ABOUT US
Investisseurs & Partenaires (I&P) is a pioneering impact investment group entirely dedicated to financing and supporting small and medium-sized enterprises (SMEs) and start-ups in Sub-Saharan Africa.
Who are we?
Since its creation in 2002, Investisseurs & Partenaires (I&P) is dedicated to promoting sustainable and profitable small and medium sized African companies with high local added value. I&P has developed different approaches combining financing and support to serve this mission and meet the needs of African SMEs, according to their maturity, size and financing requirements.
I&P was launched by Patrice Hoppenot in 2002 and managed by Jean-Michel Severino from 2011 to 2021. Jean-Michel Severino previously served as Managing Director of the Agence Française de Développement (2001-2010) and Vice President for Asia at the World Bank (1996-2000). Since 2021, I&P has been co-managed by Sébastien Boyé and Jérémy Hajdenberg, who joined the company in 2002 and 2004, respectively.
The team currently comprises around 180 people, based in France and ten African offices (Burkina Faso, Cameroon, Côte d'Ivoire, Ghana, Kenya, Madagascar, Mali, Niger, Ouganda and Senegal).
Key Figures
22
YEARS OF EXPERIENCE
180
TEAM MEMBERS
11
OFFICES
400
MILLION € RAISED
Our story
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The Beginnings
Patrice Hoppenot, the former co-founder of BC Partners, started a venture capital initiative dedicated to African entrepreneurs. His idea was to use his skills and experience in private equity to support a greater cause: the economic development of Sub-Saharan Africa.
I&P Développement (IPDEV), a fund with €2m of registered capital, was launched thanks to Patrice and its fellows. In the same year, Patrice hired the first investment officer of I&P, Sébastien Boyé.
In 2003, I&P made its first investments in African-based Small and Medium Enterprises (SMEs): CAMED, the third pharmaceutic distributor in Mali and the only actor selling generic drugs and LEGENI, the first private laboratory for geothermic and environmental studies in Niger.
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A Learning Experience
In 2006 I&P realized its second increase in capital and for the first time opened up its capital to Development Financial Institutions (in other words to Official Development Assistance). This growth of capital was key to ensure the sustainability of the project and to validate its economic model. The European Investment Bank and Proparco (the private branch of the French Development Agency) both invested €3m in IPDEV.
Looking at it now, the emergence of I&P was the symbol of a deeper shift in development aid: the rise of the private sector in the funding and dispatching of Official Development Assistance.
In 2007, five years after its creation, I&P’s portfolio included a dozen of SMEs and Microfinance institutions, in Cameroon, Mali, Niger, and Senegal. There were 3 full-time investment officers: Sébastien Boyé, Jérémy Hajdenberg, and Pierre Carpentier.
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New Leadership and Scaling Up
In 2011, Patrice Hoppenot retires and hands over the reins of the business to Jean-Michel Severino, former Executive Director of the French Development Agency (2001-2010). This transition boosted a strategic shift already underway at I&P: the group had to adapt the models of its impact funds to the size of the investment tickets.
To efficiently reach start-ups and very small enterprises I&P developed IPDEV2, an innovative program consisting in incubating and sponsoring 10 African-based impact funds in 10 countries. These impact funds would be managed by African teams and mostly capitalized by African investors. They aim to locally develop a strong base of entrepreneurs by supporting start-ups and young enterprises showing a substantial growth potential and whose financial needs will lie between €30k and €300k.
Read more on the program IPDEV2
In parallel I&P launched a pan-African fund, I&P Afrique Entrepreneurs (IPAE), provided with €54m and targeting higher investment tickers to support SMEs and entrepreneurial projects that would be more mature.
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Consolidation and Deployment of Local Teams
With the launch of IPAE, I&P opened its first African-based offices in order to facilitate the business development and the day-to-day collaboration with portfolio companies. I&P inaugurated new local offices in Ghana, Cameroon, Senegal, and Madagascar (2012), in Côte d’Ivoire (2014) and in Burkina Faso (2015).
In October 2015, I&P realized the first closing of IPDEV2. The sponsored local funds started their activity. In addition to Sinergi Niger that was operational since 2006, Sinergi Burkina and Teranga Capital (in Senegal) were inaugurated and could work with small and very small enterprises via an adapted financial support. Sinergi and Teranga made their first investment operations, respectively with Siatol and OuiCarry.
Explore:
• First closing of the I&P Développement Fund 2 (IPDEV 2)
• Inauguration of Sinergi Burkina (2015) and Teranga Capital (2016)
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The diversification
In 2017-2018, I&P hopes to reach a new milestone with the launch of the fund I&P Afrique Entrepreneurs 2 (IPAE 2) and the second closing of IPDEV 2 will help the fund to successfully attain the amount of €20m and to complete the entire investment program: 10 impact funds in 10 different countries during 10 years and eventually supporting 500 SMEs and creating 15,000 jobs over the period.
This way I&P supports its goal to create local financing capacities, to promote entrepreneurship and local talents in Africa, and to actively contribute to the realization of the Sustainable Development Goals across the continent.
Read more on I&P Afrique Entrepreneurs 2's first close
I&P's offer is expanding and becoming more structured: in addition to its historical business as an equity investor, I&P has added an Acceleration line, which provides seed financing, and an Ecosystems line in order to contribute to improving the business environment and the SME ecosystem in Africa and to promote the African entrepreneurial reality.
Learn more about the Acceleration and Ecosystems lines
The team is composed of more than 130 people in 2022. Sébastien Boyé and Jérémy Hajdenberg, who joined I&P in 2002 and 2004 respectively, become co-directors of I&P, with Jean-Michel Severino retaining an active role as Chairman of the Supervisory Board.
Vision & Values
Vision
The rise of a high-performing entrepreneurial ecosystem, supported by investors rooted in the continent, is essential for sustainable development and social cohesion in Africa.
Mission
Financing, supporting, and promoting entrepreneurs and SMEs that are transforming Africa, often overlooked by investors despite their immense potential for growth and impact.
Ambition
Contributing to the emergence of 500 champions of entrepreneurship in Africa by 2030
Values
ENTREPRENEURIAL SPIRIT
Innovation and pragmatism in the face of risk-taking are at the heart of our approach both to ensure the growth of companies and in the daily management of projects.
CLOSE PARTNERSHIP
Building close partnership is central to our project and translates into our active presence in the field and in the relationships of trust that we build with entrepreneurs.
The integrity of our team is a fundamental principle of action in the field and is essential to building relationships of trust with our investors, entrepreneurs and communities.
COMMITMENT TO EXCELLENCE
Essential to our investors, our entrepreneurs and our members, this value is associated with our impact will, the rigor of our management, and the economic efficiency of our investments.
Our Ecosystem
Our certifications & commitments
In 2017 I&P joined the community of certified B Corp™ companies, an independent label gathering mission-driven businesses globally. Certified B Corps meet the highest standards of social and environmental performance, transparency and accountability.
I&P was one of the founding signatory of the Operating Principles for Impact Management, a market standard for the impact investing sector, defined by the International Finance Corporation.
I&P publishes an annual report: access our annual Disclosure Statement (2023) | The Independent Verifier Report
I&P has once again been selected to the Impact Assets 50, joining the "Emeritus Manager" category, which includes the most innovative impact investors that have received IA recognition for at least 5 years. The IA 50 is the first publicly available database that provides a gateway into the world of impact investing.
I&P is signatory to the six Principles for Responsible Investment, a voluntary and aspirational set of investment principles that offer a menu of possible actions for incorporating ESG issues into investment practice.
I&P is signatory to the Montréal Carbon pledge, launched in 2014. I&P commits to measure and publicly disclose the carbon footprint of their investment portfolios on an annual basis.
I&P is a member of:
The Malagsy Association of Private Equity Investors (AMIC) aims to federate and represent all private equity operators in Madagascar.
The Aspen Network of Development Entrepreneurs (ANDE) is a global network of organizations that propel entrepreneurship in emerging markets.
EVPA is a membership association made up of organisations interested in or practicing venture philanthropy and social investment across Europe.
France Invest brings together all the private equity structures in France. I&P takes part to the impact investing committee of France Invest.
Convergence is the global network for blended finance, generating blended finance data, intelligence, and deal flow to increase private sector investment in developing countries.
Team
Abdoulaye Diallo
Abdoulaye Lo
Aboubacar Sanou
Adrienne Ndong
Aïcha Savadogo
Aïssatou Gaye
Alassane Baba
Alexis Thirouin
Alice Petetin
Alida Ouedraogo
Alioun Badara Sane
Amara Kouyaté
Aminata Touré
Ando Annette
Anjaratiana Raphaelo Randrianalison
Anna Traoré
Barbara Adolehoume
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).
...Benjamin Ndi
Benson Gagi
Brice Gaël Soubeiga
Brigitte Abbé
Brigitte Abbé
Brigitte Abbé is Seed Manager for I&P Acceleration in Sahel program. She is working for Comoé Capital since January 2018.
...Carine Eba
Caroline Wamanga
Caty Diokhané
Cédric Békouin
Charlotte Specht
Christie Babei
Clémence Bourrin
Corinta Nuwokpo
Cynthia Adannou
Cyrielle Traoré
David Munnich
Dennis Onyango
Djènèba Camara
Djibril Doumbia
Djiby Ndiaye
Dominique Mewoli
Dorcas N. Nabirye
Edith Namusoke
Eléonore Mississo
Eliah Ranaivoson
Emmanuel Cotsoyannis
Eric Ravohitrarivo
Fanahy Tia Ino Raby Alisoa
Fatoumata THIAM
Fiona Randriamampionona
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...
Flaviot Andrianirina
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.
...Gaubys Kouassi
Gérardine Ngankeu
Germaine Nagalo
Ghislaine Dikongue
Gloria Ouédraogo
Hobimanantsoa Rahamison
Hobimanantsoa Rahamison
Graduated from INTEC-Cnam in management and accounting, Hobimanantsoa did a 6 months internship before being definitively integrated as an accountant at Miarakap.
...Hobisoa Francia Rasoanaivo
Hortensia Vahatriniaina
Hortensia Vahatriniaina
Hortensia joined I&P in 2023 as a Junior Financial Monitoring Officer. She was confirmed in this position at the end of her internship.
...Hugues Vincent-Genod
Hugues Vincent-Genod
Hugues joined I&P in 2011 and holds the position of Director within the Mastercard Foundation Africa Growth Fund program since 2022.
Ibrahima Ba
Ingrid Assena
Irina Diamondra Rakotondravelo
Issaka Amadou Boukari
Jean Mermoz Kouakou
Jérémy Hajdenberg
Jessica Miessi
Josias Diamitani
Julie Rouxel
Julie Rouxel
Based in Dakar, Julie joined the I&P Conseil team in 2022 and works both on the coordination of acceleration programs and on consulting missions.
...Kamaloudini Yaou Issoufou
Karmen Ramanitriniony
Kate Allou
Kevin Allah
Khadija Thouré
Kim Kamarebe
Koloina Andrianony
Koloina Andrianony
Koloina ANDRIANONY joins I&P in January 2021 as a Portfolio Manager. Based in Madagascar, she is in charge of portfolio monitoring for the IPAS and IPAT programs.
...Koloina Anjatiana Ramaromandray
Koloina Ramanantsoa
Koumba Anouma
Laetitia Latreille
Laura-Jeanne Amoi
Laurencia Rivesty
Lucy Kimeu
Mahaman Sanoussi Ibrah
Mahamane Maharazou Sani Ango
Mahamane Maharazou Sani Ango
Maharazou joined the SINERGI NIGER team in 2020 as seed manager for the I&P Acceleration in the Sahel program in Niger.
...Mahefa Ramanantsoa
Maïmouna Sylla Baillet
Mamadou NDAO
Manon Calmeil
Manuela BOMA-ATTA
Mariama Moussa Aboubacar
Marianne Vidal-Marin
Marina Aka
Mialy Ranaivoson
Michelle Mboha
Miora Maminjoary
Miora Ranaivoson
Mireille Rakotosoa
Mohamed Keita
Mohamed Ngom
Moïse Samaké
Morgane Awu
Moussa Fofana
Myriam Koné
Ndimby RANDRIAMANANDRAY
Nora Fall BA
Ny Andraina Andriamanantena
Olivier Bokoga
Olivier Furdelle
OluDele Sonekan
Onasoa DORIAN'AY
Onintsoa Valérie Randria
Oty Kévin Aie
Ousmane Niang
Pascaline Mouzou
Prévost Kla
Raphaël Dumont
Rasmey Chhun
Ravo Rasoanaivo
Régis Ouattara
Régis Ouattara
Régis joined the team in July 2022. Based in Abidjan, he is the Seed Funding Manager of I&P Acceleration in Sahel / I&P Education and Employment.
...Riana Andrianiriana
Samira Aouba Moumouni
Samira Soumaila
Sanou Diouf Kane
Sébastien Boyé
Shino Grivel
Sitraka Fabrice Randriambeloson
Sitraka Fabrice Randriambeloson
Gratuated from INSCAE in 2020 , Sitraka Fabrice RANDRIAMBELOSON joined Miarakap’s investment team in february 2021, after 9 months of internship at I&P Madagascar.
...Soraya Baré
Soumaila Derra
Soumaila Derra
Soumaila Derra joined the Sinergi Burkina team in Burkina Faso as a financial analyst after two 11-month internship periods.
...Stella Herimiarandraisoa
Thelma Kodowu
Thelma Kodowu
Thelma joined I&P in 2023 and holds the position of Investment Manager within the Mastercard Foundation Africa Growth Fund. She is based in Accra.
...Thomson RAGOUENA
Tiana Loïckah Andrianantenaina
Timothée OUOBA
Tsiky Rahagalala
Tsiky Rahagalala
Based in Antananarivo – Madagascar, Tsiky RAHAGALALA is the Editorial Content Officer and Community Manager of Investisseurs & Partenaires (I&P)
...Tsilavina Reboza
Vivian Tchatchueng
Wiem Abdeljaouad
Yann Bouadi
Yannick Aboh
Yasmine Bouirig
Yasmine Bouirig
Yasmine joined the I&P Conseil team in 2022 and works on the coordination of the GIZ SAIS agritech acceleration program as well as on the group's consulting missions.
...Zézé Oyé Koivogui
Governance
Executive Board
I&P Supervisory Board