AfricInvest’s new fund closes at over $400m

AfricInvest, a prominent investment platform engaging in private equity, venture capital, private credit, and listed equities, has announced the final close of its AfricInvest Fund IV, which raised $411 million in total commitments.

AfricInvest has raised more than $2 billion to fund nearly 200 firms in various phases of development across three continents over the last 25 years.

AfricInvest IV garnered investment from new and returning institutional investors, development finance institutions, and family offices from throughout the world when it was launched two years ago with a hard cap of $400 million.

The fund is the largest in AfricInvest’s history, and it follows AfricInvest III, the previous flagship fund, which closed in 2016 with a fund size of US$300 million.

AfricInvest IV, like previous instalments, will be invested in mature and successful African mid-cap companies in a variety of sectors in order to accelerate regional growth and provide attractive risk-adjusted returns. The fund also promotes inclusive and long-term growth by adhering to the 2X Challenge criterion for women’s economic empowerment.