Africa and Mediterranean
Investing in private equity funds in Mediterranean countries and facilitating access to African countries for SMEs and Midcaps.
Since 2000, Bpifrance Investments has invested in the investment capital funds of Maghreb and Mashriq, which support the SMEs / Midcaps of the region. These investments are made through the fund of funds Averroes Finance, managed by Bpifrance Investments and co-sponsored by Bpifrance and Proparco (the French Development Agency’s subsidiary for the private sector). This activity is being expanded into sub-Saharan Africa following the setting up of the Averroes Finance III fund in 2015
Bpifrance’s private equity investments in Africa and the Eastern Mediterranean can be considered a bridgehead that enables French companies to lean on the network of managers thus created in the region, just as the network of companies indirectly financed in Africa or the Eastern Mediterranean that get their compensation (french word is contrepartie – so does it refer to their French counterparts??) from Bpifrance’s French portfolio. These collaborations are expected to take various forms: strategic research partnerships, joint-ventures, investment opportunities…
By adding to the market structure of capital investment in the zones it covers, Bpifrance intends to boost its performance while contributing to the development of French SMEs and Midcaps in these developing markets.
Averroes Finance has the following funds :
- Averroès Finance I (2003), has access to funds of the Magreb zone
- Averroès Finance II (2009), has access to funds of the Magreb and Mashriq zones, but has also invested in Turkey
- Averroès Finance III (2015), is in progress; the operation zone is the African continent and the Eastern Mediterranean region.