Investment Manager (Fund of Funds)Submitted by Admin on Wed, 03/01/2023 - 11:20
About Investisseurs & Partenaires
Investisseurs & Partenaires (I&P) is an impact investment group exclusively focused on Africa’s SMEs with EUR 400m in assets under management. Since 2002, I&P has financed and supported 250 entrepreneurs in some 20 countries in Sub-Saharan Africa, and sponsored 7 African SME funds; I&P’s team is based in 10 countries including Ghana, Kenya, Senegal, Mali, Niger, Burkina Faso, Ivory Coast, Cameroon, Madagascar, etc. (see our website: www.ietp.com/en).
Our mission is to foster the emergence of entrepreneurs and SMEs, which are at the core of an inclusive growth and sustainable development in Africa. I&P manages several investment funds supported by development finance institutions, corporates and HNWIs.
The Mastercard Foundation Africa Growth Fund is a US$ 200m Fund-of-Funds created by Mastercard Foundation and a consortium of partners led by MEDA. I&P is the Fund Advisor for this Fund-of-Funds, in charge of sourcing, assessing and supporting the portfolio of investment vehicles.
The MFAGF invests in gender-lens and women-led investment vehicles across Sub-Saharan Africa with a focus on first-time and emerging fund managers. It aims to accelerate the growth of small and medium-sized enterprises (SMEs) across Africa, with the goal of creating work opportunities for young people – particularly young women – and building long-term economic resilience on the continent. The initiative also includes a significant Business Development Services platform that benefits both SMEs and investment vehicles.
More information is available on https://africagrowthfund.org/
About the role
I&P is seeking an Investment Manager who will be responsible for implementing the investment strategy, in particular to source, due diligence and support several new investment vehicles on the continent. Under the supervision of the Director, he/she will work closely with the entire Fund-of-funds team (Investment Managers, Impact Specialist, Middle Office Manager, etc.), and travel regularly especially within East and West Africa.
This is a rare opportunity to contribute tangibly to the growth of the African impact investing sector and to the mainstreaming of gender-lens investing, via backing emerging fund managers dedicated to financing African SMEs.
Tasks and Responsibilities
Sourcing and due diligence
- Actively research fund investment opportunities across the continent, especially in the asset classes of venture capital, private debt, early-stage and growth-stage private equity
- Comprehensively assess investment vehicles including their investment strategy, portfolio and pipeline, impact framework, gender-lens methodology, modeling, legal and tax structuring, organization, etc., via both desk reviews and on-site due diligence
- Analyze the track record of fund managers, and identify gaps and capacity-building needs
- Support fund managers in their fund design during their launch phase (investment strategy, impact framework, financial model, fund structuring, fundraising strategy, etc.)
- Negotiate fund investment terms and contribute to preparing the fund legal documentation, with the support of I&P’s legal team
- Draft memos to be presented to the Fund-of-fund Investment Committee
- Execute disbursements
Capacity-building and monitoring
- Monitor the performance of the investment vehicles and participate to their governance (in particular Advisory Boards)
- Support the fund managers in implementing a holistic gender-lens-investing approach
- Contribute to fundraising roadshows of the investment vehicles when acting as anchor investor
- Build the capacity of the fund managers and investment vehicles in portfolio, where gaps are identified
- Source fundraising and other partnership opportunities for the investment vehicles
- Contribute to the Fund of Fund’s learning agenda
Program Reporting & Communication
- Monitor the investment vehicles reporting (financial and impact reporting) and prepare technical reports
- Ensure legal monitoring and archiving, control of procedures, monitoring of impact indicators
- Ensure program visibility and successfully promote events, publications, or communications pieces, including by representing I&P and the Fund-of-fund in different fora
- 5-7 years of experience investing in African SMEs as part of an investment team in East or West Africa
- Prior experience investing in funds as LP, or raising, designing or structuring SME-focused investment funds would be a very strong advantage.
- Proven and deep competence in at least one asset class among: seed-stage venture capital, early-stage and growth private equity, and SME private debt.
- Working experience and strong networks in East and/or West Africa
- University degree, MBA or equivalent, with a specialization in entrepreneurship, finance, management or business strategy
- Open-mindedness, strong ability to adapt and learn in a fast-paced environment
- Excellent analytical, synthesis, and writing skills
- Fit with I&P’s values: entrepreneurial spirit, commitment to development, integrity and high standards
- Passion for the emergence of new fund managers and investment vehicles to finance African SMEs
- Commitment to gender-lens investing and principles of diversity, equity and inclusion
- Full spoken and written English required; fluency in French or at least an interest in learning French would be an advantage as I&P’s pan-African team is bilingual.
- Mastery of Office suite
The position will be based in I&P’s offices in Nairobi, Kenya or Accra, Ghana.
Start date: as soon as possible. Remuneration package commensurate with experience.
How to Apply
Email email@example.com with the subject Investment Manager, LAST NAME by March 15th and attach:
- Your CV (no more than 2 pages), and
- A one-page cover letter, including your salary expectations, and 3 professional references
We thank you for your application. Only shortlisted candidates will be contacted.