By February 16, 2019

Investisseurs And Partenaires Announces Final Closure For I&P Afrique Entrepreneurs Funding

By February 16, 2019

Impact investment group Investisseurs & Partenaires carried out the intermediate closing of its fund I&P Afrique Entrepreneurs 2 (IPAE 2) hitting an aggregate amount of USD 84.6 Mn.

I&P Afrique Entrepreneurs 2 was unveiled in December 2017. During its first closure of funding, the company announced it had raised USD 56.4 Mn. The second closing amount is USD 28.2 Mn.

The second closure of the funds saw several influential investors join in. The notable venture capitalists included Belgian Investment Company for Developing Countries (BIO), the Stichting fondsbeheer DGGF lokaal MKB, Bpifrance, Crédit Coopératif, FPS Mirova Solidaire[i] and the IDA 18 IFC-MIGA Private Sector Window.

Founded in 2002 by Patrice Hoppenot, I&P is an impact investing group dedicated exclusively to small and medium-sized enterprises (SMEs) in Sub-Saharan Africa. Since its inception, Investisseurs & Partenaires has aimed to support African entrepreneurs who can build profitable and sustainable activities with high local added value.

The company aims to contribute to the rise of a sustainable and dynamic private sector in Sub-Saharan Africa. To achieve this, it gathers different impact funds to support the growth of its partner companies, providing financing needs.

IPAE 2 has so far invested in four SMEs and envisions to provide the much-needed support to 30 companies in Sub-Saharan Africa by 2022. I&P currently employs approximately 50 people based in Paris and other seven African locations.

IPAE 2 intends to invest equity and quasi-equity as a minority shareholder in 30 to 40 startups and businesses located in Sub-Saharan Africa and the Indian Ocean. This is in a bid to build a sustainable and productive private sector. Reports also reveal that IPAE 2 has plans to create an investment hub in East Africa by opening a new office to be located Nairobi.

Information from Investisseurs & Partenaires website reveals that the fund will target several sectors that have a weighty contribution towards the achievement of Sustainable Development Goals (SDGs).

 

 

Featured Image Courtesy: Businessweek.com

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