Development Partners International (DPI) has announced that its African Development Partners III Fund (ADP III) closed at $900 million, exceeding its $800-million target, with an additional $250 million of dedicated co-investment capital.
This brings a total of $1.15 billion for investments on the African continent. The fundraising establishes ADP III as one of the largest funds dedicated to investing global capital in Africa.
The ADP III Fund will invest in established and growing companies in sectors that benefit from the continent’s fast-growing middle class and Africa’s increasing digital transformation.
“Africa remains an exciting investment destination with positive demographics, rising adoption of technology, and rising consumer and business spending,” DPI Co-Founder and CEO Runa Alam said. “Against this backdrop, DPI has continued to generate top quartile returns by leveraging our team’s deep-rooted local expertise across the African continent.”
According to DPI, all the investments meet the highest level of environmental, social and governance standards. DPI uses its proprietary DPI Management System toolkit to deliver impact in line with 10 of the UN Sustainable Development Goals.
Development Partners International
DPI is a UK-based investment fund manager investing in the pan-African region. Alam co-founded the firm in 2007 with the vision to build a premier investment firm with excellence at its core.
With a strategy to build a diversified pan-African portfolio of investments in established and growing companies, DPI backs exceptional businesses to allow African entrepreneurs and CEOs to achieve their ambitions while striving to deliver the highest returns and greatest positive impact for Africa.
The fund has $2 billion in assets under management, having invested in 23 portfolio companies in 29 African countries and 17 industries, employing well over 49,000 people.