AFRICINVEST VENTURE CAPITAL GROWTH FUND

The project consists of an equity participation in a EUR 120m venture capital fund focusing on innovative high-growth African small and medium-sized enterprises (SMEs), active in various sectors.

The proposed operation concerns a participation in the AfricInvest Growth Venture Capital Fund, a closed-end venture capital fund with a target size of EUR 120m. The fund will be set up to make privately-negotiated equity and quasi-equity investments to support growing innovative companies in Africa with a predominant focus on Sub-Saharan Africa. The Fund will pursue a pan-African, multi-sector strategy, investing and developing post-revenue innovative ventures that are scaling their activities and international ventures that are developing in Africa. The fund manager will seek to create value through a hands-on monitoring approach. The team will be driving value creation within investee companies and enhancing enterprise skills, fostering the adoption of innovation through the use of technology and implementing good governance as well as best practices as per environmental and social standards.

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

Not Applicable