Adenia Capital (IV) Parallel LP (FMO-50358)

Regions
  • Africa
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Mar 31, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Adenia Partners Ltd.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 11.06 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 10.00 MLN
Converted using 2016-11-01 exchange rate.
Bank Documents
Primary Source

Original disclosure @ FMO website

Updated in EWS Dec 11, 2023

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the FMO, the Fund provides scarce, high risk capital and hands-on support to SMEs in low income countries (including post-conflict countries); as a result of their majority/hands-on approach, Adenia creates impact on employees via job and wealth creation; and on environmental and social (E&S) via active involvement in improving (and driving) the ESG management system of its investee companies.

Adenia IV provides an opportunity to back a strong, locally based and experienced fund manager with a proven track record (both financial and developmental) in the SME and smaller corporate segment. Its strategy of majority ownerships allows Adenia to access a unique set of opportunities (virtually no competition from other fund managers; proprietary deal flow) as well as to apply an active/hands-on investment approach as they aim to drive the operational, ESG and exit agendas in portfolio companies. This strategy has proven to be a success in creating value and promoting ESG best practices among portfolio companies.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the FMO, Adenia Capital IV will be the fourth fund to be managed by Adenia Partners Ltd. Adenia Capital IV will be a generalist PE fund making control investments in SMEs in underserved PE markets (Indian Ocean and West Africa).


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

FMO South Africa:

Phone: +27 11 507 2500
Email: joburg-office@fmo.nl

Financial Intermediary - Adenia Partners Ltd.:

Address: 2nd floor, The Country Side, Vivea Business Park, St Pierre, Mauritius
Phone: +230 460 4000
Email: s.cecile@adenia.com
Website: https://www.adenia.com/

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism.

How it works

How it works