I&P announces 2nd close of $84m Afrique Entrepreneurs 2 fund


Impact investment firm Investisseurs & Partenaires (I&P) has announced the second closing of its I&P Afrique Entrepreneurs 2 (IPAE 2) fund, bringing the African SME-focused fund’s total capacity to EUR75 million (US$84.5 million).

Launched in 2002, I&P is committed to contributing to the rise of a sustainable and dynamic private sector in Sub-Saharan Africa.  

The firm announced the first close of over EUR50 million (US$59 million) for its IPAE 2 fund in December 2017; and has already invested in four African SMEs – food flavouring producer Afribon; CoinAfrique, the leader in mobile classifieds in French-speaking Africa; professional training company the African Management Initiative (AMI); and PROCRÉA, an Ivorian clinic specialised in reproductive health.

The second close adds a further EUR25 million (US$28 million) to the fund; putting I&P on track to reach its total target of EUR80 to 90 million (US$90 – 100 million), with a third and final close expected in the first half of 2019.

The IPAE 2 fund brings together a diversified panel of investors, including public investors such as the IFC, PROPARCO, European Investment Bank, BIO, DGGF, and Bpifrance; private and corporate investors – including the AXA Impact Fund and Société Générale -; as well as several family offices and foundations.

The fund aims to invest in equity and quasi-equity in 30 to 40 startups and companies located in Sub-Saharan Africa and the Indian Ocean, with the mission of promoting a new generation of African entrepreneurs.


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Inspired and excited by the African tech entrepreneurial scene, Gabriella spends her time travelling around the continent to report on the most innovative tech startups, the most active investors, and the latest trends emerging in the ecosystem.

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