According to bank provided information, IFC is considering an investment of up to €20 million into Mediterrania Capital IV Mid-Cap, L.P. (“Fund”), a €350 million private equity fund making growth-stage investments in mid-cap companies in North Africa (Morocco, Algeria, Tunisia and Egypt), with an allocation of up to 25% to French-speaking Sub-Saharan Africa. The proposed investment is to be potentially considered alongside a co-investment envelope, the amount of which is yet to be decided. The Fund is registered as a limited partnership and it holds a Global Business License (“GBL”) from the Financial Services Commission of the Republic of Mauritius.
The Fund will seek to take majority or significant minority stakes, via €20-50 million tickets, in mid-cap companies that typically have strong performance, market positioning, growth prospects, potential for regional expansion, and good quality management backed by shareholders that are aligned to the Fund’s objectives. The Fund will seek to make 8-10 investments, focusing on four key sectors: healthcare, FMCG, financial services and manufacturing.
The Fund is seeking to raise €350 million. IFC has proposed a total equity investment of up to €20 million (not to exceed 20% of total commitments) into the Fund.
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