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Fund geography
Emerging countries (256) / Africa (127) / Middle Africa (17)
IPDEV2 aims to build a network of 10 African impact funds in 10 countries within the next decade. The expected outcomes are:
- building the impact investment sector with 10 African funds
- attracting African capital and talent to invest in African SMEs
- Highly leveraged strategy with strong impacts: 550 SMEs invested and 15 000 jobs
- Improvement of the managerial strandards as well as ESG practices in 500+ SMEs
IPDEV2's first closing reached at €9.5m in capital and €3.2m raised in grants in 2015
- 3 impact funds are now operational in Senegal, Burkina and Niger with 11 SMEs invested
- 2 impact funds will be launched in Côte d'Ivoire and Madagascar in 2017
- The second closing will enable to create the next 5 funds including Ghana, Mali & Cameroon
IPDEV2's investment target is early-stage companies with financing needs comprised between €30k and €300k. These companies are not the target of African private equity investors, which creates a "missing middle" that I&P aims to finance.
Asset class
Fund status
Fund style
Financial description
IPDEV is raising €20m in equity and other instruments, as well as €7m in grants for technical assistance, to create 10 in-country investment vehicles in central and western African countries.
IPDEV will leverage its investments by raising equity for each financial vehicle. In select cases, IPDEV will also make direct investments in African SGBs and MFIs which have financing needs between EUR 200-300,000and outstanding ESG performance prospects and high innovation potential.
11 years
of track record
2013
the year funded
20,000,000 EUR
AUM
Interested in this fund?
Log in or create an account to request more information.
Gain a deeper and comprehensive understanding of how this fund generates positive impact in the themes and SDGs that matter to you, with insights provided by our dedicated team of expert analysts, and receive notifications about new available impact products, exciting investment opportunities, and relevant updates in the world of impact investing.
Asset manager
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Investisseurs & Partenaires (I&P)
Headquarters location: France
Other funds managed by this asset manager: I&P Développement I (IPDEV1)I&P Afrique Entrepreneurs II (IPAE2)I&P Afrique Entrepreneurs I (IPAE1)
Impact Category
Key performance indicators
Fund overview
Asset manager: Investisseurs & Partenaires (I&P)
Product track record: Fund has 11 years of track record
Target IRR: 2%
Committed Capital: 0 EUR (Euro)
Target return category: Below risk-adjusted market-rate of return
Fund domicile: Mauritius
Product status: Open - post first close
Style/Stage: Early Stage, Growth Stage
Inception year: 2013
Vintage year: 2015
Target region: Africa, Emerging countries, Middle Africa
Target close date: 01/11/2017
Product term: Unlimited lifespan, with liquidity option for year 10
Assets under management: 20,000,000 EUR (Euro)
Investment size: Min: 30,000; Max: 300,000; Avg: 150,000
Co-investment policy:
Currency of investments: EUR (Euro)
Currency for fund / product figures: EUR (Euro)
Fund investments to date: 5
Fund investments to date exited or repaid: 0
Management fee: n.a.
Carried interest: n.a.
Hurdle rate: n.a.
GIIN Investors' Council Investment: No
Limited Partners / Investors: Proparco, Small Foundation, Lundin Foundation, West African Development Bank, Family offices and other DFIs.
Limited Partner / Investor Type: Development Finance Institution (DFI), Endowments/Foundations, Family Office, Pension Funds, Other Institutional Investors, Retail Investors
Contact
E-mail: n.a.
Website: http://www.ietp.com
Phone number: + 33 1 58 18 57 15
If you wish to have your details removed from this database please email gdpr@impactyield.com
David Munnich
IPDEV Director
Impact Performance
n.a.
Impact thesis
The result of IPDEV2 is a unique program of capacity-building with:
- A network of 10 impact funds dedicated to African early-stage SMEs
- Transfer of skills and methodologies to 10 first-time African teams
- Improvement of the managerial standards as well as ESG practices
- Fostering of the impact investment industry through the building of a pipeline of investable SMEs for other investors, i.e. larger funds.
IPDEV2 targets strong impacts over the first 10 years:
- 500 early-stage SMEs financed
- 15 000 jobs created and preserved
- €100m spent in local goods and services, thus creating important knock-on effects on the supply chain (indirect job creation, organization of value chains)
- €100m paid in taxes to public authorities
- €240m paid in wages
Since most of the 10 African impact funds have unlimited lifespans: IPDEV2's measurable impact will grow far beyond the first 10 years.
Impact Management
n.a.
Financial benchmark
Term Description:
Keywords
Bottom/Base of the PyramidCommunity Investing/LocalLaborLocal capacity buildingRuralUrban