Mediterrania announces final close of third Africa fund
Mediterrania Capital Partners, a private equity firm focused on growth investments for SMEs and mid-cap companies in North and sub-Saharan Africa, has reached a €286 million final closing for its third fund for Africa, Mediterrania Capital III (MC III).
MC III is an eight-year fund that targets SMEs in North African countries including Algeria, Egypt, Morocco and Tunisia, as well as West and Central African countries including Senegal, the Ivory Coast and Cameroon. Looking to take substantial minority or majority stakes, the fund is investing in companies that are well-established in their local markets and have the potential to scale up their activities at the regional level and across the African continent.
To date, 60% of the fund has already been invested in five portfolio companies:
– TGCC: A leader in the construction industry in Morocco with operations in Senegal and the Ivory Coast.
– Cofina: Leading meso-finance institution in West and Central Africa operating in Ivory Coast, Senegal, Guinea Conakry, Gabon, Mali, Congo Brazzaville and Burkina Faso through a network of 90 agencies.
– Cairo Scan: A private provider of radiological and clinical laboratory services in Egypt.
– Aziza: One of the leading food retail operators in Tunisia with 280-plus stores across the country covering 83,000 sq.m of sales area.
– Akdital Holding: The largest private clinic in Morocco with five clinics in greater Casablanca and a capacity of 550 beds.
Albert Alsina, CEO and founder of Mediterrania Capital Partners said, “We are extremely thankful for the continued support of our LPs. At a time when the spread of COVID-19 pandemic is causing an unprecedented threat to people and economies around the world, MC III brings additional financial help at a crucial moment for African SMEs. Through our local teams in Casablanca, Algiers, Cairo and Abidjan, we will continue to search for the best investment opportunities and work closely with our existing portfolio, guiding the implementation of the operational and social measures needed to overcome this difficult phase, and ultimately building resilient companies with the foundations required for long-term growth.”
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