Alitheia IDF raises US$100m to back women-led firms

Alitheia IDF, an African women-focused private equity fund, has announced the raising of $100 million to close investment gaps. The fund will enhance investment in women-led enterprises across all important industries, according to a statement released by the corporation on Wednesday.

With the deal, the statement added that Alitheia IDF becomes the largest gender-lens private equity fund by value in Africa. The company said the European Investment Bank (EIB) joined as the closing investor with $24.6 million.

Alitheia IDF becomes Africa’s largest gender-lens private equity fund by value as a result of the deal, according to the announcement. The European Investment Bank (EIB) joined as the closing investor with $24.6 million, according to the firm.

The African Development Bank, Bank of Industry Nigeria, FinDev Canada, Dutch Good Growth Fund, and the EIB are among the investors who fund Alitheia IDF.

Jetstream Africa (Ghana), ReelFruit Ltd (Nigeria), SKLD (previously SchoolKits, Nigeria), AV Light Steel (South Africa), and Chika’s Food (Nigeria) are among its current investees companies.

“African women have remained underserved by the financial sector even as the historical investment gap between men and women continues to widen. Estimates show that African women receive less than 5% of all investment on the continent even though over 40% of small and medium-sized enterprises (SMEs) in Africa are women-led,” the statement reads.