PARTECH AFRICA FUND

Promoter – Financial Intermediary

PARTECH PARTNERS

Location

• Regional - Africa

Description

The proposed operation consists of an equity participation of up to EUR 10m in Partech Africa Fund, a EUR 100m target venture capital fund focusing on small and medium-sized enterprises (SMEs) with high growth potential (start-ups) and active in the digital and technology sectors. The fund will mainly focus on Sub-Saharan Africa.

Objectives

The proposed operation concerns a participation in Partech Africa Fund, a closed-end venture capital fund with a target size of EUR 100m. The fund will be set up to make privately negotiated equity and equity-related investments to support local start-ups (SMEs) with a main focus on Sub-Saharan Africa. The fund will focus on the digital and technology sectors (high-tech companies). The fund's strategy is to generate returns through minority participation in high-growth companies led by young and local entrepreneurs. The fund manager will seek to create value through a hands-on management approach, driving the growth and profitability of investee companies and enhancing enterprise skills, governance as well as environmental and social standards.

Sector(s)

• Services - Financial and insurance activities

Proposed EIB finance (Approximate amount)

EUR 10 million

Total cost (Approximate amount)

EUR 100 million

Environmental aspects

The fund's operational guidelines provide for environmental and social due diligence of investee companies according to guidelines acceptable to the Bank.

Procurement

Not applicable.

Status

Signed - 18/12/2017