Cathay AfricInvest

Who is our client

Founded in 1994, AfricInvest is one of the most experienced private equity investors in Africa, having raised EUR 1.2 bln in its 25-year history. In affiliation with Cathay Innovation the Firm is launching their first pan-African Innovation Fund, “Cathay AfricInvest Innovation” fund. This partnership capitalizes on the pan-African presence of AfricInvest teams and their in-depth knowledge of the entrepreneurial networks across Africa, as well as the experience and depth of Cathay Innovation's global platform that connects the main technological ecosystems in Europe, China and the United States.

Funding objective

The "Cathay AfricInvest Innovation" fund will contribute to the development and scaling up of innovative companies that demonstrate strong growth in Africa. The fund team will provide selected companies with high value-added support by mobilizing its multidisciplinary expertise and networks within the various ecosystems in order to facilitate partnerships and accelerate their geographical expansion, with the aim of building up leaders in their respective sectors of activity.

Why we fund this project

FMO is participating in the fund's first closing in order to show its trust and support for the fund manager in this new endeavour. On the back of a proven track record in SME investments in Africa (including a very successful single-country innovation fund and some selective innovative early-stage investments), FMO is now supporting this new initiative of the fund manager addressing the opportunities created through technology development in Africa.

Building Prospects investment: EUR 4.4 mln

Instrument: Equity