LP proposes €15m commitment to AfricInvest fund
The IFC has disclosed a proposed equity investment of up to $15 million in the AfricInvest Small Cap Fund.
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The International Finance Corporation (IFC) has disclosed a proposed equity investment of up to $15 million in the AfricInvest Small Cap Fund, a generalist private equity fund seeking to invest in small and medium enterprises across Africa.
The fund will invest in leading companies within their local markets that have clear growth potential, attractive entry valuations, and strong management teams. It will target businesses in sectors where AfricInvest has prior experience, including retail, IT, hospitality, logistics, and distribution, as well as manufacturing, FMCG, agribusiness, healthcare, and education. The fund will focus on companies with average revenues below €50 million and a maximum of 500 employees at the time of investment.
The fund is seeking to raise up to €180 million.
The fund will prioritise countries where AfricInvest has physical presence (Algeria, Egypt, Kenya, Côte d'Ivoire, Morocco, Mauritius, Nigeria and Tunisia) and neighbouring countries on an opportunistic basis. No more than 50% of the fund will be invested in North Africa.
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