Mauritius Investment Corporation

What Mauritius Investment Corporation does

Mauritius Investment Corporation Ltd (MIC) is a private company limited by shares established by the Bank of Mauritius in June 2020 as a sovereign investment vehicle, with the central bank serving as sole shareholder. Headquartered in Port Louis, Mauritius, MIC was created in the wake of the COVID-19 pandemic to invest in and support domestic companies operating in key economic sectors affected by the pandemic. As at 30 September 2024, MIC had disbursed MUR 56,834 million to 60 entities, including a MUR 25 billion equity investment in an entity of strategic importance. The company operates three investment portfolios: a Special Assistance Portfolio targeting systemically important distressed companies, a Future Generations Portfolio aimed at enhancing Mauritius's innovation-driven economy, and an Infrastructure Portfolio supporting critical infrastructure development.

MIC's business model is institutional capital deployment rather than a product or technology go-to-market. The company generates returns through equity participation, quasi-equity instruments, and debt financing to portfolio companies, supplemented by asset management and monitoring fees. Investment terms are negotiated bilaterally with portfolio companies through investment committees and board-level approvals, with no public pricing disclosure. Distribution is direct institutional engagement with identified strategic and distressed companies. Since January 2025, MIC has shifted strategy to focus on recouping and safeguarding its investments and assets, operating independently within a strict governance structure, having halted new disbursements except for commitments to a government-owned entity and private equity funds.

The company is governed by a Board chaired by Rajeev Hasnah (First Deputy Governor of the Bank of Mauritius, also serving as Chairperson), with Ramsamy Chinniah (Second Deputy Governor of the Bank of Mauritius) as Non-Executive Director, and independent directors including André Chung Shui, Rehana Kasenally, Bhavna Ramsurun, Verena Tandrayen-Ragoobur, and Vedna Mulloo. Jitendra Nathsingh Bissessur serves as Chief Executive Officer, having been Officer-in-Charge since inception. MIC maintains a corporate website, engages public relations consultants for media visibility, and participates in forums such as the Africa Sovereign Investors Forum; it does not operate a technology product platform and has no disclosed AI, software, or SaaS offerings.

Name

Mauritius Investment Corporation

Legal name

Mauritius Investment Corporation Ltd

Website

https://mic-ltd.mu

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Mauritius Investment Corporation (MIC) is a sovereign investment corporation established by the Bank of Mauritius in June 2020 to invest in and support domestic companies affected by COVID-19. It operates three portfolios (Special Assistance, Future Generations, Infrastructure) and has disbursed MUR 56,834 million to 60 entities.

Ownership category

akta.pro rank

Product category

Sovereign Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239), All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282)

akta.pro primary industry

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

akta.pro secondary industries

Sovereign / Emerging Markets Distressed Debt Funds (FSANAKAL), Private Sector & Blended Finance Arms (IFC-type) (BPADACAJ)

Keywords

• Sovereign investment management
• Distressed asset financing
• Equity and debt investing
• Infrastructure development financing
• Pandemic economic recovery

Headquarters

HQ city

Port Louis

HQ country

Mauritius

HQ region

Africa

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Others

Revenue model

1. Investment Returns - Equity and Quasi-Equity: MIC generates returns through equity participation and quasi-equity instruments in portfolio companies, with the objective of achieving positive real rates of return on invested capital.
2. Debt Instruments: MIC provides debt financing to distressed companies and strategic enterprises, generating returns through interest income and principal repayment.
3. Asset Management and Monitoring Fees: MIC charges fees for asset management, monitoring, and oversight of portfolio companies, contributing to operational sustainability.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Mauritius Investment Corporation Ltd is a sovereign investment corporation that deploys capital through equity, debt, and quasi-equity instruments into domestic Mauritian companies via three investment portfolios: the Special Assistance Portfolio (for systemically important distressed companies), the Future Generations Portfolio (for innovation-driven economy and citizens' savings base), and the Infrastructure Portfolio (for critical infrastructure development). Since January 2025, it has focused on recouping and safeguarding its investments from the MUR 56,834 million disbursed to 60 entities as at 30 September 2024.

Product overview

Mauritius Investment Corporation Ltd (MIC) is a private company limited by shares established by the Bank of Mauritius in June 2020. MIC is a sovereign investment corporation focused on investing in and supporting domestic companies in Mauritius that were financially distressed due to the COVID-19 pandemic. The company does not offer technology products or services. Its core business involves managing investment portfolios including a Special Assistance Portfolio (for systemically important corporations), a Future Generations Portfolio (for innovation-driven economy), and an Infrastructure Portfolio (for critical infrastructure development). MIC disbursed MUR 56,834 million to 60 entities as at 30 September 2024. Since January 2025, MIC has shifted strategy to focus on recouping and safeguarding its investments and assets.

Differentiator

Problem solved

Functional benefit

Products and services

• Special Assistance Portfolio
• Future Generations Portfolio
• Infrastructure Portfolio

Quantifiable outcome

• MUR 56,834 million disbursed to 60 entities
• +1 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Temasek Holdings: Singapore state-owned investment company holding strategic equity positions across sectors and geographies. Temasek's model of long-horizon, sovereign-backed investing in strategic industries parallels MIC's permanent-capital, sovereign-owned structure, though at vastly greater scale and global reach.
• Mubadala Investment Company: UAE sovereign-owned investment vehicle deploying capital across infrastructure, strategic sectors, and innovation globally. Mubadala's blend of infrastructure investment, sovereign backing, and long-duration horizon parallels MIC's strategic-portfolio mandate, though with a much larger international footprint.
• Khazanah Nasional: Malaysian sovereign wealth fund wholly-owned by the federal government, investing across strategic sectors, infrastructure, and innovation. While operating at a far larger scale globally, Khazanah's combination of strategic-sector investing, infrastructure exposure, and innovation-led portfolio construction is structurally similar to MIC.

Direct peers

• Sovereign Fund of Egypt: Egyptian sovereign investment fund investing across strategic sectors, infrastructure, and innovation to support national economic development. Comparable in mandate to MIC as a state-owned vehicle combining strategic-sector equity and infrastructure investment within an emerging-market context.
• Africa Finance Corporation (AFC): African infrastructure-focused investment institution providing project finance, debt, and equity to bridge Africa's infrastructure gap. AFC's mandate to fund strategic infrastructure projects in member states is closely aligned with MIC's Infrastructure Portfolio focus on critical national infrastructure.
• International Finance Corporation (IFC): World Bank Group's private sector investment arm, focused on emerging market equity, debt, and blended finance to support strategic sectors. IFC's blended finance and infrastructure-focused investing in member countries is structurally analogous to MIC's three-portfolio approach combining distressed rescue, growth equity, and infrastructure.
• British International Investment (BII): UK's development finance institution (formerly CDC Group), investing patient capital across Africa and South Asia via debt and equity to support strategic sectors. BII's emerging-market PE/credit model and impact orientation closely mirrors MIC's blend of financial-return and development objectives.
• Public Investment Corporation (PIC): South Africa's state-owned asset manager, wholly-owned by the Government Employees Pension Fund. Operates as a sovereign-affiliated investment corporation deploying capital across domestic strategic sectors — directly comparable to MIC's mandate and structure as a sovereign-owned investment vehicle targeting national strategic assets.
• Fonds Souverain d'Investissement Stratégique (FONSIS): Senegalese sovereign investment fund backing strategic sectors, SMEs, and infrastructure. As a smaller emerging-market sovereign investment vehicle with a domestic strategic-sector mandate, FONSIS offers the closest scale and structural parallel to MIC.

Regional players

• Development Bank of Southern Africa (DBSA): South African state-owned development finance institution investing in infrastructure and strategic sectors across Southern Africa. DBSA's combination of development finance, infrastructure investment, and sovereign backing makes it a regional comparable to MIC's infrastructure and special-assistance mandates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/mauritius-investment-corporation-mic-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Mauritius Investment Corporation