AfricInvest Europe Closes €50m FFA3 Fund, Boosting France-Africa Investment
AfricInvest Europe has successfully closed the first round of its third French-African fund, FFA3, with €50m. This brings the total assets under management for the group to €150m. The fund, which aims to support profitable French SMEs with African ties, has attracted a mix of international institutional investors, including pension funds from Kenya and European and African family offices.
FFA3's strategy aligns with AfricInvest Group's extensive track record. Since 1994, the group has raised $2.3bn and closed over 230 transactions across 40 countries. FFA3, like its predecessors, will focus on sectors such as health, education, water management, and digital solutions. It plans to invest between €5m and €10m in a dozen companies, either via majority or minority stakes.
The fund's investors include existing backers like Bpifrance, Proparco, BNP Paribas, Sanlam, and the Central Bank of Kenya's pension fund. New investors include Group Equitane and various family offices. FFA3 also aims to track the impact of its investments on governance, transparency, employment creation, and social and environmental values of its portfolio companies.
With the first close of FFA3, AfricInvest Europe continues its mission to bridge the investment gap between France and Africa. The fund's diverse investor base and targeted investment strategy reflect the group's commitment to fostering growth and development in both regions.
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