The International Finance Corporation is considering an investment of up to $50 million in Adenia Entrepreneurial Fund I, a pan-African private equity fund managed by Adenia Partners, as part of efforts to expand financing for small and medium-sized enterprises across Africa.
According to the World Bank Group member, the proposed commitment includes a direct investment of $30 million in the fund, alongside a $20 million co-investment facility. The financing is aimed at addressing the persistent funding gap faced by African SMEs, which remain a critical but structurally underfunded segment of the continent’s economy.
The fund is expected to invest across sectors such as light manufacturing, consumer goods and services, renewable energy, healthcare and education, with a focus on strengthening business competitiveness and supporting more resilient and sustainable economic growth.
Adenia Entrepreneurial Fund I plans to acquire majority stakes in its portfolio companies, enabling it to drive operational improvements, strengthen corporate governance and support long-term growth strategies. The fund manager will work closely with investee companies on value creation, growth planning, access to sector expertise and technical assistance.
The proposed IFC investment is subject to approval and is scheduled to be presented to the institution’s board of directors on February 11, 2026.
The fund is targeting total commitments of between $150 million and $180 million and plans to invest in about 10 African companies, with individual investments ranging from $10 million to $20 million, mainly in growth-stage businesses. In addition to financial returns, the fund aims to deliver social impact through job creation, particularly for young people and women, reinforcing the role of private equity in supporting Africa’s SME-driven economic development.
