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African Development Partners III (ADP III)

Region and countries in which the fund invests: Pan-African fund
Jurisdiction of registration: Mauritius
Business sector: Generalist fund
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 categorization: FI-B
Names of companies financed by the fund (updated 9/2022):

Name Business sector Region Country
Optasia Fintech Africa Nigeria, South Africa
SICAM Agriculture, food Africa Tunisia
Kelix BIO Pharmaceuticals Africa Egypt
MNT Halan Microfinance Africa Egypt
Kazyon Limited Retail Africa Egypt
COFINA Microfinance Africa Mozambique
Ukheshe Financial services Africa South Africa

In the case of investment funds, the share of Finnfund’s financing (%) is disclosed after the final closing of the fund.

Brief description

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 a 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.

Last updated: May 2023