AfricInvest Europe, the Paris-based subsidiary of the AfricInvest Group, has announced the first close of its third-generation French-African Fund (FFA III), securing approximately €50 million in commitments. This milestone brings the firm’s total assets under management for the FFA strategy to around €150 million, reinforcing its position as a key player in cross-border private equity between France and Africa.
Launched in January 2017, the French-African Fund strategy focuses on acquiring minority equity stakes in profitable, fast-growing French small and medium-sized enterprises (SMEs) that maintain or seek strategic links with African markets. The fund’s objective is to support these companies in scaling their operations and expanding into Africa, leveraging AfricInvest Group’s deep regional expertise and networks.
AfricInvest Europe’s dedicated Paris-based team works closely with portfolio company management to unlock growth opportunities, particularly in African markets, while maintaining strong governance and operational support.
In a joint statement, Stéphane Colin and Khaled Ben Jennet, Managing Directors of AfricInvest Europe, expressed enthusiasm about the fund’s progress:
We are delighted with this milestone for the French-African Funds. Many investors have reaffirmed their confidence in us, and new investors have been convinced by our unique investment thesis. Today, the French-African Funds have a distinctive strategy in the French small-to-mid cap private equity market. They bring real additionality to every portfolio company, particularly in their African development, alongside management teams and co-shareholders.
The successful first close of FFA III reflects growing investor interest in cross-border growth capital, especially in sectors where French SMEs can play a transformative role in African economies. AfricInvest Europe plans to continue building on this momentum, with further closings expected as the fund scales its investment pipeline.
