Adenia Partners, a private markets investment company dedicated to ethical investing and a sustainable Africa, has announced the first closing of its fifth flagship fund, Adenia Capital (V) L.P., with investor commitments totaling $300 million.
The Fund attracted institutional and commercial investors who had previously participated in Adenia funds as well as new investors. It also achieved 75% of its goal size, exceeding its first close minimum criterion. Numerous Development Finance Institutions (“DFI”) are on the list of returning limited partners, including IFC, Proparco, EIB, FMO, DEG, Norfund, and BPI.
Adenia V, with a target size of $400 million, will carry on Adenia’s long-term investment strategy of making control investments in medium-sized businesses throughout Africa with established business models that show capacity for significant operational and ESG growth.
Adenia V has been selected as a 2X Flagship Fund in recognition of its goal of having a positive impact on women. The selection makes Adenia V one of the few investment funds in Africa to achieve 2X Flagship Fund status and highlights Adenia’s deep engagement with gender equality and the firm’s commitment to generating progress towards the United Nations’ Sustainable Development Goal 5. The Fund will also drive urgent climate action across the African continent.