Adenia Capital (II)
Last updated 12 May 2020, by Impactyield.
Emerging countries (256) / Africa (127) / Eastern Africa (50)
Adenia Capital II makes equity and quasi-equity investments in private companies active in Sub-Saharan Africa that contribute to economic and social development by partnering with entrepreneurs, mobilizing financial resources for the healthcare, hospitality, education, agribusiness/consumer goods, telecom, financial services, business services and other sectors.
Adenia Capital (II) is the secund fund launched by Adenia Partners. Its objective is to provide long-term capital appreciation to its investors through equity and quasi-equity investments in private companies in Sub-Saharan Africa. Adenia aims to contribute to the economic and social development of the region by partnering with entrepreneurs, developing winning and profitable strategies, and mobilizing financial resources for the private sector. The firm has a "high touch" operating model, taking an active role in portfolio companies. It devotes significant internal resources to help its management teams develop and execute growth strategies. The fund has been fully invested.
Adenia's preferred investment strategy is to have control, with majority ownership, although we can also support outstanding promoters through a minority stake. The fund provides the necessary capital to allow for a change of control in the shareholding structure and to invest in order to increase production capacities, launch activities in new territories, etc.
To date 3 out of the fund's 7 investments have been exited, with an average IRR of 41% and an average multiple of 3.1x
of track record
the year funded
Headquarters location: Mauritius
Other funds managed by this asset manager: Adenia Capital (IV)Adenia Capital (III)
Equal rights to ownership basic services technology and economic resources
Ensure public access to information and protect fundamental freedoms
Universal access to safe and nutritious food
Double the improvement in energy efficiency
Promote policies to support job creation and growing enterprises
Full employment and decent work with equal pay
Develop sustainable, resilient and inclusive infrastructures
Universal access to information and communications technology
Key performance indicators
Asset manager: Adenia Partners
Product track record: Fund has 16 years of track record
Target IRR: n.a.
Committed Capital: n.a.
Target return category: Risk-adjusted market-rate of return
Fund domicile: Mauritius
Product status: Closed - no longer investing
Style/Stage: Buy Out, Growth Stage
Inception year: 2007
Vintage year: 2007
Target region: Africa, Eastern Africa, Emerging countries
Target close date: n.a.
Product term: 10 year term
Assets under management: 30,000,000 EUR (Euro)
Investment size: Min: 1,200,000; Max: 7,500,000; Avg: 3,000,000
Co-investment policy: LPs have priority, With LPs and non-LPs
Currency of investments: EUR (Euro)
Currency for fund / product figures: EUR (Euro)
Fund investments to date: 7
Fund investments to date exited or repaid: 3
Management fee: 2.5%
Carried interest: 20%
Hurdle rate: 6%%
GIIN Investors' Council Investment: Yes
Limited Partners / Investors: Investors in Adenia Capital (II) are a combination of large reputable international Investors and regional individual investors and entrepreneurs. Directors and senior managers of Adenia Partners collectively hold 15% of Adenia Capital (II). Institutions investing in this fund include Proparco, the European Investment Bank (EIB), the International Finance Corporation (IFC), Norfund, CDC, and the Sugar Industry Pension Fund of Mauritius.
Limited Partner / Investor Type: Development Finance Institution (DFI), Family Office, Pension Funds
Phone number: + 230 213 81 95
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Poonam Baccha Bucktowar
Adenia’s role is to contribute to the emergence of entrepreneurs who share our values of integrity, transparency, fairness and accountability. It is about driving sustainable changes and implement international standards within its portfolio companies which shall endure after exits. By upgrading infrastructures, instilling industrial, environmental, social, governance and financial best practices, our African portfolio companies are shifted into performing local models and enabled to grow sustainably.