AfricInvest Europe Raises €50m for FFA3, Boosting Impact Investing in French SMEs with African Links
AfricInvest Europe has successfully raised €50m for its third French-African fund, FFA3, bringing total assets under management to €150m. The fund aims to invest in profitable and fast-growing French SMEs with African connections, focusing on governance, transparency, employment creation, and social and environmental values.
FFA3 plans to invest between €5m and €10m in around a dozen companies, either through majority or minority stakes. It will collaborate with French and foreign private equity funds, or invest directly with founders and management teams. The fund has received commitments from both existing investors like Bpifrance, Proparco, BNP Paribas, Sanlam, and the Central Bank of Kenya's pension fund, as well as new investors such as Kenya's pension funds, Group Equitane, and European and African family offices.
AfricInvest Group, which manages FFA3, has an extensive network of over 100 investment experts based across nine African countries. The group's French-African funds have made 18 investments across sectors like health, education, water management, and digital solutions. Since 1994, AfricInvest Group has raised $2.3bn and closed over 230 transactions in 40 countries.
With FFA3's €50m close, AfricInvest Europe is well-positioned to continue its successful track record of investing in French SMEs with African connections. The fund's focus on impact investing ensures that its portfolio companies contribute positively to governance, transparency, employment creation, and social and environmental values.
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