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Cathay AfricInvest Innovation Fund

The Cathay AfricInvest Innovation Fund I (CAIF I) is a pan-African fund that targets post-revenue, growth stage ventures that leverage recent technological advancements – including the mainstreaming of mobile connectivity and internet penetration- and innovative business models to provide Africa’s growing population with increased access to products and services. Target sectors include education, where e-learning technology could increase reach and provide access to educational material at lower costs, and agriculture, where, for example, technology could provide data to farmers to allow for better access to markets. Further sectors for investment include energy and clean technology, healthcare, financial services, and retail and distribution.

Cathay AfricInvest Innovation Fund

The Cathay AfricInvest Innovation Fund I (CAIF I) is a pan-African fund that targets post-revenue, growth stage ventures that leverage recent technological advancements – including the mainstreaming of mobile connectivity and internet penetration- and innovative business models to provide Africa’s growing population with increased access to products and services. Target sectors include education, where e-learning technology could increase reach and provide access to educational material at lower costs, and agriculture, where, for example, technology could provide data to farmers to allow for better access to markets. Further sectors for investment include energy and clean technology, healthcare, financial services, and retail and distribution.

About the fund

Many African countries face important socio-economic disparities with significant portions of their populations lacking access to finance, energy, and basic services. Innovative businesses offering technology-driven solutions are increasingly recognized as important drivers of economic growth and social impact. They will leapfrog existing delivery mechanisms and provide previously excluded populations access to many of these basic products and services. SIFEM’s investment of EUR 7 million in CAIF I will therefore support a response to Africa’s socio-economic challenges with innovative products and services. It will foster financial sector deepening, financial innovation, and support technological research and innovation as well as social inclusion.

Investments by the fund

             
Date Name Country Industry Status
2021 Company 1 Nigeria Pharmaceuticals and biotech Active
2021 Company 2 South Africa Other industrial services Active
2020 Company 3 Nigeria Communications Active
2022 Company 4 Tunisia Education Active
2019 Company 5 France Travel and leisure Active
2019 Company 6 United States of America Software and computer services Active
2020 Company 7 Nigeria Other financial services Active
2022 Company 8 Ghana Other financial services Active
2021 Company 9 Nigeria Other financial services Active
2022 Company 10 Kenya Insurance Active
2021 Company 11 United Kingdom Travel and leisure Active
Reference code
2019-04
Status
Active
Date of commmitment
October 2019
Date of exit
-
Fund size
EUR
120,000,000
SIFEM commitment
EUR
7,000,000
Asset class
Private Equity
Investment strategy
Investment through Fund
Fund manager
AfricInvest