AfricInvest Secures €50 Million First Close for Third French-African Fund, Boosting Cross-Border Investment Strategy

Paris-based AfricInvest Europe, a subsidiary of AfricInvest Group, has reached the first close of its third French-African Fund (FFA III), securing commitments of around €50 million. With the milestone, the firm’s French-African Fund strategy now manages approximately €150 million in assets, strengthening its role as a leading investor connecting French small and medium-sized enterprises (SMEs) with African markets.

Launched in 2017, the French-African Fund strategy focuses on taking minority stakes in profitable, high-growth French SMEs that either have existing ties with Africa or plan to expand into the continent. By leveraging AfricInvest Group’s regional expertise and networks, the fund aims to help these companies scale internationally while unlocking new growth opportunities across African economies.

AfricInvest Europe’s Paris-based team works directly with portfolio company management to drive expansion strategies, ensure strong governance, and provide operational support.

In a joint statement, Stéphane Colin and Khaled Ben Jennet, Managing Directors of AfricInvest Europe, welcomed the fund’s progress, "We are delighted with this milestone for the French-African Funds. Many investors have reaffirmed their confidence in us, and new investors have been convinced by our unique investment thesis. Today, the French-African Funds have a distinctive strategy in the French small-to-mid cap private equity market. They bring real additionality to every portfolio company, particularly in their African development, alongside management teams and co-shareholders."

The first close of FFA III highlights growing investor appetite for cross-border growth capital, particularly in sectors where French SMEs can accelerate development across Africa. AfricInvest Europe expects further closings as it expands its investment pipeline and continues building momentum in Franco-African private equity.