Soros invests $10m in African private equity fund
Posted on: 18 May, 2020 at 8:48 AM
The Soros Economic Development Fund (SEDF) has committed $10 million to Alitheia IDF, a private equity fund managed by a joint venture between two established managers, Alitheia Capital of Nigeria, and IDF Capital of South Africa.
Alitheia IDF is the first women-led private equity fund in the region. The fund was launched to specifically target gender-diverse and high-growth African small and medium-sized enterprises that improve the lives of women as business leaders, employees, community members, suppliers, and customers, in turn enhancing corporate governance, decision making and innovation across the continent.
Alitheia IDF will invest between $1 million and $5 million, with the potential for additional funding at a later stage, into small and medium-sized enterprises that present an opportunity to promote gender equality. Investments are made in local currencies across Southern and Western Africa, with a focus on sectors with a high representation of female entrepreneurs and strong prominence of women working in the value chain. These sectors include agribusinesses, consumer goods, and essential services.
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