Investment firm Investisseurs & Partenaires (I&P) has announced it has invested in two African tech startups, the first disbursements made from its EUR50 million (US$59 million) IPAE 2 fund.
Launched in 2002, I&P is committed to contributing to the rise of a sustainable and dynamic private sector in Sub-Saharan Africa.
the three are:-
- AFRIBON – specializes in the development, production and marketing of food flavors. Created in 2012, the group comprises five production sites, in Cameroon and East Africa (Kenya, Uganda, Rwanda, Tanzania).
- African Management Initiative (AMI) – launched in 2014, is pioneering a scalable approach to workplace learning for Africa, blending online and in-person training to reach 20,000 people in 11 African countries.
- CoinAfrique – a mobile platform launched in 2015, designed to easily sell and buy products within the community of users
“More and more we meet companies such as Afribon, AMI or CoinAfrique, aiming for multi-country expansion. Besides, African companies are increasingly integrating new technologies into their service offering or business model,” said Jérémy Hajdenberg, chief investment officer at I&P.
With a target size of EUR80 million (US$92.4 million) – a second closing between EUR70 million (US$80.8 million) and EUR75 million (US$86.6 million) will be announced by the end of 2018) – IPAE 2 aims to invest in between 30 and 40 startups and SMEs over the next five years in Sub-Saharan Africa, particularly in West and Central Africa, but also in East Africa and Madagascar. IPAE 2 is a generalist fund that supports companies operating in various sectors.