IPAE 2 is aiming to raise a total of €80 million to be invested in between 30 and 40 African-based start-ups and SMEs, especially in countries classified as LDCs and in vulnerable and crisis-affected regions. Partnering the private sector in countries like these is one of Proparco’s priorities.
IPAE 2 is a general-purpose investment fund that will focus on sectors that have the potential to create jobs and contribute to sustainable development goals (SDGs), i.e., healthcare, renewable energies, microfinance, manufacturing, agri-business, construction, B2B products and services, etc.
Anne-Sophie Rakoutz, Head of Proparco’s Private Equity Division, stresses that, “Proparco has been I&P’s partner from the very beginning thanks to its local presence and on-the-ground support for African SMEs. We have invested in all of their different impact funds, starting with IPDEV in 2007, followed by IPAE1 in 2012 and IPDEV2 in 2015. Investing in this successor fund to IPAE1 will enable us to continue our commitment to African SMEs which are the lifeblood of the local economy, however their difficultly in securing long-term financing is a major obstacle to their development. We are absolutely convinced that achieving sustainable growth in Africa is contingent on growing these small, profitable and responsible businesses.”
For more information on the IPAE2 fund, go to : www.ietp.com/en
* For more information on FISEA