Development Partners International (DPI), a premier investment fund, has announced that its Africa Development Partners III Fund has raised an impressive $900 million in addition to US$250m in dedicated co-investment capital. This adds up to a combined $1.15 billion investment warchest dedicated to the continent.
ADP III is made up of funds from development finance institutions, leading pensions and sovereign wealth funds, insurance companies, endowments and foundations, asset managers, and other impact investors. The global investor base represents 20 countries spread across Europe, North America, the Middle East, and Africa. In addition to the strong support from existing investors, DPI has welcomed 25 new LPs to its investor base. This highlights its strong track record and ability to create institutional-grade investment opportunities across Africa.
ADP III targets Africa’s established and growing companies in industries where the continent’s fast-growing middle class can benefit from increased digital transformation. All investments will yield high standards of impact, environmental and social governance work. DPI will rely on its internal proprietary DPI Management System (DPIMS) toolkit purposely to deliver impact in accordance with the UN SDGs.
Development Partners International was founded in 2007 and has $2.8b assets under management accounting for 49,000 employed by the portfolio companies. To date, the company has made four investments. They are global fintech Channel VAS, Tunisia tomato producer SICAM, biopharmaceutical platform Kelix Bio, and Egypt fintech ecosystem MNT-Halan.
Runa Alam, DPI Chief Executive described Africa as an “exciting investment destination with positive demographics” resulting in rising technology as well as rising consumer and business spending. Against this backdrop, DPI now generates top-quartile returns by leveraging the teams’ deep-rooted local expertise across Africa.“We will focus on innovation-driven companies” resulting in digital transformation in their economies of operation.
ADP III fund will focus on innovation-driven companies leading digital transformation in the economies of operation. The company also boasts of deep integration of impact and ESG initiatives in the widely recognized investment life cycle.