Investisseurs & Partenaires (I&P) has launched Teranga Capital, an equity impact investment fund dedicated to promising small growing businesses and start-ups in Senegal, with financing needs comprised between 75,000 and 300,000 euros.

Olivier Furdelle, Co-Founder and Director of Teranga Capital, said: “We bring an innovative solution specifically designed to answer the needs of Senegalese SMEs, in terms of financing but also in terms of strategic and managerial support.”

Alongside with long-term finance in the form of minority equity participation, Teranga Capital provides very close management coaching to support the growth and consolidation of the SMEs in the portfolio.
Teranga Capital is the third African fund sponsored by Investisseurs & Partenaires.

SINERGI Niger was the first equity investment fund co-founded by I&P and eight Nigerien entrepreneurs with the support of private companies.

Meanwhile, Sinergi Burkina was officially launched last month and raised €2.5m in equity from international investors and Burkinabè companies.

To date SINERGI Niger has made nine investments, whereas Sinergi Burkina has closed it first investment with Siatol, a soybean processing company.

Teranga Capital has been officially launched on March 15 in Dakar, in presence of its director Olivier Furdelle, the shareholders and I&P team.

Teranga is supported by renowned investors in Senegal, including the Sovereign Fund for Strategic Investment (FONSIS), SONATEL, and several individual Senegalese investors.

Jean-Michel Severino, CEO of I&P, said: “I&P and Teranga Capital provide a complementary investment range, which perfectly matches the financing needs of the small businesses.”

I&P aims to create 10 local African funds in 10 African countries within the next decade, in order to support 550 early-stage entrepreneurs and contribute to create 15 000 jobs.

These funds will invest in small and medium sized companies whose investment needs range from €30k to €1.5m.

“This innovative model, which will span across 10 African countries over the next decade, aims to support an emerging network of dynamic and local enterprises in Sub-Saharan Africa,” said Severino.