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Proparco to support Africa’s growing middle class through the participation of African Development Partners IV’s first closing
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Proparco, the French development finance institution participated to the first closing of ADP IV, DPI’s latest fund, alongside other Development Finance Institutions (DFI) as well as private investors.
Development Partners International (DPI), a leading London-based private equity firm focused on growth opportunities in Africa has successfully reached the first close of its fourth fund, African Development Partners IV (ADP IV). The first closing was subscribed by a mix of Development Finance Institutions and private investors.
ADP IV pursues DPI’s long-term strategy already implemented in previous funds, of leveraging its technical expertise to address structural challenges on the African continent while investing in growing companies benefiting from Africa’s expanding middle class. By building a pan-African portfolio of around a dozen of mid-to-large cap companies covering a broad range of sectors (education, health, financial services, industry, digital economy, FMCG), DPI aims to stimulate economic development and job creation in underinvested geographies, while capitalizing on strong macroeconomic trends: urbanization, digitalization, and rising middle-class purchasing power.
With an investment of $42m, Proparco renews its support to a long-standing partner and continues to contribute to the promotion of good E&S practices and the achievement of tangible impacts, namely in terms of job creation and alignment with 2X challenge criteria.
“This investment in ADP IV reflects our confidence in DPI’s ability to back high-growth African companies. This also stands as a demonstration of Proparco’s role in mobilising private capital in support of Africa’s expanding middle class.” said Tibor Asboth, Head of Private Equity Division, Africa and Mediterranean at Proparco.
Beyond its direct impact, Proparco’s participation in ADP IV represents a major opportunity to mobilise additional private capital towards Africa, creating a tangible crowding-in effect. By investing alongside private investors and DFIs, Proparco helps scale private sector solutions and support sustainable growth in Africa.