AfricaGrow invests US$17M in two Tunisian funds in its pan-African growth strategy

TUNISIA – AfricaGrow, an investment fund set up by Allianz Global Investors, a subsidiary of the German insurance group Allianz, and the German Development Finance Bank (KfW), has made two commitments of €15 million (US$17.5m) each for the benefit of two funds in Tunisian, SPE AIF I and Cathay AfricInvest Innovation Fund (CAIF). AfricInvest, based in Tunisia, is pursuing a pan-African growth strategy through its VC fund, CAIF. CAIF has invested in three portfolio companies so far. It focuses on potential market leaders whose goal is to introduce established global…

Read More

German fund of funds AfricaGrow provides equity capital for SMEs and start-ups

AFRICA – Allianz Global Investors, a global investment management firm, has teamed up with the KfW Development Bank, a German government-owned development bank, to launch a fund of funds designed to provide financial resources for African private equity and venture capital funds. The new venture, which is known as AfricaGrow, is designed to fund 150 small- and medium-sized enterprises and start-ups in reform-orientated African countries through local funds by 2030. More than 25,000 new jobs will be created. The project, which has the backing of Germany’s Federal Ministry for Economic…

Read More