AfricInvest Europe Closes €50m First Round for FFA3, Boosting French-African Investment
AfricInvest Europe has successfully closed the first round of its third French-African fund (FFA3), securing €50m. This brings the total assets under management to €150m. The fund aims to support profitable, fast-growing French small and medium-sized companies with ties to Africa.
FFA3 targets a dozen companies, investing between €5m and €10m per venture, either through majority or minority stakes. The fund seeks to track its impact on governance, transparency, employment creation, and social and environmental values of its portfolio companies.
AfricInvest Group's extensive network, spanning nine African countries and over 100 investment experts, has attracted investments from a diverse range of entities. These include institutional investors, development banks, pension funds, and European and African family offices. New investors in FFA3 comprise pension funds from Kenya, Group Equitane, and European and African family offices. Existing investors such as Bpifrance, Proparco, BNP Paribas, Sanlam, and the pension fund of the Central Bank of Kenya have also contributed.
Since 1994, AfricInvest Group has raised $2.3bn across various funds and completed over 230 transactions in 40 countries. Its French-African funds have made 18 investments in sectors like health, education, water management, distribution, travel services, and digital solutions.
With the successful first close of FFA3, AfricInvest Europe continues its commitment to bridging the investment gap between France and Africa. The fund's focus on impact investing and extensive network position it well to support promising companies and foster economic growth across the continent.
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