Development Partners International
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.
- Company typePrivate
- Founded2007
- HeadquartersLondon, United Kingdom
- Headcount5,001–10,000
- GTM typeB2B
- OfferingServices
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.
Development Partners International firmographics
Firmographics- 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
Development Partners International industry classification
Industry- 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
Where Development Partners International is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices2 records
Markets served
Development Partners International business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- 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.
- Carried Interest / Performance Fees: Performance-based carried interest from successful fund exits and realizations, aligning DPI's interests with investor returns.
- 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
Development Partners International product offering
Product offeringCore 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
Companies that use Development Partners International
Customer profileNamed customers9 records
Segments6 records
Ideal customer profiles3 records
Development Partners International technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Development Partners International partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor.
- Houston MethodistminorAlameda 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.
- AfricInvestminorDPI 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
Development Partners International competitors and assessment
Company assessmentDirect 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
Development Partners International social profiles
Digital presenceDevelopment Partners International compliance and trust
Trust signalCompliance4 records
Development Partners International financial estimates
Financial estimateRevenue estimate
Valuation estimate
Development Partners International leadership team
Management profileNumber of profiles
Profiles14 records
Development Partners International subsidiaries and ownership
Company hierarchySubsidiaries6 records
Development Partners International funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Development Partners International M&A and investment
M&A and investmentM&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
What does Development Partners International do?
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.
Is Development Partners International a public or private company?
Development Partners International is a private company. It is classified as management employee owned and is currently operating.
When was Development Partners International founded?
Development Partners International was founded in 2007. It employs 5,001 to 10,000 people.
Where is Development Partners International based?
Development Partners International is headquartered in London, United Kingdom, in the Europe region.
How does Development Partners International make money?
Three revenue lines are on record. Fund Management Fees are the primary driver. The others are carried Interest / Performance Fees and investment Advisory Fees.
Who are Development Partners International's main competitors?
Direct peers on record are Actis, Helios Investment Partners, AfricInvest, Amethis, LeapFrog Investments, Emerging Capital Partners (ECP) and Verod Capital. Broad incumbents are Carlyle Group (Africa) and KKR (Africa). British International Investment (BII) is listed as a regional player.
Does Development Partners International have an API?
No public API is recorded for Development Partners International.
What industry is Development Partners International in?
Development Partners International's product category is Private Equity / Asset Management (Africa-focused). Its primary akta.pro industry code is FSAAALAG, Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure), with a secondary code of BPADACAJ, Private Sector & Blended Finance Arms (IFC-type). Its NAICS code is 523940 and its SIC code is 6282.