Development Partners International

What Development Partners International does

Development Partners International LLP (DPI) is a London-headquartered, FCA-regulated private equity firm founded in 2007 that invests across Africa through two complementary strategies. Its flagship African Development Partners (ADP) private equity fund series targets growth-stage mid- to large-cap companies across education, healthcare, financial services, and consumer goods sectors; ADP III closed at USD900 million in October 2021 and ADP IV reached first close at a USD1 billion target in February 2026 with backing from IFC, Proparco, and DEG. In April 2025 DPI extended into early-stage technology and fintech through DPI Venture Capital, anchored by the USD105 million Nclude Fund in Egypt, with Ashley Lewis as Managing Partner.

DPI's operating model combines an investment team with a dedicated Value-Add Portfolio Management function that supports portfolio companies on corporate strategy, operations, Lean Six Sigma implementation, regional expansion, and post-merger integration. An integrated Impact and ESG assessment framework is applied across all investments, aligned to UN Sustainable Development Goals, and DPI was the first 2X Flagship Fund under the gender-lens 2X Challenge. Notable portfolio companies include Moniepoint (fintech unicorn, USD200 million Series C led by DPI), Alameda Healthcare (USD190 million investment for GCC expansion), CMGP Group, Kazyon, Solevo Group, Groupe COFINA, Pan African Towers, and Optasia (USD375 million JSE IPO in 2025).

DPI generates revenue from management fees on committed and invested capital across its flagship funds, carried interest on successful exits (such as the USD200M+ ABI sale to Banque Centrale Populaire and the Optasia and CMGP IPOs), and investment advisory fees. Limited partners include development finance institutions (IFC, Proparco, DEG, BII, EBRD), Egyptian national banks (Banque Misr, National Bank of Egypt, Banque du Caire), corporate strategics (Mastercard, Visa, Google), and institutional investors. The firm has 45+ professionals including 10 partners, with offices in London and Cairo, and a planned CEO succession from founder Runa Alam to senior partner Sofiane Lahmar effective April 1, 2026.

Name

Development Partners International

Legal name

Development Partners International LLP

Website

https://dpi-llp.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Development Partners International is a London-based private equity firm investing across Africa through its African Development Partners flagship funds (now in ADP IV) and the DPI Venture Capital platform anchored by the Nclude Fund, serving institutional investors with growth-stage and fintech investments in 43+ countries.

Ownership category

akta.pro rank

Product category

Private Equity / Asset Management (Africa-focused)

NAICS

Portfolio Management and Investment Advice (523940), Investment Banking and Securities Intermediation (523150)

SIC

Investment Advice (6282)

akta.pro primary industry

Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

akta.pro secondary industry

Private Sector & Blended Finance Arms (IFC-type) (BPADACAJ)

Keywords

• Private equity investing
• Growth capital funds
• Venture capital platform
• Impact investing
• Fund management services

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Fund Management Fees: Management fees charged on assets under management across DPI's flagship African Development Partners fund series (ADP I, II, III, and IV) and DPI Venture Capital.
2. Carried Interest / Performance Fees: Performance-based carried interest from successful fund exits and realizations, aligning DPI's interests with investor returns.
3. Investment Advisory Fees: Fees for providing investment advice to General Partners managing private equity and venture capital funds.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Development Partners International is a London-headquartered private equity and venture capital firm that raises and manages funds — including the African Development Partners (ADP I–IV) series and DPI Venture Capital's Nclude Fund — to make growth-stage and early-stage equity investments in African and select Middle Eastern companies. The firm combines capital deployment with a dedicated Value-Add Portfolio Management team and an Impact and ESG framework to support portfolio companies across fintech, healthcare, consumer goods, education, digital infrastructure, and specialty chemicals.

Product overview

Development Partners International is a premier multi-strategy investment firm that drives growth, value and positive impact in Africa while delivering top quartile returns. The firm operates through two main investment strategies: (1) flagship private equity funds under the African Development Partners (ADP) brand, covering ADP I through ADP IV, targeting growth-stage companies across education, health, financial services, and consumer goods sectors; and (2) DPI Venture Capital, a platform launched in 2025 that includes the Nclude Fund as its anchor vehicle, focused on early-stage fintech and fintech-enabled businesses across the Middle East and Africa. The firm's integrated approach combines investment team, Value-Add Portfolio Management, and Impact and ESG teams working as one to support portfolio companies.

Differentiator

Problem solved

Functional benefit

Brands

• African Development Partners: DPI's flagship private equity fund brand covering ADP I, ADP II, ADP III, and ADP IV funds
• Nclude Fund

Products and services

• African Development Partners I (ADP I)

Quantifiable outcome

• More than $1 billion generated for investors since 2024 through exits
• +3 more outcomes

Named customers9 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Two partnerships are on record, tiered minor.

• Houston MethodistminorStrategic or Co-development Partner · 19 February 2026Alameda Healthcare (DPI portfolio company) entered a multi-year strategic partnership with Houston Methodist to advance high-quality, patient-centered care at Madinaty Hospital in New Cairo.
• AfricInvestminorStrategic or Co-development PartnerDPI partnered with AfricInvest on the CMGP and CAS merger, creating a leading Moroccan and African agricultural champion. AfricInvest invested alongside ADP II to support irrigation infrastructure expansion.

Scale indicators10 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Actis: London-based private equity firm focused on emerging markets including Africa. Direct comparable given shared Africa growth-equity mandate, similar fund sizing, and overlapping portfolio themes in financial services and consumer businesses.
• Helios Investment Partners: Pan-African private equity firm that previously owned Solevo Group, which DPI acquired via consortium. Closest direct peer given parallel Africa-focused buyout strategy, similar sector mix, and prior counterparty relationship.
• AfricInvest: Tunis-based pan-African PE and venture firm. DPI partnered with AfricInvest on the CMGP and CAS merger; they share a North/West Africa focus and a multi-fund platform spanning growth equity and venture.
• Amethis: Pan-African PE firm with comparable Africa/Maghreb focus. Co-invested alongside DPI in Marcyrl and other Egypt deals, sharing similar mid-cap growth-equity deal sizes and DFI LP base.
• LeapFrog Investments: Impact-focused PE investor in emerging markets, particularly Africa and Asia. Co-led Moniepoint's Series C extension with DPI and shares the impact-investing positioning and DFI LP ecosystem.
• Emerging Capital Partners (ECP): Long-standing Africa-focused private equity firm. Direct competitor for African buyout deals and institutional LP capital with similar DFI-led LP base.
• Verod Capital: Nigeria-focused growth-equity firm that has co-invested with DPI in Moniepoint and Pan African Towers. Direct peer for West African mid-market deals with comparable deal sizes.

Broad incumbents

• Carlyle Group (Africa): Global alternative asset manager with an African PE franchise. Operates as a broad incumbent in African PE with a much larger fund platform, competing for the same mid-to-large Africa deals.
• KKR (Africa): Global alternative asset manager that has been actively investing in African PE and infrastructure. Represents a broader incumbent player with deeper pockets competing for scale African transactions.

Regional players

• British International Investment (BII): UK development finance institution that co-invested alongside DPI and is an LP in DPI funds. Functionally a counterparty and adjacent capital provider in the African PE ecosystem rather than a direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/development-partners-international

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries6 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments38 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Development Partners International