The IPAE 3 fund, managed by Investisseurs & Partenaires, has received a EUR15 million investment from the European Investment Bank (EIB).

In Africa, the IPAE 3 fund is a cutting-edge, high-impact fund that helps indigenous companies with significant development potential in strategic sectors for the participating nations. Agriculture, nutrition, health, energy, water, industry, and services are some of these essential sectors. Over 4,000 direct employments are anticipated to be created, with at least 40% going to women. Additionally, the fund will completely meet the requirements of the 2X Challenge, which supports female entrepreneurs.

The EIB was one of the first to participate in this fund, together with the West African Development Bank (BOAD) and Proparco. It hopes to draw in other public and private investors. The EIB hopes to unleash additional investment totaling 4.5 times its initial contribution by sponsoring the fund.

This marks a turning point in the financing of SMEs in Madagascar and West Africa, especially in nations where private equity firms have historically encountered formidable investment obstacles. In addition to covering neighboring nations like Benin and Togo, I&P maintains a local presence in Ivory Coast, Ghana, Senegal, and Madagascar.

Sébastien Boyé, co-CEO of I&P, stated that his company was pleased to maintain its almost two-decade-old collaboration with the European Investment Bank. According to him, the EIB, along with the other participants in the initial closure, is playing a crucial role in the success of this fundraising round as one of the first parties to formally commit to IPAE 3.