Private equity firm Adenia Partners has successfully closed its Adenia Entrepreneurial Fund I (AEF I) at its target size of $180 million. The fund, which focuses on small and medium-sized enterprises (SMEs) across Africa, reached its final close in less than a year after its launch.
According to the firm's announcement, the fund attracted capital from a diverse group of institutional investors, including development finance institutions, fund-of-funds, family offices, and high-net-worth individuals. The capital will be used to provide growth equity to established, founder-owned SMEs in sectors such as manufacturing, logistics, agribusiness, and services.
Adenia Partners, which has offices in Mauritius, Abidjan, Accra, and Cape Town, stated that the fund's strategy is to partner with entrepreneurs to help scale their businesses, improve governance, and enhance environmental and social standards. The rapid fundraising is seen as a sign of continued investor confidence in the African mid-market segment.
