I&P Développement II (IPDEV2)

Mauritius

Last updated 11 May 2020, by Impactyield.

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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.



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.

9 years

of track record

2013

the year funded

20,000,000 EUR

AUM

SDG goals

SDG targets

Equal rights to ownership basic services technology and economic resources

Promote policies to support job creation and growing enterprises

Full employment and decent work with equal pay

Increase access to financial services and markets

Impact Category

Key performance indicators

Fund overview

Asset manager: Investisseurs & Partenaires (I&P)

Product track record: Fund has 9 years of track record

Target IRR: 2%

Committed Capital: 0 EUR (Euro)

Target return category: Below risk-adjusted market-rate of return

Fund domicile:

Product status:

Style/Stage: ,

Inception year: 2013

Vintage year: 2015

Target region: , ,

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:

Currency for fund / product figures:

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

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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.

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