LP invests additional $10m in SPE Africa Industrialisation Fund

The European Bank for Reconstruction and Development (EBRD) is supporting the availability of alternative equity funding to small businesses in the southern and eastern Mediterranean (SEMED) region by committing an additional $10 million in favour of the SPE Africa Industrialisation Fund I (AIF I).

AIF I is a regional equity fund investing in equity and quasi-equity in small and lower mid-cap companies, predominantly in Egypt, Jordan, Morocco and Tunisia. The fund is managed by SPE Capital, a team that was recently formed as a spin-off from Swicorp.

Anne Fossemalle, EBRD director for equity funds said, “From the outset of the Covid-19 pandemic, it has become even more important to continue supporting promising fund managers in the SEMED region in order to provide SMEs with continuous access to equity capital.”

This is the EBRD’s second commitment to AIF I, following the $20 million committed in 2019, bringing its total commitment to AIF I to $30 million. Since its inception, the fund manager has made four investments across the pharmaceuticals, logistics, consumer products and education sectors.

Reach Africa’s private equity community by publishing a Showcase Article, Job Opportunity or Event on Africa Private Equity News. Contact us at editor@africaprivateequitynews.com for our rate card and more information.