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AGF Magazine - April 2019 issue

  • In a region where only a minority of the population has access to a bank account and SMEs struggle to get financial help from traditional banks, Albert Alsina, CEO and Founder of Mediterrania Capital Partners, explains how the PE industry is becoming a catalyst for the African Fintech ecosystem’s development, enabling large-scale banking and supporting entrepreneurs and SMEs in their expansion plans (pp. 10-12).
  • In this month’s issue of Africa Global Funds, we also caught up with Kenneth Kaniu, Britam Asset Managers CEO, to learn about their anchor investment in Tiserin Capital, and the needs and constraints of institutional investors in Kenya and East Africa (pp. 14-15).
  • On the infrastructure front, we hear from Moritz Breickmann, Investment Director at African Infrastructure Investment Managers (AIIM) who showcases some successful airport redevelopments in Africa. Read on to find why airport infrastructure projects on the continent can provide attractive long term returns to investors (p.17).
  • In this month’s issue we also learn that the FTIF Templeton Africa Fund was merged into the FTIF Templeton Frontier Markets Fund. We speak with Ahmed Awny and David Haglund about the Fund and its African investments (p.16).
  • Finally, Rob Childs, Head of International for Prescient Fund Services shares his views on the global distribution challenges facing African fund managers and why the firm decided to domicile their offshore fund range in Ireland (p. 22).
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News > Private Equity > Deals

I&P Afrique Entrepreneurs 2 makes first investments

Africa Global Funds
Oct. 10, 2018, 8:57 p.m.
689

Word count: 410

I&P Afrique Entrepreneurs 2,  a private equity fund launched in December 2017 with a first closing at €50m, has announced its first investments. 

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I&P Afrique Entrepreneurs 2,  a private equity fund launched in December 2017 with a first closing at €50m, has announced its first investments. 

Operating in various sectors of activity, the first companies of IPAE 2 portfolio share a common feature: the choice to develop their activities, from the outset, in several African countries. Two of them also share a strong technological component.

The new companies in its portfolio are AFRIBON, African Management Initiative (AMI) and CoinAfrique.

AFRIBON is specialized in the development, production and marketing of food flavors. 

Created in 2012, the group comprises five production sites, in Cameroon and East Africa (Kenya, Uganda, Rwanda, Tanzania).

Launched in 2014, AMI is pioneering a scalable approach to workplace learning for Africa, blending online and in-person training to reach 20,000 people in 11 African countries.

CoinAfrique is a mobile platform launched in 2015, designed to easily sell and buy products within the community of users. 

“More and more we meet companies such as Afribon, AMI or CoinAfrique, aiming for multi-country expansion. Besides, African companies are increasingly integrating new technologies into their service offering and/or business model," said Jérémy Hajdenberg, CIO at I&P.

With a target size of €80m (a second closing between €70 and 75m will be announced by the end of 2018), IPAE 2 aims to invest in equity and quasi-equity in 30 to 40 startups and SMEs over the next five years in Sub-Saharan Africa, particularly in West and Central Africa, but also in East Africa and Madagascar. 

IPAE 2 is a generalist fund that supports companies operating in various sectors (such as agro-industry, microfinance, health, education, construction).

IPAE 2’s investment ticket size can reach up to €3m, allowing I&P to support mature companies and large projects. 

This category of high-potential SMEs represents a powerful growth driver in Africa, but very few equity or debt investors are willing to finance them.

Besides equity investment, IPAE 2 provides companies with active participation in their governance, personalized managerial support and technical assistance resources, enabling them to reach their full potential in terms of growth and impact. 

ESG (Environment, Social, and Governance) issues and impact measurement are at the heart of IPAE’s investment model.

IPAE 2 aims to deliver significant financial return and essential social and environmental impact, including notably: the promotion of a new generation of African entrepreneurs, the use of local subcontractors, job creation, the promotion of women’s entrepreneurship, the protection of the environment, etc.

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