Averroès Finance III: Supporting private equity funds focusing on SMEs

Lebanon Turkey Multi-Country Mediterranean and the middle East Egypt Morocco Tunisia
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Projet Averroès Finance III
The Averroès Finance III Fund, launched by Bpifrance Investment and BPI France Private Equity, targets venture capital funds which finance SMEs and midcaps located in the Maghreb and Mashreq regions and Sub-Saharan Africa.
Client presentation
Averroes Finance III is the third fund of funds launched by Bpifrance Investment and subscribed to by Proparco and Bpifrance Private Equity. In 2002, Proparco and Bpifrance Investment established a strong partnership via the creation of two funds of funds, Averroès Finance and Averroès Finance II, which aim to support SME development in the Mediterranean region viaequity investments in regional venture capital funds.
Project description
Proparco’s financing will contribute to the creation of Averroès Finance III, the successor of the Averroès Finance I and II funds of funds. Its geographical area of operation will be extended to Sub-Saharan African, in addition to the Maghreb and Mashreq regions, which are already covered by the first two funds. This fund will mainly target venture capital focused on financing SMEs and midcaps.
Project impact
This operation will contribute to the development of venture capital in Africa, where capital provision still remains extremely limited for companies. The provision of financing to SMEs and midcaps will contribute to developing and boosting the local economic base, which creates wealth and employment.
19/12/2014
Date of signature of the project
Sectors
Lebanon Turkey Multi-Country Mediterranean and the middle East Egypt Morocco Tunisia
Location
Financing tool
30 000 000 Euros
Amount of funding
Equity investment of EUR 30m
Financing details
Averroès Finance III
Client
CES