Miarakap celebrates 5 years of activity in Madagascar and closes a second round of financing of 6M USD

2023 marks the 5th year of Miarakap's activity in Madagascar. Created in 2018 by Emmanuel Cotsoyannis with the support of fifteen investors including Société Générale Madagascar, Axian, BNI Madagascar, Adefi and Investisseurs et Partenaires (I&P), Miarakap has taken up the challenge of financing a new generation of ambitious and responsible entrepreneurs with high growth potential and Environmental, Social and Governance (ESG) impact.

 Download the press release (Fr)

In 5 years of activity, and thanks to a first round of financing of 11. 5 billion MGA, Miarakap has built a team of young professionals in the field of financing and business support and has financed 10 companies in various sectors of activity: education (Vatel), micro-finance (APEM-PAIQ), agribusiness (Malakass, Exa), fashion and aesthetics (Stephaina Beauty), digital technology (Hairun Technology, SmartPredict, Supermarché.mg), and catering (Le Complexe, Chicky).

Building on these first years of success, learning and experience, Miarakap is now raising its ambitions and giving itself the means to achieve them. Miarakap welcomes 9 new reference investors, who have joined an already very solid round of financing: the Foundation for Protected Areas and Biodiversity of Madagascar (FAPBM), the BMOI, the OTI Group, the Sahanala social enterprise, the Satrana Investments fund as well as several individual entrepreneurs.

With a total funding round of MGA 25 billion, Miarakap Investissement aims to finance 3 to 4 new SMEs each year, for investment amounts revised upwards, around MGA 2 billion per investment and expand its activities for now largely concentrated in the capital Antananarivo.

With less than 400,000 employees, half of which work in large companies, and 94% of the active population in the informal economy, these entrepreneurs are very insufficiently promoted, supported and financed. Miarakap's mission is to finance talented and responsible entrepreneurs with high growth potential, with patient and demanding capital; to accompany even more entrepreneurs, with support programs oriented towards direct economic, social and environmental impact objectives; to promote the entrepreneurial model as a lever for poverty reduction, economic growth, social innovation and environmental conservation - Emmanuel Cotsoyannis, CEO of Miarakap

About Miarakap

Created by Emmanuel Cotsoyannis, a French-Malagasy entrepreneur, Investisseurs & Partenaires (I&P), and a group of renowned shareholders, Miarakap has developed three complementary lines of business:

• Capital investment and support for SMEs with high growth and impact potential, whose equity needs are between MGA 100 million and MGA 2 billion.
• Management of financing, support and promotion programs for entrepreneurs with social and environmental impact, financed by international donors.
• Consulting with development actors to design and implement entrepreneurship support programs.

Through its various activities, Miarakap manages 20 million USD and relies on a team of 40 financing and coaching professionals to carry out its missions.