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About IPAE 1

I&P Afrique Entrepreneurs 1 (IPAE 1) is the second fund launched by I&P to support entrepreneurs seeking economic growth and societal impact.

It targets SMEs operating in Sub-Saharan Africa and the Indian Ocean whose financing needs are higher than the companies supported by IPDEV 1 and IPDEV 2, ranging from €300,000 to €1,5 million.

 

 Click here to read more about IPAE's successor fund, IPAE 2

 

Calendar        2012-2017
Size                €54 million
Status            Fully invested
Portfolio         29 companies, incl. 7 exits
Tickets           €300,000 - €1,5 million
Key takeaways

⇒ 12 different countries, half of which are classified as Least Developed Countries.

The companies operate in a dozen different sectors (Food, Microfinance, Construction, Transport, Health, Services, IT, Energy...).

A combination of companies at different stages of growth, with around ¼ investing in start-ups and ¾ investing in companies in expansion phase.

IPAE1's partner companies are showing strong growth, both  in turnover and number of employees.

The fund has fully exited 2 companies and has completed 8 partial exits or exits in progress.

 

IPAE 1's portfolio

Pecheries-du-Sud

Pêcheries du Sud

Société Malienne de Blanchisserie

Carrières et Chaux du Mali

Neurotech

Ultramaillle

Barajii

Barajii

Enko Education

Africa Radio

Africa Radio

investisseurs et partenaires tincy boulangerie

Tincy Boulangerie

I&P Madagascar Scrimad

SCRIMAD

PEG Africa

Ghana Eden Tree Investisseurs et Partenaires

Eden Tree

ENVAL Laboratoire

Investisseurs et partenaires iot madagascar

Indian Ocean Trepang (IOT)

Nest clinique investisseurs partenaires

NEST

Trianon Homes

ITG Store

Sofamac

delta senegal i&p

Delta Irrigation

RICA Services Côte d'Ivoire I&P

Conergies

Pharmivoire Nouvelle I&P

Pharmivoire Nouvelle

Bakou Logistics

Carrières du Moungo

Acep Burkina

Finance Trust Bank

ACEP Madagascar investisseurs partenaires

Acep Madagascar

Banque de Développement des Comores

IPAE 1's governance

IPAE 1 is governed by 3 bodies:

• Chaired by Jean-Michel Severino, the board is composed of:
• Ms Annie Ferton
• M. Mamadou Lamine Loum
• M. Abdoulaye Bio Tchané
• M. Olivier Lafourcade
• M. Roshan Nathoo
• M. Philippe Ledesma

Every month the following professionals from the private equity and the development sectors meet to discuss on ongoing projects and investment decisions.

  • Olivier Lafourcade, Consultant, former director at the World Bank
  • Luc Rigouzzo, CEO of Améthis Finance, former CEO of Proparco
  • Jean-Michel Severino, CEO of I&P and former CEO of AFD (2001-2010)
  • François Wohrer, CEO of Compagnie Financière Degroof and former Senior Investment Officer at IFC 
  • Hervé Schricke, President "Club Afrique", AFIC
  • Ann Katrin Dolium, Expert on ESG and CSR issues
  • A member of the I&P team

Composed of representative of key investors of the fund, it meets at least twice a year to give another perspective on potential conflicts of interest and on the funds activities.

IPAE's investment team

Alioun Badara Sane

Investment Officer

Alioun Badara Sane

Investment Officer

Alioun a rejoint l’équipe de I&P Côte d’Ivoire en tant que Chargé d’Investissement sur le programme IPAE. 

Ando Annette

Responsable Back Office

Ando Annette

Responsable Back Office

Based in Antananarivo - Madagascar, Ando Annette has been Back Office Manager for IPAE funds since 2023.

Anna Traoré

Investment Manager

Anna Traoré

Investment Manager

Anna Traoré joined the team in June 2021 as Investment Manager for the fund I&P Afrique Entrepreneurs (IPAE).

Ben Kouakou

Investment Director

Ben Kouakou

Investment Director

Ben Kouakou joined I&P in 2021 and is operating as Investment Director for the funds I&P Afrique Entrepreneurs (IPAE 1 and IPAE 2).

...

Fitia Fonenantsoa

Investment Officer

Fitia Fonenantsoa

Investment Officer

Fitia joined I&P Madagascar's investment team as a Investment Officer in December 2021 and is in charge of developing new investments and monitoring the investment portfolio of IPAE in...

Francis Owusu

Investment Manager

Francis Owusu

Investment Manager

Francis joined the team in 2018 and operates as Investment Director in the Accra office. He manages the activities of IPAE 1 and IPAE 2 in Ghana and Nigeria.

...

Landry Parkouda

Investment Manager

Landry Parkouda

Investment Manager

Landry joined the IPAE investment team in 2018. Based in Ouagadougou, he is in charge of the portfolio in Burkina Faso, Mali and Niger.

Mialy Ranaivoson

Investment Director

Mialy Ranaivoson

Investment Director

Mialy is Investment Director and also Director of Impact and ESG for the IPAE funds. She joined I&P in 2012. 

Ny Andraina Andriamanantena

Chargée Impact et ESG

Ny Andraina Andriamanantena

Chargée Impact et ESG

Based in Madagascar, Ny Andraina joined I&P in 2023 as Impact and ESG Officer for the IPAE funds.

Oty Kévin Aie

Investment Officer

Oty Kévin Aie

Investment Officer

Kevin joined I&P in 2019 as an Investment Officer for IPAE 1 & 2 in Côte d'Ivoire.

Shino Grivel

Finance and Operations Oversight Director

Shino Grivel

Finance and Operations Oversight Director

Shino joined I&P in 2019 and works as Finance and Operations Oversight Director for the funds IPAE.

Latest IPAE 1 News

I&P publishes Impact and ESG Reports for IPAE 1 and 2 Funds
News | 22/07/2024  I&P has just released its latest impact and ESG reports for the I&P Afrique Entrepreneurs (IPAE) 1 and 2 funds, showcasing the significant contributions of these funds to the African private sector. IPAE are generalist funds that invest in equity and quasi-equity as a minority...

AerialMetric, HERi, Ultramaille: I&P partners in Madagascar visit IPAE portfolio companies
News | 25/04/2024    On Thursday 18 April 2024, AerialMetric, HERi Madagascar and Ultramaille, companies in the I&P Afrique Entrepreneurs 1 and 2 portfolios in Madagascar, received the partners and investors of the IPAE funds. An opportunity for the three companies to share their stories,...

I&P releases its Annual Impact Report
News | 14/12/2023  I&P is thrilled to announce the release of its Annual Impact Report for the year 2023. The report offers a comprehensive overview of I&P's activities, achievements, and impact throughout the year, showcasing the growth and transformational changes spurred by the organization's...

Unlocking Catalytic Capital for African SMEs: discover our new report
News | 10/10/2023  In a new report entitled “Using Catalytic Capital to Foster African Entrepreneurs in Underserved Markets,” published in partnership with the Catalytic Capital Consortium, I&P showcases the effectiveness of catalytic capital in supporting African SMEs, offering recommendations to...

I&P organizes the 9th annual Entrepreneurs' Seminar, bringing together 60 African entrepreneurs
Entrepreneurs | 10/07/2023  From June 14 to 17, I&P and The African Club of Entrepreneurs hold the 9th edition of the Entrepreneurs’ seminar. This 3-day training session dedicated to digital gathered about sixty African entrepreneurs operating in a dozen sub-Saharan African countries. Discover the pictures...

IPAE2 and Adiwale Fund I invest in VRS Africa
Entrepreneurs | 06/03/2023  Voltacars Rental Services (VRS), a full service car rental company operating in Ghana, Côte d'Ivoire and Senegal, has secured a new round of financing from Investisseurs & Partenaires (I&P) and Adiwale Partners. VRS Africa currently manages a fleet of 800 modern, low-carbon...

I&P publishes its Annual Impact Report
News | 13/12/2022  I&P is pleased to present its Annual Impact Report, that presents the collective results of our different programs and funds. The report presents an overview of I&P's activities and impact methodology and goes through our six impact pillars : developing Africa entrepreneurship...

"Manifesto for the financing and support of entrepreneurship in Africa"
News | 27/10/2022  As I&P celebrates its 20th year of activity, the team is pleased to present its "Manifesto for the financing and support of entrepreneurship in Africa. Based on 20 years of learning, entrepreneurial adventures, successes as well as failures and challenges, this manifesto aims to...

Rapport ESG / Impact IPAE1 IPAE2 Mars 2022
I&P presents the annual ESG Impact reports of the IPAE 1 and IPAE 2 funds
News | 29/08/2022  2022 marks the twentieth anniversary since the creation of I&P. These 20 years of funding and advocating for African entrepreneurship have constantly strengthened our convictions about the importance of relying on a responsible private sector to contribute to Africa's development. The...

Mialy Ranaivoson Job Zongo Lead Campus 2022
"Lead Campus - Sustainable Leadership In Africa'': Mialy Ranaivoson and Job Zongo complete their journeys
News | 08/07/2022    Mialy Ranaivoson and Job Zongo, respectively Investment Director of the IPAE fund and Managing Director of Sinergi Burkina, graduate with their "Lead Campus: sustainable leadership in Africa" 2022 executive certificates.   The closing ceremony of this second class,...

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