West Africa’s Adiwale Partners Closes First Fund At USD 69 Mn

Adiwale Partners, an SME investment fund, has announced the complete closing of its first USD 69 Mn West African investment fund, Adiwale Fund I. The vehicle will focus on four countries, Côte d’Ivoire, Senegal, Mali, and Burkina Faso, which are underserved by the private equity market, but whose economic prospects open up opportunities. The fund plans to invest between EUR 3 and EUR 8 Mn per transaction in medium-sized companies that are well established in their markets and capable of rapidly growing.