PROJECT

Projects

Summary of Investment Information

Project Number

50215

Company Name

AfricInvest Small Cap Fund LLC

Date SPI Disclosed

Jan 31, 2025

Country

Africa Region

Region

Africa

Projected Board Date

Mar 3, 2025

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Jun 26, 2025

Department

Equity Portfolio Management

Industry

Funds

Previous Events

Approved : Jul 17, 2017
Signed : Mar 4, 2025
Invested : Jun 23, 2025

Sector

Growth Equity Fund

Project Description

   IFC’s SME Ventures (SMEV) program is considering an equity investment in AfricInvest Small Cap Fund (the “Fund”), a generalist private equity fund seeking to invest in small and medium enterprises (“SMEs”) across Africa. The Fund will make investments in (i) leading companies in their local markets with well-defined growth potential, attractive entry valuations, and strong management teams, (ii) operating in sectors where AfricInvest has prior experience including services (retail, IT, hospitality, logistics and distribution), manufacturing, FMCG, agribusiness, healthcare, and education and (iii) generating revenues expected to be on average below €50.0 million and with a maximum of 500 employees at the time of investment.                                              

Associated Advisory Engagement

   IFC's advisory engagement will be delivered through capacity building at the Fund’s SME investee companies as well as any necessary support at the fund manager level.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation