CDC Group, Finnfund commit $70m to AfricInvest Fund IV

Region:

Middle East & Africa, Europe

CDC Group and Finnfund have announced a $70 million commitment to AfricInvest’s new multisector private equity fund to boost small and medium-sized enterprises in the continent.

CDC, the UK’s development finance institution, committed $50 million and Finnfund, the Finnish development financier, committed $20 million.

Fund IV will invest in mid-cap and growth-oriented companies in sectors including financial services, agribusiness, logistics, manufacturing, healthcare, and education.

It comes shortly after France's Proparco invested in the fund.

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