African Development Partners III (ADP III)
Region and countries in which the fund invests: Pan-African fund
Jurisdiction of registration: Mauritius
Business sector: Agriculture/Food
Signing date (month/year): 3/2021
Size of Finnfund’s financing (commitment): Up to USD 26, 000,000
Share of Finnfund’s financing:
Environmental and social categorisation: FI-B
Names of companies financed by fund:
– Channel Vas / FinTech / Pan-African
– Societe Industrielle de Conserves Alimentaires de Medjez El Bab, S.A. (SICAM )/ Agriculture/Food/ Tunisia
– Zanzibar Pharma Limited / Pharmaceuticals / Pan-African
Regions and countries of companies financed by the fund: Pan-African, Tunisia
Business sectors of companies financed by the fund: Generalist fund. So far investments in financial services, healthcare and food processing sectors
In the case of investment funds, the share of Finnfund’s financing (%) is disclosed after the final closing of the fund.
African Development Partners III (ADP III) is a private equity fund that will seek to invest across Africa.
The Fund is the third generation PE fund of Development Partners International (DPI). DPI’s strategy is to build diversified pan-African portfolio of private equity investments in established and growing companies benefiting from Africa’s fast-growing, middle class.
ADP III will contribute to the creation of value within its investees and the positive impact they have on their local communities, creating more jobs and increasing tax revenues.
Main development impact
The fund provides companies with growth capital that contributes to job creation, climate change mitigation, and gender balance across Africa.
The Fund has been qualified as the 2X Flagship Fund. The Manager affirms its clear and long-standing commitment to advancing women’s economic empowerment and promoting gender equity both in DPI and within its investees in the Fund.