AfricInvest has introduced its Midcap-focused Fund Elevating to a profitable shut, having raised over $400 million

The ultimate shut of AfricInvest Fund IV (AF IV) with complete commitments of US$411 million has been introduced by AfricInvest, an African funding platform. 

Fund AfricInvest IV is the most important within the firm’s historical past, and it follows on from the earlier flagship fund, AfricInvest III, which closed in 2016 with a US$300 million fund measurement. 

AF IV, like its predecessors, seeks to put money into mature and worthwhile African mid-cap firms in a wide range of sectors in an effort to stimulate regional progress and generate glorious risk-adjusted returns. 

“AfricInvest Fund IV is ideally positioned to proceed financing African firms, serving to them as they evolve into native and regional champions,” mentioned Skander Oueslati, Senior Associate and CIO of Sub-Saharan Africa. Our native data and expertise allow us to determine distinctive offers that assist portfolio firms develop long-term methods that present worth.” 

AfricInvest IV has made three investments since its creation, the primary of which was the acquisition of a minority place in Constancy Financial institution Ghana in mid-2020. 

The second was an funding in a merger between Compagnie Marocaine de Goutte à Goutte et de Pompage (“CMGP”) and Comptoir Agricole du Souss (“CAS”) in 2021, leading to CMGP-CAS, one in every of Africa’s high irrigation and agribusiness corporations. 

In April 2022, the Fund and the Worldwide Finance Company bought a 36 % possession in Kenya-based AutoXpress, which is East Africa’s largest importer, distributor, and retailer of tyres, auto elements, and equipment. 

As well as, the Fund encourages inclusive and sustainable improvement by adhering to the 2X Problem criterion for girls’s financial empowerment. 

AfricInvest IV garnered funding from new and returning institutional traders, improvement finance establishments, and household places of work from all through the world when it was launched two years in the past with a tough cap of $400 million.

 

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