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BII to Invest €15m in MC IV Fund

Staff writer
Nov. 9, 2023, 5:53 p.m.
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British International Investment (BII), UK’s development finance institution and impact investor, has committed €15m in the new MC IV fund to support mid-cap companies in North and Sub-Saharan Africa. 

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British International Investment (BII), UK’s development finance institution and impact investor, has committed €15m in the new MC IV fund to support mid-cap companies in North and Sub-Saharan Africa. 

Sara Taylor, Director and Head of PE Funds and Co-Investments for BII, said: “Many businesses struggle to access the finance they need to grow, create jobs and contribute to local economies. That’s why we are backing MC IV, a fund that provides critical capital to help businesses achieve their full potential.” 

“This commitment serves as a cornerstone in our North African portfolio which will also enable us to tap into broader markets in Sub-Saharan Africa and deliver development impact, particularly on gender and climate related issues,” she added.

With two investments already executed (Laprophan and Cash Plus), MC IV aims to invest up to €350m in African businesses to help them reach their full operational and growth potential. 

Mediterrania Capital Partners’ funds target mid-cap companies operating in sectors crucial for the furtherance of development, including Financial Services, Tertiary Education, FMCG, Construction and Consumer Staples. 

Beyond enhancing access to finance to targeted businesses, a new impact framework is being developed by Mediterrania Capital with BII’s support to substantively focus on driving climate and gender impact within its investment companies. 

Albert Alsina, Founder and CEO of Mediterrania Capital Partners, said: “We’re thrilled to count on the ongoing trust and support of BII and welcome them to MC IV. BII’s mission of helping to solve the global development challenges by investing flexible, patient capital in local businesses to promote productive, sustainable and inclusive economies is fully aligned with Mediterrania’s values and strategy. We’re looking forward to continuing to boost economies and foster whole communities’ wellbeing with the financial and operational support of BII.” 

BII’s commitment follows previous investments in Mediterrania Capital III. Over the past 10 years, Mediterrania Capital Partners has invested in 17 African SMEs and mid-size companies, delivering aggregated annual revenues of €1.5 billion and employing more than 22,000 people. Across all its investments, Mediterrania Capital Partners takes a highly proactive and hands-on approach to implementing the portfolio companies’ growth strategy while leading their ESG processes. This approach enables portfolio companies to deliver superior EBITDA and revenue growth rates while promoting responsible and sustainable development.

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