Proparco commits $15m to PE fund
The Adenia Entrepreneurial Fund will invest across a diversified range of sectors throughout Africa.
** For the best experience, download the free Africa Private Equity News app Android | iOS **
Proparco has committed $15 million to the Adenia Entrepreneurial Fund (AEF), a pan-African private equity fund dedicated to small and medium-sized enterprises (SMEs) and mid-market companies.
The fund will invest in eight to 10 companies, with ticket sizes ranging from $10 million to $20 million, across a diversified range of sectors throughout Africa. It will primarily focus on acquiring majority stakes in businesses with strong local foundations and proven potential for regional expansion.
AEF reached its hard cap of $180 million at first close, bringing together development finance institutions and private investors.
The fund has already completed its first investment in Maymana, a Moroccan culinary brand.
Tibor Asboth, head of private equity for Africa and the Middle East at Proparco, stated: “This investment in the Adenia Entrepreneurial Fund is fully aligned with Proparco’s strategy to strengthen the fabric of African SMEs and mid-market companies, which play a key role in job creation, the structuring of local economies, and regional integration. We are pleased to extend our long-standing partnership with Adenia through this new vehicle, dedicated to a vital yet still underfunded segment of the African market.”
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