Investisseurs & Partenaires (I&P), a France-based investor in small and medium-sized enterprises (SMEs) in sub-Saharan Africa, recently raised EUR 25 million (USD 28 million) for its I&P Afrique Entrepreneurs 2 (IPAE 2), bringing the fund’s volume to EUR 75 million (USD 85 million). The new investors in the fund include the Belgian Investment Company for Developing Countries, which is also known by its Dutch acronym BIO; Bpifrance, which was founded by the French government as the Banque Publique d’Investissement; Credit Cooperatif, a France-based financial cooperative; the Dutch government’s Dutch Good Growth Fund; Mirova, a France-based impact investment manager; and the World Bank Group.
The goal of IPAE 2, which was launched in 2017, is to raise a total of about EUR 85 million (USD 96 million) to invest in about 35 companies. As of 2019, the fund has invested in four firms, which operate in the food, health, human resources and technology sectors. To support IPAE 2’s investees, I&P has raised EUR 3 million (USD 3.4 million) for technical assistance.
I&P manages four funds with an aggregate volume of EUR 125 million (USD 142 million). Since 2002, these funds have disbursed amounts ranging from EUR 30,000 (USD 34,000) to EUR 3 million (USD 3.4 million) to 90 SMEs in 16 countries in sub-Saharan Africa.
Sources and Additional Resources
I&P press release
http://www.ietp.com/en/content/second-closing-ipae-2
BIO home page
http://www.bio-invest.be
Bpifrance home page
http://www.bpifrance.com
Credit Cooperatif home page
https://www.credit-cooperatif.coop
Dutch Good Growth Fund home page
https://www.dggf.nl
Mirova home page
http://www.mirova.com
World bank home page
http://www.worldbank.org
I&P home page
http://www.ietp.com/
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