Member News
3 April 2024
Adenia closes oversubscribed $470mn fund for African growth
Adenia Partners (“Adenia”), a leading private equity firm focused on growth opportunities in Africa, has successfully closed its fifth fund, Adenia Capital V (the “Fund”, “AC(V)” or “Fund V”) at its $470 million hard cap. The Fund, which was significantly oversubscribed, attracted commitments from new and existing investors globally.
Member News
19 March 2024
BII, FMO, IFC, Swedfund and Norfund commit to XSML’s African Rivers Fund IV
Norfund, alongside IFC and other DFIs, has committed $15 million to the frontier investor XSML Capital and their new fund – African Rivers Fund IV (ARF IV), bringing total commitments so far to almost $100 million. The investment will address the scarcity of capital towards the SME segment in frontier markets in Africa.
Member News
11 March 2024
XSML Capital raises US$98.7mn in first close of 4th fund
XSML Capital, a leading provider of growth capital to SMEs in Central and Eastern Africa, has launched its 4th fund, African Rivers Fund IV (ARF IV), with a first close of US$ 98.7 million. The new funding allows XSML to double its investments and impact over the coming years and follow investees into new markets like Zambia.
Member News
30 January 2024
Joliba Capital's maiden fund hits EUR€89mn
Joliba Capital, an African private equity firm majority-owned by LBO France, a multi-specialist and multi-country investment platform, and founded by two seasoned African investment professionals Hamada Touré (Managing Partner) and Yann Pambou (CEO & Managing Partner), is pleased to announce a first close of its inaugural fund, Joliba Capital Fund I, at EUR 89 million.
Member News
25 January 2024
UBS Optimus Foundation finalises seed funding round
Elucid, aBerlin-based sustainability tech firm, is excited to announce the successful close ofits Seed II funding round. Following the first closing ofthe round in August 2023,the recent investment from UBS Optimus Foundation marks the finalization of Elucid's seed funding round. This investment will help scale Elucid’s geographical reach in Africa and South America, strengthen its centralteam, and further enhance its digital platform. This significant milestone reflects the support ofimpact-focused investors who are backing Elucid's mission to transform supply chains and enhance the health and livelihoods of smallholder producers.
Member News
9 January 2024
Lexington Partners raises $22.7bn for global secondary fund
Lexington Partners (“Lexington”), a leading manager of secondary acquisition funds, today announced the completion of fundraising for Lexington Capital Partners X, L.P. (“LCP X”) with $22.7 billion of total capital commitments. The fund surpassed its $15 billion fundraising target and significantly exceeded Lexington’s prior secondary fund, LCP IX, which closed on $14 billion in 2020.
Member News
22 December 2023
Swedfund invests US$32mn in emerging markets fund, serving low- and middle-income consumers 
Swedfund invests USD 32 million in Apis Growth Markets Fund III, a fund serving low- and middle-income consumers across Africa, South and Southeast Asia.
Member News
21 November 2023
Mediterrania Capital Partners welcomes Bpifrance to MC IV fund
Mauritius. Mediterrania Capital Partners, a Private Equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, is pleased to announce that Bpifrance will be joining the MC IV fund to support mid-cap companies in North and Sub-Saharan Africa. Bpifrance will invest through Averroès, its Funds of funds dedicated to Africa.
Member News
1 November 2023
Pearl Capital Partners launches UGX23.9bn Dairy-Horticulture Credit Fund
Pearl Capital Partners(PCP) is delighted to announce and launch aUGX23.9 billion (€6 million) Fund with support from The Embassy of the Kingdom of the Netherlands (EKN). The Agro-SACCO-focused credit facility fund will support smallholder farmers in the dairy and horticulture value chains through various access to finance initiatives. The Dairy-Horticulture Credit Limited (‘DHCL Fund’), managed by PCP Uganda Ltd, is a UGX23.9 billion credit facility for wholesale lending to SACCOs, other Cooperatives and SMEs working with and supporting smallholder farmers in the dairy and horticulture value chains. The DHCL fund has two separate credit lines - the Uganda Dairy Credit Facility(UDCF) and Horticulture Credit Line; each capitalized with UGX11.9 billion (€3million).
Member News
16 October 2023
The Energy Entrepreneurs Growth Fund (EEGF) exceeds target, successfully closing at US$125mn
The Energy Entrepreneurs Growth Fund (EEGF), an initiative led by Shell Foundation, a UK-registered charity, in collaboration with FMO, the Dutch entrepreneurial development bank, successfully closed its fundraising period on 31 July 2023 with commitments totaling US$125 million, a remarkable leap from its initial round which closed at US$45 million. This achievement signifies a pivotal step towards the goal of extending access to clean energy solutions in underserved regions within Sub-Saharan Africa.
Member News
13 October 2023
BluePeak Private Capital final US$156mn close
BluePeak Private Capital (BluePeak) – an alternative asset manager firm supporting the growth of scalable businesses in Africa through privately negotiated and structured debt like instruments– has reached final closing at USD 156 million for its inaugural private capital fund, BluePeak Private Capital Fund SCSp (the Fund). The closing signifies the emergence of private debt as an attractive asset class, offering superior risk adjusted and a compelling alternative for African SMEs.
Member News
6 October 2023
Aruwa Capital provides US$20,000 grant to Taeillo
Aruwa Capital Management and Taeillo are empowering Women for a Brighter Tomorrow Aruwa Capital Management in partnership with Ford Foundation is pleased to have provided a $20,000 grant to Taeillo to ensure more women are brought into skilled roles in furniture production. Aruwa Capital Management and Taeillo have embarked on an inspiring journey in collaboration with Impact HER Africa to launch a Women Empowerment Program (TWEP) with a clear mission to equip 20 remarkable women with essential skills over the next 3 months.
Member News
5 October 2023
Sanari reaches US$65mn in second close for growth fund
Sanari Capital, a women-led and majority Black- and women-owned South African private equity firm, has successfully raised R1.25 billion (approximately $65 million) for its growth fund. The fund is poised to play a pivotal role in fuelling employment opportunities and fostering economic growth in South Africa and across the African continent. This marks the second closing for the Sanari 3S Growth Fund as the firm edges closer to its goal of reaching a final close equivalent of up to $100 million.
Member News
4 October 2023
Alterra has announced the first close for the Alterra Africa Accelerator Fund (AAA Fund)
Alterra announced the first close for the Alterra Africa Accelerator Fund, raising US $140mn. Further commitments are expected to raise as much as the targeted fund cap of $500 million.
Member News
25 September 2023
Mediterrania Capital IV receives a €20mn commitment from Cassa Depositi e Prestiti S.p.A. (CDP Group)
Mediterrania Capital Partners, a Private Equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, is pleased to announce that Cassa Depositi e Prestiti S.p.A. (CDP Group) will be investing €20 million in the new MC IV fund to support mid-cap companies in North and Sub-Saharan Africa.
Member News
22 September 2023
Metier announces first close of Metier Capital Growth Fund III 
Metier announced the first close for Metier Capital Growth Fund III, raising just over $182 million, with further commitments expected by final close positioning Metier to exceed its targeted fund size of $200 million.
Member News
21 September 2023
Mediterrania Capital IV receives a €30mn commitment from EBRD
Mediterrania Capital Partners, a Private Equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, is pleased to announce that the EBRD will be investing up to €30 million in the new MC IV fund to support mid-cap companies in North and Sub-Saharan Africa.
Member News
13 September 2023
Joliba Capital reaches first close for West and Central Africa fund
Adiwale Fund I and Investisseurs & Partenaires (I&P), through its fund IPAE 2, announced the acquisition of a majority stake in VRS Africa. The company offers operational car leasing and fleet management services for corporate clients.
Member News
8 September 2023
AfDB's Sustainable Energy Fund for Africa raises US$50mn in new commitments from Germany and USA at Africa Climate Summit
The African Development Bank's Sustainable Energy Fund for Africa (SEFA) welcomes approximately $50 million in new funding contributions from Germany and the United States. The contributions will serve to boost its position as one of the continent's leading climate finance facilities.
Member News
23 August 2023
RH Managers raise R2bn to boost SA’s social and energy infrastructure
In Johannesburg today, 22 August 2023 - RH Managers (RHM), a Johannesburg-based private equity and infrastructure investment firm is on a fund-raising drive for a R2bn Social Impact Fund to boost South Africa’s healthcare and energy infrastructure.
Member News
4 August 2023
Verdant Capital raises EUR10mn of debt funding for Bridge Taxi Finance
Bridge Taxi Finance (“Bridge Taxi”), a Mokoro Holdings subsidiary, is a development company offering finance and support products to the minibus taxi industry in South Africa. This includes strategic investments and associations in various industries supporting the developmental finance chain, from taxi finance to logistics, credit solution services, supply of parts, and vehicle servicing.
Member News
31 July 2023
IFC invests in Metier to boost growth of mid-market companies in sub-Saharan Africa
To support the growth of mid-market companies in sub–Saharan Africa, IFC today announced an equity investment of US$25m in Metier Capital Growth Fund III (MCGF III) as well as a co-investment envelope of US$15mn to invest alongside the fund in select companies.
Member News
13 July 2023
IFC invests in Amethis Partners’ fund to support African medium-sized businesses
Nairobi, Kenya, July 11, 2023—To support the development of medium-sized companies in Africa across a range of sectors, IFC today announced an investment in the first close of Amethis Partners' Amethis Fund III.
Member News
10 July 2023
Amethis announces the first closing of Amethis Fund III at €140mn
Amethis and Edmond de Rothschild Private Equity announce the first closing of Amethis Fund III at €140 million. The fund will invest with impact in mid-sized companies in the most diversified economies of the African continent. 
Member News
7 July 2023
African Development Bank invest in BluePeak Private Capital Fund
The Board of Directors of the African Development Bank Group has approved an $11 million equity investment in BluePeak Private Capital Fund toward its $155 million target for final close. The investment advances the Bank’s goal of supporting mid-size firms, including in the pharmaceuticals, agribusiness, manufacturing, and logistics sectors, across Africa.
Member News
6 June 2023
Convergence Partners backs Yellow’s latest Series B funding round
Convergence Partners has announced the closure of its investment in Yellow, a provider of pay-as-you-go finance for off-grid solar home systems and connectivity solutions for low-income consumers in parts of East Africa.
Member News
2 June 2023
Alitheia Capital's joint uMunthu II fund reaches €57mn first close
Goodwell Investments and its long-standing partner Alitheia Capital are proud to announce that a mixed group of investors are joining the journey to finance inclusive growth in Africa.
Member News
31 May 2023
FSD Africa Investments backs Africa Climate Ventures
The investment represents the first institutional backing for the venture builder, which aims to assemble a portfolio of businesses focused on climate action across Africa, boosting continental participation in global carbon markets.
Member News
2 May 2023
Injaro Ghana Venture Capital Fund (IGVCF) raises GHS25mn
The Minerals Income Investment Fund (MIIF) and Injaro Investment Advisors Ltd (IIAL) are delighted to announce the decision by the management and Board of Directors of MIIF to commit GHS25M to the Injaro Ghana Venture Capital Fund (IGVCF) which is managed by IIAL. 
Member News
8 March 2023
LeapFrog companies reach 200m women, as firm commits to IFC gender equality program
LeapFrog Investments, the profit with purpose investment firm, today announced that its financial services and healthcare businesses have now crossed the threshold of reaching over 200 million women and girls, providing essential springboards and safety nets to help them rise into a better standard of living.
Member News
2 March 2023
500 Global announce scale up program in Egypt to support pre-series A startups
500 Global, one of the world’s most active multi-stage venture capital firms, and The Egyptian Information Technology Industry Development Agency (ITIDA), announced the launch of 500 Global first batch of the Scale Up program in Egypt. The Scale Up program is focused on providing strategies and experimentation methodologies to accelerate growth for Pre-Series A startups in Egypt.
Member News
2 February 2023
Convergence closes CPDIF at $296m
Convergence Partners has announced the successful closing of its Convergence Partners Digital Infrastructure Fund (CPDIF) at $296m, surpassing its initial target by over 18%.
Member News
31 January 2023
Adenia Partners announces US$300mn first close for its fifth fund
Adenia Partners has announced the first close of its fifth flagship fund, Adenia V, with $300 million in commitments from investors.
Member News
6 January 2023
FMO provides funding for motorcycle financing in Kenya and Uganda
Dutch development finance institution FMO has provided a US$15 million and US$5 million senior term loan to Wat Credit Kenya and Wat Credit Uganda, respectively.
Member News
16 December 2022
LeapFrog Investments invests US$70mn in Sun King
Debevoise & Plimpton LLP has advised LeapFrog Investments (“LeapFrog”) as lead investor in Sun King’s $70 million equity investment round, part of an extension of its initial $260 million Series D round.
Member News
15 December 2022
British International Investment backs Zambian climate entrepreneurs
$50 million credit line provided to Zambia National Commercial Bank in a boost for small businesses and climate-related projects in Zambia 
Member News
5 December 2022
Female founded and led Aruwa Capital Management achieves final close on Fund I
Oversubscribed fund secures large backing from global institutional LPs Aruwa Capital Management (“Aruwa” or “Aruwa Capital”), a Lagos based female founded and led early-stage growth equity and gender lens investment fund, is pleased to announce the successful close of its first institutional fund, which was oversubscribed, surpassing its target of $20 million. The fund’s first institutional and anchor investor is Visa Foundation, followed by other investors such as Mastercard Foundation Africa Growth Fund, Nyala Venture, backed by Financial Sector Deepening Africa Investments and leading family businesses from Africa, Europe and the United States.