AfricInvest
AfricInvest is a privately held, pan-African private equity firm founded in 1994, headquartered in Tunis, managing approximately $2 billion across 21 funds and over 200 portfolio companies across 35 African countries. It provides growth capital, private credit, and sector-focused funds to African SMEs and family-owned midcaps via institutional LPs.
- Company typePrivate
- Founded1994
- HeadquartersTunis, Tunisia
- Headcount101–250
- GTM typeB2B
- OfferingServices
What AfricInvest does
AfricInvest is a privately held, pan-African private equity firm founded in 1994 and headquartered in Tunis, Tunisia, operating across 11 offices (eight in Africa, plus Paris, and representative offices in the United States and United Arab Emirates). The firm manages approximately $2 billion across 21 funds and has invested in more than 200 companies across roughly 35-38 African countries, with a stated track record of over 90 exits. Its core platform is fund management: AfricInvest raises closed-end private equity vintages (notably Maghreb Private Equity Fund series for North Africa and AfricInvest Fund I-IV for Sub-Saharan Africa) and evergreen or thematic vehicles including FIVE (Financial Inclusion Vehicle), the Cathay AfricInvest Innovation Fund, the Transform Health Fund, and the Franco-African Funds (FFA I-III) managed through French-regulated AfricInvest Europe SAS (AMF agreement GP-16000028).
AfricInvest's go-to-market is enterprise direct sales to two distinct customer types: institutional limited partners (development finance institutions such as FMO, Finnfund, AfDB, Proparco, Bpifrance, BIO, OPIC, plus private-sector investors including Société Générale, BNP Paribas, Orange, Saham, and CNPS Côte d'Ivoire) on the fundraising side, and portfolio companies on the deployment side. The firm targets growth-capital investments in SMEs and family-owned midcaps positioned to become regional champions, taking significant minority and majority stakes with a 4-6 year holding period and hands-on value-add through strategic, financial, technical, and commercial advisory. Adjacent operations include AfricInvest Private Credit, a non-bank debt-financing subsidiary launched in 2014 with FMO, MicroVest, and Finnfund as founding equity partners, providing senior secured offshore lending to African SMEs. Sourcing is predominantly proprietary, with the firm claiming 80% of deals originated through its own network.
Revenue is generated through conventional asset-management economics: management fees on committed and invested capital, transaction and monitoring fees on portfolio companies, and carried interest on exits (recent realizations include EFC Zambia acquired by NMBZ Holdings in February 2026, Groupe Centaures in March 2026 following a USD 16 million fundraising, and Mathevon in June 2025). The firm is independent of any bank or industrial group, co-founded the African Venture Capital Association (AVCA) and the Global Private Capital Association (GPCA), and is led by founding partners Aziz Mebarek and Ziad Oueslati, with Skander Oueslati as Chief Investment Officer and a governance structure that includes independent board members such as former FMO CEO Michael Barth.
AfricInvest firmographics
Firmographics- Name
- AfricInvest
- Legal name
- AFRICINVEST
- Website
- http://www.africinvest.com
- Company type
- Private
- Founded year
- 1994
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- AfricInvest is a privately held, pan-African private equity firm founded in 1994, headquartered in Tunis, managing approximately $2 billion across 21 funds and over 200 portfolio companies across 35 African countries. It provides growth capital, private credit, and sector-focused funds to African SMEs and family-owned midcaps via institutional LPs.
- Ownership category
- akta.pro rank
AfricInvest industry classification
Industry- Product category
- Private Equity and Asset Management
- NAICS
- Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399), Other Investment Pools and Funds (5259)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)
- akta.pro secondary industries
- SME Lending Platforms & Embedded SME Credit (FSAKAGAJ), SME Term Loans & Growth Capital (FSAKAGAB), Corporate Finance & Capital Advisory (BPAHADAB)
Keywords
Where AfricInvest is headquartered
LocationHeadquarters
- HQ city
- Tunis
- HQ country
- Tunisia
- HQ region
- Africa
Offices8 records
Markets served
AfricInvest business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others
Revenue model
- Private Equity Fund Management: AfricInvest generates returns through managing private equity funds across Africa, taking significant minority and sometimes majority positions in portfolio companies. The firm takes a hands-on monitoring approach with a medium to long term view (4-6 year holding period) to create value through strategic, financial, technical and commercial advice.
Go-to-market motion3 records
Distribution channels5 records
Marketing channels5 records
AfricInvest product offering
Product offeringCore offering
AfricInvest is a pan-African private equity firm that manages investment funds providing growth capital to small and medium-sized enterprises (SMEs) across Africa. It also offers private credit (debt financing) through AfricInvest Private Credit and runs sector-specific vehicles such as the Transform Health Fund, the Cathay AfricInvest Innovation Fund, and the evergreen Financial Inclusion Vehicle (FIVE).
Product overview
AfricInvest operates as a pan-African private equity investment platform offering multiple fund products. Core offerings include AfricInvest Fund Management (managing 21 funds with $2 billion raised across 200+ portfolio companies), AfricInvest Private Credit (debt financing for SMEs launched 2014), and AfricInvest Europe (French-regulated subsidiary managing Franco-African Funds for French SMEs investing in Africa). Specialized vehicles include FIVE (Financial Inclusion Vehicle - evergreen fund for financial institutions), Cathay AfricInvest Innovation Fund (innovation-focused), and Transform Health Fund (healthcare sector). Portfolio spans financial services (Kredete, OZE, MFS Africa, Moove), education (GOMYCODE, ISGA, LeWagon), healthcare (Promamec, Africa Healthcare Network), and technology companies across 35 African countries.
Differentiator
Problem solved
Functional benefit
Products and services
- AfricInvest Fund Management End-to-end private equity fund management for institutional limited partners, covering fund raising, deal sourcing, portfolio construction, value addition and exit across Africa. AfricInvest has raised $2 billion across 21 funds and invested in 200+ companies across 35 African countries.
- AfricInvest Private Credit Non-bank financial institution providing senior secured offshore debt financing to successful African SMEs needing funding for growth or expansion, with tenors adapted to SME cash generation capabilities.
- AfricInvest Europe / Franco-African Funds (FFA) French-regulated private equity subsidiary managing Franco-African Funds (FFA) that invest ticket sizes between EUR 5m and EUR 10m directly or alongside co-investors in French SMEs with African development potential and turnover between EUR 20m and EUR 300m.
- FIVE (Financial Inclusion Vehicle) Evergreen platform that invests in African financial institutions (microfinance, fintech, banking) to improve access to financial services for the African population.
- Cathay AfricInvest Innovation Fund Dedicated innovation fund in partnership with Cathay targeting growth and expansion investments in innovative African companies, including technology-enabled businesses such as Kredete and Nile.
- Transform Health Fund (THF) Sector-specific healthcare investment fund providing capital to healthcare companies across Africa, including debt financing such as the USD 8.5 million senior secured loan to Moroccan medical supplier Promamec.
- AfricInvest Fund IV Flagship pan-African private equity fund with a target size of $400 million, deploying growth capital into mid-sized African companies with potential to scale across borders.
Quantifiable outcome
- 28 years of experience in African private equity
- +3 more outcomes
Companies that use AfricInvest
Customer profileNamed customers7 records
Segments3 records
Ideal customer profiles3 records
AfricInvest technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AfricInvest partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered flagship.
- Arrow HoldingflagshipAfricInvest Fund IV invested in Arrow Holding to support its digital transformation and expansion in Africa's HR technology and staffing sector. The investment funds digital HR services development and strategic acquisitions to build a pan-African HR platform aligned with UN SDGs.
- Catalyst Principal PartnersflagshipAfricInvest and Catalyst Principal Partners co-invested in Prime Bank Limited through AfricInvest Azure, a special purpose vehicle. Both leading pan-African and regional private equity firms collaborated on the Kenya banking investment.
- FMOflagshipAfricInvest co-founded the African Venture Capital Association (AVCA) in partnership with FMO, establishing industry standards and promoting private equity in Africa.
Scale indicators10 records
Recent moves12 records
Expansion highlights6 records
AfricInvest competitors and assessment
Company assessmentDirect peers
- Helios Investment Partners: London-based pan-African private equity firm managing multi-billion-dollar funds across Africa; directly comparable to AfricInvest in strategy (mid-cap growth, regional consolidation), geography, and DFI-anchored LP base.
- Actis: Global emerging-markets PE investor with a large dedicated Africa practice and a track record of raising multi-billion-dollar funds; competes with AfricInvest for mid-cap African deals and institutional LP mandates.
- Development Partners International (DPI): Pan-African private equity firm raising successor Africa-focused funds and deploying growth capital into mid-market companies; closely comparable to AfricInvest in target deal size, sectors, and DFI LP relationships.
- AFIG Funds: Pan-African private equity manager with flagship mid-cap funds; directly comparable to AfricInvest in its focus on growth capital for African SMEs with regional expansion potential.
- Ethos Private Equity: South African-based private equity firm investing across the African continent; comparable in sector breadth, mid-cap deal size, and use of DFI co-investors alongside AfricInvest.
- African Capital Alliance (ACA): Nigeria-headquartered pan-African private equity and venture capital manager; competes with AfricInvest in West Africa and in growth-stage SME investing.
- Verod Capital: West Africa-focused (Nigeria) growth-oriented PE firm investing in mid-market companies; comparable to AfricInvest's growth-capital model in Anglophone West Africa.
Emerging players
- Sagana Private Equity: Pan-African PE firm raising growth-stage funds for African consumer and financial-services businesses; overlaps with AfricInvest's sector focus but operates at smaller fund size.
- Lendable: Emerging-markets debt platform that provides structured credit to fintechs and SMEs in Africa; directly comparable to AfricInvest Private Credit's SME lending franchise in product and target market.
Broad incumbents
- Carlyle Group (Africa Strategy): Global alternative asset manager with a dedicated Africa strategy and large fund vintages; competes with AfricInvest for mid-cap African assets and institutional LP capital, though it is far larger and less Africa-specialised.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
AfricInvest social profiles
Digital presenceAfricInvest financial estimates
Financial estimateRevenue estimate
Valuation estimate
AfricInvest leadership team
Management profileNumber of profiles
Profiles18 records
AfricInvest subsidiaries and ownership
Company hierarchySubsidiaries5 records
AfricInvest funding detail
Funding detailFunding overview
Funding rounds3 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
AfricInvest M&A and investment
M&A and investmentM&A3 records
Investments105 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about AfricInvest
What does AfricInvest do?
AfricInvest is a pan-African private equity firm that manages investment funds providing growth capital to small and medium-sized enterprises (SMEs) across Africa. It also offers private credit (debt financing) through AfricInvest Private Credit and runs sector-specific vehicles such as the Transform Health Fund, the Cathay AfricInvest Innovation Fund, and the evergreen Financial Inclusion Vehicle (FIVE).
Is AfricInvest a public or private company?
AfricInvest is a private company. It is classified as management employee owned and is currently operating.
When was AfricInvest founded?
AfricInvest was founded in 1994. It employs 101 to 250 people.
Where is AfricInvest based?
AfricInvest is headquartered in Tunis, Tunisia, in the Africa region.
How does AfricInvest make money?
One revenue line is on record: private Equity Fund Management.
Who are AfricInvest's main competitors?
Direct peers on record are Helios Investment Partners, Actis, Development Partners International (DPI), AFIG Funds, Ethos Private Equity, African Capital Alliance (ACA) and Verod Capital. Emerging players are Sagana Private Equity and Lendable. Carlyle Group (Africa Strategy) is listed as a broad incumbent.
Does AfricInvest have an API?
No public API is recorded for AfricInvest.
What industry is AfricInvest in?
AfricInvest's product category is Private Equity and Asset Management. Its primary akta.pro industry code is FSAAALAG, Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure), with a secondary code of FSAKAGAJ, SME Lending Platforms & Embedded SME Credit. Its NAICS code is 523940 and its SIC code is 6282.