Africa Capital Digest tracked the following confirmed commitments by Development Finance Institutions to Africa-focused private equity, venture, and infrastructure capital funds during the year’s first quarter. Here they are, ranked by size.
1) International Finance Corporation
Fund Name: Africa Credit Opportunities 3 Sponsored by: Ninety One Commitment Size: $75 million
South Africa-based asset manager Ninety One has secured a commitment for its Africa Credit Opportunities 3 Fund from the International Finance Corporation. The 7.5-year, closed-end fund, will invest US dollar-denominated capital in senior loans and bonds issued by mid to large-size corporations in Africa.
Coverage in Africa Capital Digest: Ninety One lands IFC commitment for private credit fund
2) International Finance Corporation
Fund Name: Emerging Markets Infrastructure II Sponsored by: A.P. Moller Capital Commitment Size: $50 million
The International Finance Corporation has confirmed a commitment to a billion-dollar fund focused on infrastructure opportunities in Africa and Asia. The investment marks IFC’s first commitment to one of A.P. Moller Capital‘s funds and sees them join other institutional investors and Danish pension funds as an LP in EMIF II, which has a hard cap of $1.5 billion.
Coverage in Africa Capital Digest: IFC confirms commitment to billion dollar fund
3) British International Investment
Fund Name: Apis Growth Markets III Sponsored by: Apis Partners Commitment Size: $40 million
Having backed Apis Partners‘ first two private equity funds, British International Investment (BII) is investing in the growth investor’s third and latest fund, Apis Growth Markets Fund III. The private equity firm’s investment team will follow a similar strategy to the firm’s first two funds, sourcing opportunities from among the fintech businesses focused on providing or easing access to financial services consumers and small businesses in Africa, South Asia and Southeast Asia.
Coverage in Africa Capital Digest: British DFI re-ups for Api Partners’ latest fund
4) Swedfund
Fund Name: Apis Growth Markets III Sponsored by: Apis Partners Commitment Size: $32 million
Having backed Apis Partners‘ first two private equity funds, Swedfund has announced an investment in the financial services sector investment specialist’s latest fund. The fund intends to support quickly growing companies that leverage technology to provide financial services to underserved and unbanked customers in Africa, South Asia, and Southeast Asia.
Coverage in Africa Capital Digest: Swedfund re-ups for Apis’s latest fund
5) European Investment Bank
Fund Name: Seedstars Africa Ventures I Sponsored by: Seedstar Africa Ventures Commitment Size: $32 million
The European Investment Bank has made an anchor investment in Seedstars Africa Ventures, a closed-end fund aiming to raise $80 million in time for its final close. Seedstars Africa Ventures I targets seed and Series A stage startups across all sectors in sub-Saharan Africa, prioritizing those that are in revenue, have large addressable markets, and have strong management teams.
Coverage in Africa Capital Digest: Swedfund re-ups for Apis’s latest fund
6) International Finance Corporation
Fund Name: AIIF4 Sponsored by: African Infrastructure Investment Managers Commitment Size: $30 million
The International Finance Corporation (IFC) has agreed to join the roster of LPs backing AIIF4, a planned $500 million infrastructure fund sponsored by African Infrastructure Investment Managers. The fund’s investment team aims to construct a portfolio of 10 to 14 infrastructure assets, focusing on opportunities within the digital infrastructure, energy transition, and mobility and logistics sectors in sub-Saharan Africa.
Coverage in Africa Capital Digest: IFC signs off on commitment to $500mln infrastructure fund
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