Insight

Adenia Partners raises $470m for fifth Africa fund

Fund V is continuing Adenia's investment strategy of investing in medium-sized companies in Africa.

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  • The fund’s backers include DEG, EIB, FMO, IFC, Proparco, SIFEM, South Suez, the US International Development Finance Corporation, Findev Canada and Norfund
  • Founded in 2002, Adenia has raised $950 million across five funds and co-investments

Adenia Partners has closed its fifth fund at a hard cap of $470 million.

Fund V is continuing Adenia’s investment strategy of investing in medium-sized companies in Africa.

The fund’s backers include DEG, EIB, FMO, IFC, Proparco, SIFEM, South Suez, the US International Development Finance Corporation, Findev Canada and Norfund.

“Amid the impressive oversubscription of this new fund, it is incredible to look back on Adenia’s journey over the last two decades, which started with the €10 million raised for our first fund back in 2003,” said Alexis Caude, managing partner at Adenia Partners in a statement. “Through that time, our approach has remained constant, and we’ve continued to grow our presence to identify and build market leaders, creating lasting value across Africa.”

Founded in 2002, Adenia has raised $950 million across five funds and co-investments.