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    Reference: 20180400
    Release date: 2 August 2018

    Promoter – Financial Intermediary

    TUNINVEST FINANCE GROUP SA

    Location

    Description

    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.

    Objectives

    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.

    Sector(s)

    • Services - Financial and insurance activities

    Proposed EIB finance (Approximate amount)

    EUR 15 million

    Total cost (Approximate amount)

    EUR 120 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

    Under appraisal - 6/07/2018

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Regional - Africa Services