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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

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.

...

Jean-Michel Severino

Chairman of the Supervisory Board

Jean-Michel Severino

Chairman of the Supervisory Board

Jean-Michel Severino chairs the Supervisory Board of I&P, alongside Olivier Lafourcade and Bagoré Bathily.

Jérémy Hajdenberg

Co-CEO of I&P

Jérémy Hajdenberg

Co-CEO of I&P

Jérémy Hajdenberg is Co-CEO of I&P. He joined I&P in 2004

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.

Marguerite Tall

Investment Manager

Marguerite Tall

Investment Manager

Marguerite Tall joined the team in 2021 as Investment Manager for the funds I&P Afrique Entrepreneurs (IPAE).

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.

Samuel Monteiro

ESG & Impact Senior Manager

Samuel Monteiro

ESG & Impact Senior Manager

Samuel joins the team in 2016 as a PhD candidate and Research Officer on ESG and impact issues. 

Sébastien Boyé

Co-CEO of I&P

Sébastien Boyé

Co-CEO of I&P

Sébastien Boyé joined I&P in 2002 and is now Co-CEO of I&P

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.

Vivian Tchatchueng

Investment Manager

Vivian Tchatchueng

Investment Manager

Based in Douala, Vivian is in charge of I&P's portfolio in Cameroon and Central Africa.

Latest IPAE 1 News

Launch of Africa Radio in Abidjan
Entrepreneurs | 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...

PEG Africa raises $25 million to cement its position as market leader in West Africa
Entrepreneurs | 09/04/2019  West-Africa based solar company PEGAfrica just raised $25M, taking its funding total to US$50 million with investors such as CDC group, SunFunder, ResponsAbility, Blue Haven Initiative, Energy Access Ventures, Acumen...   PEG Africa, société leader en Afrique de l'Ouest pour la...

Enko Education prepares African students for their university applications with "Knowledge for College"
Entrepreneurs | 15/04/2019  Enko Education is launching the "Knowledge for College" programme, a twelve-hour e-learning course to support African high school students in their university applications.   Led by guidance counsellors and experts from prestigious universities around the world, these online...

The fund IPAE 1 completes two exits with strategic partners
News | 28/01/2019  The fund I&P Afrique Entrepreneurs 1 (IPAE 1), launched by Investisseurs & Partenaires in 2012, exits from two companies of its portfolio: the group CONERGIES, based in Côte d’Ivoire and Mali, and the Senegalese company Delta Irrigation. Both are made with strategic partners...

A successful crowdfunding campaign for Eden Tree
Entrepreneurs | 20/12/2018  Eden Tree recently completed a crowdfunding round of €30,000 in 4 days to install a solar plant for its factory in Accra, Ghana. This crowdfunding platform was provided by Ecoligo Investments, a crowdinvesting platform for renewable energy projects initiated by ecoligo GmbH with a...

PEG Africa wins top industry award in Ghana
Entrepreneurs | 19/11/2018  PEG Africa is a young company which aims to bring off-grid solar energy access to rural and peri-urban communities in West Africa by providing pay-as-you-go (PAYG) solar home systems to rural and remote customers. The company joined I&P’s portfolio in 2015. PEG Africa has been...

NEST achieves ISO 9001:2015 quality certification
Entrepreneurs | 15/10/2018  On October 10, NEST get ISO 9001:2015 certified. This certification aknowledges the quality of NEST's services: "Patient Reception and Orientation, Consultations, Hospitalizations and Follow-up". "NEST has placed quality management at the core of its strategy since the beginning. This...

Neurotech gets ISO certified for its management system
Entrepreneurs | 20/09/2018    Neurotech, an information and technology provider delivering solutions for Senegalese enterprises, get the ISO 9001:2015 certification, relative to quality management.   The ISO 9000 family addresses various aspects of quality management and contains some of ISO...

Enko Education launches two new schools in Mali and Burkina Faso
Entrepreneurs | 18/06/2018  African International Schools group Enko Education has announced the launch of two new schools, which will open at the beginning of the new academic year in September 2018: Enko Bamako International School in Bamako, Mali and Enko Ouaga International School in Ouagadougou, Burkina Faso....

Article of Pharmivoire Nouvelle (Côte d’Ivoire) : Local production of medicine and accessibility challenges
Entrepreneurs | 25/01/2018  The latest edition of the quarterly magazine « Private Sector and Development » focuses on the issue of African medicine. As recalled by Philippe Abecassis and Nathalie Coutinet in the introduction, access to proper medicine is a major challenge for African countries. The...

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