Strategic partnership with Team Europe (EBRD, Proparco, DEG), the World Bank IFC and one of the largest Gulf Cooperation Council investors (QIA) to support a Pan-African investment platform investing in mid-cap companies tackling the EU's Global Gateway priorities. The operation is strongly aligned with the EIB Global Strategic Orientation including (i) 50% allocation to North Africa, EU Southern Neighbourhood, ii) significant EU nexus expected to generate EU Africa trade volume and various EU financing opportunities. The EIB will invest in a Luxembourg based vehicle.

The project aims to support private sector development across Africa by increasing access to patient risk capital for mid-cap companies. Building on the successful strategy of its predecessor fund, the operation will make growth equity investments through majority positions in mid-cap companies across sectors including healthcare, fast-moving consumer goods (FMCG), training, digital infrastructure, and financial services. These investments are expected to foster the growth and institutionalisation of African private companies and contribute to Africa's economic transformation. The fund manager will seek to create value through a hands-on approach, contribute to sustainable local job creation and enhance the resilience of portfolio companies in the face of supply disruptions or demand shocks, in addition to its catalytic effect.