A regional player is on a fundraising trail with a new Francophone Africa focused vehicle, with a lower target that its previous vehicle.
Investisseurs et Partenaires (I&P) is back in the market with I&P Afrique Entrepreneurs III (IPAE III) High Impact For Africa Fund, which is targeting approximately $75.2 million (€70 million) at final close.
The European Investment Bank (EIB) is working on plans to back the fund with a €15 million commitment.
The target size of this latest fund is about 22% lower than its previous vehicle, I&P Afrique Entrepreneurs II (IPAE 2), closed at approximately $100 million (€92 million) in 2020.
IPAE III has a strategy to back deals across sub-Saharan Africa, with a leaning towards Burkina Faso, Mali, Niger and Madagascar.
The fund will invest ticket sizes ranging from €1 million to €5 million per transaction.
Jérémy Hajdenberg and Sébastien Boyé are co-chief executive officers at I&P.
Please see full data on this fund here
