The AfricaGrow fund of funds (FoF), launched by Allianz Global Investors, has committed €15m to the Cathay AfricInvest Innovation Fund (CAIF), managed by AfricInvest. AfricaGrow has now made its first two investments of around €15m each into SPE AIF I and the CAIF. SPE AIF I is a target fund of SPE Capital Partners, a private equity fund manager based in Tunisia. It focuses on investments in portfolio companies located in North Africa and with strong growth potential in sectors such as manufacturing, services, logistics, healthcare and education. Currently, the target fund is invested in four portfolio companies in Egypt, Morocco and Tunisia.

Source: The North Africa Journal October 30, 2020 02:15 UTC