Development Partners International (DPI), a leading Africa-focused investment firm, has issued a statement revealing that its African Development Partners III Fund (ADP III), has surpassed its US$800 million target.
The fund is also on course to reach a final close of US$900 million, with an additional US$250 million of dedicated co-investment capital.
This announcement was made by DPI on Monday. The recently raised funds mean that the firm now has a total of US$1.15 billion to pour into viable investment opportunities on the continent.
Based on the details provided in the statement, the most recent fundraising solidifies ADP III’s stance as one of the largest funds primarily targeted at global capital investments in Africa.
The report indicated that “ADP III will invest in established and growing companies in industries that benefit from Africa’s fast-growing middle class and the increasing digital transformation of the continent. All investments have the highest standards of impact and environmental, social and governance (“ESG”) work.”
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