BREAKING NEWS, Business
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TERANGA Capital, third African fund sponsored by Investisseurs & Partenaires, I&P, was officially launched in Dakar, Senegal on March 15.
Teranga Capital is an equity impact investment fund dedicated to promising small growing business, SGB, in Senegal, with financing needs comprised between 75,000 and 300,000 euros. Beyond long-term financing in the form of minority equity participations, Teranga Capital provides very close management coaching to support the growth and consolidation of the SMEs in its portfolio such as sales and marketing; accounting, ESG dimensions among others.
“We bring an innovative solution specifically designed to answer the needs of Senegalese SMEs, in terms of financing but also in terms of strategic and managerial support,” Olivier Furdelle, a co-founder and director of Teranga Capital, said.
The I&P has sponsored Teranga Capital as part of its project I&P Développement 2, IPDEV2, project. The IPDEV 2 aims at incubating a network of 10 African investment funds that targets small enterprises and businesses in ten different countries. Two funds are already operational in Niger and Burkina Faso (Sinergi Niger and Sinergi Burkina). As a strategic partner of Teranga Capital, I&P has actively contributed to the launch phase (fundraising, legal support…) and had transferred its skills, tools as well as its investment know-how to Teranga’s team. I&P is also a major investor of the project and contributed around 30 percent of the total equity raised by Teranga, which amounts to 5 million euros.
The I&P has been active for more than 10 years in Senegal and has opened an office in Dakar in 2012. The office has been managed by Mamadou Ndao since January 2016, with the support of Patrice Gomis, I&P representative in Dakar, since 2012. Jérémy Hajdenberg, chief Investment Officer, is in charge of the I&P portfolio in Senegal since the first investment in the country in 2006. Senegal represents one of the I&P’s biggest portfolio, with 8 investees to date in various sectors of activity (irrigation, health, agro-industry, microfinance…). The I&P maintains an active investment pace in the country, especially through its I&P Afrique Entrepreneurs fund (IPAE) that supports small and medium-sized businesses with financing needs comprised between 300,000 and 1.5 million euros.
“With Teranga, the I&P offers a smaller and complementary investment range, that perfectly matches the financing needs of small businesses. This innovative model, which will span across 10 African countries over the next decade, aims to support an emerging network of dynamic and local enterprises in sub-Saharan Africa” explains Jean-Michel Severino, President of Investisseurs & Partenaires.
The I&P is an impact investment group dedicated to African Small and Medium Enterprises. Since its creation in 2002, I&P has invested in about 60 companies, located in 15 African countries and operating in various sectors of activity (health, transport, microfinance…). These enterprises create local “added value” and long-term employment, and generate important social, environmental and governance impact. Created by Patrice Hoppenot and headed by Jean-Michel Severino since 2011, the I&P team comprises about thirty people in Paris and in its seven African offices in Burkina Faso, Cameroon, Casablanca, Ghana, Ivory Coast, Madagascar and Senegal.
The I&P provides capital, technical and strategic support to meet the growth needs of its portfolio companies. The team develops long term partnerships with entrepreneurs, sharing management expertise and knowledge that is useful for improving business strategy, structuring, and success. I&P manages three impact funds, IPDEV, IPDEV2 and IPAE, which represent a total of €75 million.
Teranga Capital is an impact investment vehicle dedicated to financing and supporting high-potential SGBs in Senegal. It aims to bring an innovative solution to fill the existing middle of SME finance between 75,000 and 300,000 euros. Sponsored by the I&P, Teranga is also supported by renowned investors in Senegal: the Sovereign Fund for Strategic Investment, FONSIS, SONATEL, insurance company ASKIA and private inviduals Senegalese investors.
Olivier Furdelle is the co-founder (together with Omar Cissé) and Director of Teranga Capital. Specialised in private equity and SME early-stage investment in Africa, Olivier Furdelle has been assisting investment funds and Development Finance Institutions since 2009 in closing SME transactions in sub-Saharan Africa across a wide variety of sectors.
— Mar 16, 2016 @ 16:40 GMT
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