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Project Summary Note - Adiwale fund I – Multinational
Equity investment in Adiwale Fund1 (“AF1”or“theFund”), a first generation private equity fund which will invest in high growth potential SMEs in Francophone West Africa(FWA). The Fund will target three key sectors:consumers (consumer goods & services,education and health); business services( transport, logistics, IT, internet services, construction-related services)and manufacturing (pharmaceuticals, agri-processing, chemicals, etc.).AF1’s geographical focus will be on a hand ful of countries where economic prospects, and the Fund’s networks,result in opportunities. Primary target countries will include Cote d’Ivoire, Senegal, Burkina Faso and Mali while secondary target countries will include Togo, Benin, Guinea.These countries are current ly under served by the PE market and the Fund is expected to enjoy low levels of competition as most competitor shave a larger investment ticket. The Fund’s average deal size will range from EUR3 to 8 million.