AfricInvest has reached financial close on its US$411-million fund with commitments secured in the largest fund it has ever raised. The funding raised was from various institutional investors, development funding institutions and family offices. The fund is expected to further invest in the large mid-cap market of investments in Africa. AfricInvest, part of the Integra Group (based in Tunisia) was established in 1994 and is known as one of the most experienced private equity investors on the African continent. AfricInvest has over US$1.5 billion in funds under management across 18 funds with support from both local and international investors including leading development finance institutions in the United States and Europe.
Having co-founded the African Venture Capital Association (AVCA), the Middle East North Africa Private Equity Association (MENAPEA) as well as the Euromed Capital Forum, the firm is an active promotor of the private equity industry in Africa.