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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
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
IPAE 1's governance
IPAE 1 is governed by 3 bodies:
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
Ando Annette
Anna Traoré
Ben Kouakou
Ben Kouakou
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
Fitia Fonenantsoa
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
Francis Owusu
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.
...
Jean-Michel Severino
Jérémy Hajdenberg
Landry Parkouda
Marguerite Tall
Mialy Ranaivoson
Oty Kévin Aie
Samuel Monteiro
Sébastien Boyé
Shino Grivel
Vivian Tchatchueng
Latest IPAE 1 News
 Impact investment in Madagascar: I&P completes its exit from UltramailleEntrepreneurs | 27/01/2022Since the first exit from the Mali based company CAMED in 2009, I&P has made 30 exits to date. We have published a summary note on our exit experience , recalling the key issues and looking back at some emblematic exits, including Ultramaille. Founded in 1998, Ultramaille... |
 I&P publishes its second global impact reportNews | 20/12/2021 Investisseurs & Partenaires publishes the second edition of its annual impact report, a summary of our impact mission and the most significant achievements and progress made in 2021. In a time period strongly marked by the Covid-19 crisis, I&P's teams have grown stronger, new... |
 Publication of ESG / Impact reports for IPAE 1 and IPAE 2 fundsNews | 18/08/2021 Each year, I&P produces an impact report to assess the progress of projects and analyze the environmental, social and governance (ESG) performance of our investments. The latest IPAE 1 and IPAE 2 reports are online: Read the IPAE 1 report Read the IPAE 2 report... |
 PEG Africa sponsored by USAID to bring electrification to off-grid health clinics in AfricaEntrepreneurs | 27/10/2020 PEG Africa is one of the 9 solar energy companies sponsored by USAID to provide reliable, affordable off-grid electricity to nearly 300 healthcare facilities in sub-Saharan Africa. PEG Africa aims to bring off-grid solar energy access to rural and peri-urban communities in West Africa... |
 Publication of the ESG and Impact reports of IPAE 1 and IPAE 2News | 08/07/2020 Inaugurated in 2012, I&P Afrique Entrepreneurs 1 (IPAE 1) fund closed its investment period in 2017 with 29 African SMEs in its portfolio. The publication of this annual report, in a period of disinvestment, thus allows us to evaluate the main impacts of the fund and its portfolio... |
 An article relates the story of Ghanaian company Eden TreeEntrepreneurs | 24/06/2020 The online magazine "How we made it in Africa" publishes an interview of Catherine Krobo Edusei, CEO and founder of Eden Tree. The company, supported by IPAE 1 since 2015, has become the leading independent provider of fresh fruits, vegetables and herbs in Ghana. The article relates the... |
 Enko Education opens a new primary school in Burkina FasoEntrepreneurs | 10/06/2020 The African international network Enko Education announced today the launch of a new primary school in Ouagadougou, Burkina Faso. In order to meet the growing demand from parents, this school will be the primary section of the international school Enko Ouaga Campus. Enko Ouaga Campus... |
 I&P presents the book " Bâtisseurs d'Afrique " : 11 inspiring portraits of African entrepreneursNews | 21/04/2020 I&P is pleased to announce the publication of the book Bâtisseurs d'Afrique, published by Editions Eyrolles (in French only for now). Its author, Nathalie Madeline, met with 11 entrepreneurs accompanied by I&P, and traces their different journeys. In this uncertain time due to the... |
 3 questions to... Frédéric Wybo, Director of UltramailleEntrepreneurs | 29/01/2020 Based in Madagascar for nearly 30 years, Frédéric Wybo is the founder and current CEO of Ultramaille, a Malagasy company specialized in mid- and high-end fashion knit wear. Ultramaille has been supported by I&P since 2016, through its fund I&P Afrique Entrepreneurs 1. The team... |
 Launch of Africa Radio in AbidjanEntrepreneurs | 12/06/2019 Listened to on the FM band in Paris and on social networks in Africa and Europe, Africa Radio (formerly Africa N°1) now broadcasts in Abidjan on 91.1 FM. The inauguration ceremony to celebrate this launch took place in Abidjan in the presence of Mr. Sidi Touré, Minister of... |