Adenia Entrepreneurial Fund (I) LP

Customer

Adenia Entrepreneurial Fund (I) LP (AEF I), is a fund managed by Adenia Capital founded in 2002. AEF I is the sixth fund of Adenia Capital. It marks a strategic expansion of the manager. The fund is focused on control investments in lower mid-cap companies in Africa. The manager has an on-the-ground presence in eight key markets in Africa (Kenya, Madagascar, Ghana, Cote d’Ivoire, South Africa, Nigeria, Morocco and Mauritius).

Funding Objective

Adenia Entrepreurial Fund I will deploy its capital to acquire stakes in small to mid cap companies with proven business models and strong growth potential, with the objective of building regional champions across Africa. By typically seeking majority ownership, Adenia can drive key strategic and operational decisions, safeguard value, and optimize the timing and execution of exits. 
AEF I aims to accelerate growth, support responsible business practices, and deliver meaningful developmental impact across the continent.

Reasons for financing

DEG will support AEF I on its road toward carbon neutrality. 
AEF I fund invests in lower to mid-sized enterprises with high growth potential that lack access to equity finance. The fund invests in businesses that contribute to the creation and safeguarding of decent jobs in lower-middle income countries. In addition to financing, the fund provides institutional support on matters like envi-ronmental and social standards, corporate governance, human resource management and know-how transfer. The fund fully complies with IFC Performance Standards.
Similar to its predecessor funds, AEF I thus is expected to make a strong contribution to Sustainable Development Goals SDG 8 - Decent Work and Economic Growth and SDG 1 - No Poverty.

DFIs still play an important anchor investor role in the African private equity landscape and contribute a significant share of the funds raised. DFI funding is also catalytic to crowd in private investors in the context of a challenging fundraising environment on the continent. DEG, alongside other DFI investors, will play an important role driving governance and ESG aspects during the deployment of AEF I together with the Adenia Team.

DEG’s investment in AEF I aligns closely with its strategy to finance entrepreneurs in emerging African countries who generate significant developmental impact. Moreover, Adenia’s comprehensive and ambitious gender, climate, and impact strategy is fully consistent with DEG’s own impact and climate priorities.

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