corporation has disclosed a proposed equity investment of up to $30 million into the Adenia Entrepreneurial Fund I, a pan-African SME and small-cap focused private equity fund. The proposal also includes a separate $20 million co-investment envelope.
The fund seeks to raise up to $180 million. It targets growth equity investments in 10 to 12 companies with ticket size ranging from $10-20 million.
The fund will be managed by Adenia Partners, headquartered in Mauritius with five regional offices covering Kenya, Madagascar, Morocco, Nigeria and South Africa.
Want to know who is raising, investing, and exiting in Africa? Get Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe now