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Adenia Capital V L.P.

The pan-African private equity fund invests in mid-size companies with a focus on providing quality jobs, improving gender diversity, ESG, and climate targets.

Adenia Capital V L.P.

The pan-African private equity fund invests in mid-size companies with a focus on providing quality jobs, improving gender diversity, ESG, and climate targets.

Investment strategy

The fund targets majority stakes in medium sized companies with proven business models yet showing ample room for growth, improvement and value creation. Appliying a very active approach, the Fund Manager contributes to improved businesss strategy, margin increase, market expansion and consistend inclusion of ESG criteria in the businesses.

Development Rationale

Characterized by a young population and a low productivity level, for most African markets creation of quality jobs and improving efficiencies is essential to strengthen the local economies and help low income people improve their living situation. That’s exactly the focus area of the fund’s theory of change. At the same time, the fund contributes to climate targets, as the African private sector needs to rapidly adopt the best practises in sustainability and embrace opportunities to build business that leapfrog carbon intensive production methods.

Investment Rationale

The fund’s theory of change tackles the creation and preservation of quality jobs and the adoption of rigorous ESG criteria by the businesses to ensure climate friendly production. Therewith it will contribute to SIFEM’s main objectives. The fund manager has proven in the past to deliver on those goals. With this commitment, SIFEM supports a longterm partner with an excellent track record alongside other DIFs such as IFC, Proparco, FMO, DEG, EIB, Norfund, DFC, Findev Canada as well as some private investors.

Contribution to strategic objectives

  • Job creation: yes
  • Priority countries: yes
  • Gender equality: fulfilling criteria 2 (Leadership), criteria 3 (Employment) and expeting to fullfill 5 (Investment through Financial Intermediaries)

Additionality

  • Sustainability Additionality: applies responsible investment policy and contributes actively to improving ESG standards within businesses.
  • Financial Additionality: supporting existing partner with longterm capital, helping to reach target size.
Reference code
2023-05
Status
Committed
Date of commmitment
December 2023
Date of exit
-
Fund size
USD
200,000,000
SIFEM commitment
USD
15,000,000
Asset class
Private Equity
Investment strategy
Investment through Fund

Target countries

Kenya
Morocco
South Africa
Nigeria
Ghana
Côte d'Ivoire
Mauritius
Fund manager
Adenia Partners Ltd