21-11-2023; Mauritius. Mediterrania Capital Partners, a Private Equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, is pleased to announce that Bpifrance will be joining the MC IV fund to support mid-cap companies in North and Sub-Saharan Africa. Bpifrance will invest through Averroès, its Funds of funds dedicated to Africa.
With two investments already executed (Laprophan and Cash Plus), MC IV aims to invest up to €350 million in African businesses to help them reach their full operational and growth potential. Mediterrania Capital Partners’ funds target mid-cap companies operating in crucial growth sectors, including Financial Services, Tertiary Education, FMCG, Construction and Consumer Staples.
Through the Averroès scheme, Bpifrance has been a strong financial supporter of Mediterrania Capital Partners’ funds, collaborating with the Private Equity firm for the last 10 years, having invested in the two previous funds, MC II and MC III.
Since Averroès was launched in 2003, Bpifrance has invested over €205 million on the continent in over 30 private equity and venture capital funds. As of today, its Funds of funds counts more than 160 companies in its portfolio in 40+ African countries and many sectors, including Industry, Agribusiness, Health and Transport.
Albert Alsina, Founder and CEO of Mediterrania Capital Partners, said: “We are delighted to continue partnering with our long-time investor Bpifrance. After one decade of collaboration, we are very pleased with the results achieved so far and excited to welcome them to MC IV. Thanks to Bpifrance’s financial and strategic support we will continue to partner with high-growth African companies, building solid foundations and implementing the necessary strategies to ensure sustainable and long-term development.”
Isabelle Bébéar, Head of International and European Affairs at Bpifrance, added: “We are happy to join the MC IV fund, so consolidating 10 years of collaboration in support of North African and Sub-Saharan companies with Mediterrania Capital Partners. We believe such collaboration is key in supporting the development of mid-cap companies and helping them reach their full operational and growth potential.”
Over the past 10 years, Mediterrania Capital Partners has invested in 17 African SMEs and mid-size companies, delivering aggregated annual revenues of €1.5 billion and employing more than 22,000 people.