(Ecofin Agency) - In the framework of its IPDEV 2 program, which aims to incubate and launch 10 funds in 10 African countries, Investisseurs & Partenaires group plans to create an investment fund in Guinea by late 2023. The fund will specifically target Guinean SMEs.  

Impact Investment group Investisseurs & Partenaires (I&P), announced today, May 5, its plans to set up an impact investment fund dedicated to Guinean SMEs and startups. 

The project is expected to be carried out by IPDEV 2, a program set up by I&P to create African investment funds that will finance very small and medium-sized companies in the local economic fabric.

The announced fund  "will be the first institutional player to provide funding and support to high-potential SMEs and startups in Guinea. It will support SMEs and capitalize on the existing synergy with players like incubators, banks and financiers already present in the market to provide specific and innovative offers,” the project note reads. It is expected to be launched by the third quarter of 2023.  

The impact fund is part of IPDEV 2 program’s strategy, which consists of incubating and financing 10 local investment funds in 10 African countries in the coming years. To date, five funds are already operational, and two others are in the closing stage.

The fund, which will be managed by a team of investors based in Guinea and supported by I&P, will commit equity capital and loans ranging from €50 to €500 million to local SMEs.  In addition to the equity and loan contributions, the team will provide support to entrepreneurs and focus its attention on SMEs with high growth potential.  

Chamberline Moko