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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
Alioun Badara Sane
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.
...
Mialy Ranaivoson
Ny Andraina Andriamanantena
Oty Kévin Aie
Shino Grivel
Latest IPAE 1 News
 I&P publishes Impact and ESG Reports for IPAE 1 and 2 FundsNews | 22/07/2024 I&P has just released its latest impact and ESG reports for the I&P Afrique Entrepreneurs (IPAE) 1 and 2 funds, showcasing the significant contributions of these funds to the African private sector. IPAE are generalist funds that invest in equity and quasi-equity as a minority... |
 AerialMetric, HERi, Ultramaille: I&P partners in Madagascar visit IPAE portfolio companiesNews | 25/04/2024 On Thursday 18 April 2024, AerialMetric, HERi Madagascar and Ultramaille, companies in the I&P Afrique Entrepreneurs 1 and 2 portfolios in Madagascar, received the partners and investors of the IPAE funds. An opportunity for the three companies to share their stories,... |
 I&P releases its Annual Impact ReportNews | 14/12/2023 I&P is thrilled to announce the release of its Annual Impact Report for the year 2023. The report offers a comprehensive overview of I&P's activities, achievements, and impact throughout the year, showcasing the growth and transformational changes spurred by the organization's... |
 Unlocking Catalytic Capital for African SMEs: discover our new reportNews | 10/10/2023 In a new report entitled “Using Catalytic Capital to Foster African Entrepreneurs in Underserved Markets,” published in partnership with the Catalytic Capital Consortium, I&P showcases the effectiveness of catalytic capital in supporting African SMEs, offering recommendations to... |
 I&P organizes the 9th annual Entrepreneurs' Seminar, bringing together 60 African entrepreneursEntrepreneurs | 10/07/2023 From June 14 to 17, I&P and The African Club of Entrepreneurs hold the 9th edition of the Entrepreneurs’ seminar. This 3-day training session dedicated to digital gathered about sixty African entrepreneurs operating in a dozen sub-Saharan African countries. Discover the pictures... |
 IPAE2 and Adiwale Fund I invest in VRS AfricaEntrepreneurs | 06/03/2023 Voltacars Rental Services (VRS), a full service car rental company operating in Ghana, Côte d'Ivoire and Senegal, has secured a new round of financing from Investisseurs & Partenaires (I&P) and Adiwale Partners. VRS Africa currently manages a fleet of 800 modern, low-carbon... |
 I&P publishes its Annual Impact ReportNews | 13/12/2022 I&P is pleased to present its Annual Impact Report, that presents the collective results of our different programs and funds. The report presents an overview of I&P's activities and impact methodology and goes through our six impact pillars : developing Africa entrepreneurship... |
 "Manifesto for the financing and support of entrepreneurship in Africa"News | 27/10/2022 As I&P celebrates its 20th year of activity, the team is pleased to present its "Manifesto for the financing and support of entrepreneurship in Africa. Based on 20 years of learning, entrepreneurial adventures, successes as well as failures and challenges, this manifesto aims to... |
 I&P presents the annual ESG Impact reports of the IPAE 1 and IPAE 2 fundsNews | 29/08/2022 2022 marks the twentieth anniversary since the creation of I&P. These 20 years of funding and advocating for African entrepreneurship have constantly strengthened our convictions about the importance of relying on a responsible private sector to contribute to Africa's development. The... |
 "Lead Campus - Sustainable Leadership In Africa'': Mialy Ranaivoson and Job Zongo complete their journeysNews | 08/07/2022 Mialy Ranaivoson and Job Zongo, respectively Investment Director of the IPAE fund and Managing Director of Sinergi Burkina, graduate with their "Lead Campus: sustainable leadership in Africa" 2022 executive certificates. The closing ceremony of this second class,... |