AfricInvest Fund IV’s $400 Million Fundraising

Debevoise & Plimpton LLP has advised AfricInvest on the transaction.

AfricInvest, a leading investment platform active in multiple alternative asset classes including private equity, venture capital, private credit and listed equities, announced the final close of AfricInvest Fund IV, LLC (the “Fund,” “AfricInvest IV,” or “AF IV”), with total commitments of $411 million.

Launched two years ago with a hard cap of $400 million, AfricInvest IV received investment from new and returning institutional investors, development finance institutions and family offices from around the world. 

The Fund is the largest in AfricInvest’s history and follows on from the previous flagship fund, AfricInvest III, which closed in 2016, reaching a fund size of €272 million ($300 million).

Like its predecessors, AF IV aims to invest in mature and profitable African mid-cap companies across diverse sectors to accelerate their regional growth and deliver attractive risk-adjusted returns. The Fund also supports inclusive and sustainable development, having committed to the 2X Challenge criteria in support of women’s economic empowerment.

The Debevoise team advising AfricInvest was led by partner Matthew Dickman (Picture), and included associates Fatema Al-Arayedh, and Andrew Seow. Tax advice was provided by international counsel Patrick Fasoro, associates Charles Cartiglia and Veronika Polakova. Regulatory advice was provided by partner Patricia Volhard and international counsel Jin-Hyuk Jang.

Involved fees earner: Fatema Al-Arayedh – Debevoise & Plimpton; Charles Cartiglia – Debevoise & Plimpton; Matthew Dickman – Debevoise & Plimpton; Patrick Fasoro – Debevoise & Plimpton; Jin-Hyuk Jang – Debevoise & Plimpton; Veronika Polakova – Debevoise & Plimpton; Andrew Seow – Debevoise & Plimpton; Patricia Volhard – Debevoise & Plimpton;

Law Firms: Debevoise & Plimpton;

Clients: AfricInvest;