Alitheia IDF Fund reaches second close at $75m

Posted on: 19 April, 2020 at 7:30 PM

The Alitheia IDF Fund has reached a second close at $75 million and will announce its first investments soon, according to a TechCabal report.

Alitheia IDF is a fund supporting women-owned and -led businesses, to boost women’s economic empowerment and access to finance in sub-Saharan Africa.

A joint venture between Alitheia Capital in Nigeria and IDF Capital in South Africa, Alitheia IDF was seeded with $12.5 million from the African Development Bank.

The fund targets SMEs that address unmet demand for essential goods and services and operate in priority sectors where women entrepreneurs are dominant both as producers and consumers, such as agribusiness and consumer goods.

The fund’s investors include the African Development Bank, the Bank of Industry Nigeria, FinDev Canada, and the Dutch Good Growth Fund.

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