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About IPAE 2

As the successor fund of I&P Afrique Entrepreneurs 1, IPAE 2 continues and deepens the impact mission of Investisseurs & Partenaires and promote the emergence of a new generation of responsible African entrepreneurs.

IPAE 2 aims to invest in equity and quasi-equity as a minority shareholder in 30 to 40 startups and businesses located in Sub-Saharan Africa and the Indian Ocean, and thus contribute to building a sustainable and productive private sector. IPAE 2 also aims to create an investment hub in East Africa, by opening a new office in Nairobi.

IPAE 2 is a generalist fund that targets a large range of sectors that significantly contribute to the achievement of the Sustainable Development Goals (SDGs): agri-business, health, construction industry, renewable energy, microfinance, industry, B2B products and services, etc.

Calendar      2017-2022
Size              €92 million ($100 million)
Status           Under investment
Portfolio       22 SMEs
Tickets         €300,000 - €5 million

IPAE 2 portfolio

Mali Shi

WIN Industries

AerialMetric

Lapaire Glasses

So Fresh

Delta SA

Go Africa Online

iProcure

Afrikrea

Zeepay

Ed Partners

Pigier Cameroun

XpressGas

StarNews

Soafiary

New Crystal

Rensource

CoinAfrique

Procréa

African Management Institute

Afribon

AgroServ

AgroServ Industrie

Trianon Homes

IPAE investment team

Alioun Badara Sane

Investment Officer

Alioun Badara Sane

Investment Officer

Alioun a rejoint l’équipe de I&P Côte d’Ivoire en tant que Chargé d’Investissement sur le programme IPAE. 

Ando Annette

Responsable Back Office

Ando Annette

Responsable Back Office

Based in Antananarivo - Madagascar, Ando Annette has been Back Office Manager for IPAE funds since 2023.

Anna Traoré

Investment Manager

Anna Traoré

Investment Manager

Anna Traoré joined the team in June 2021 as Investment Manager for the fund I&P Afrique Entrepreneurs (IPAE).

Ben Kouakou

Investment Director

Ben Kouakou

Investment Director

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

Investment Officer

Fitia Fonenantsoa

Investment Officer

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

Investment Manager

Francis Owusu

Investment Manager

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.

...

Landry Parkouda

Investment Manager

Landry Parkouda

Investment Manager

Landry joined the IPAE investment team in 2018. Based in Ouagadougou, he is in charge of the portfolio in Burkina Faso, Mali and Niger.

Mialy Ranaivoson

Investment Director

Mialy Ranaivoson

Investment Director

Mialy is Investment Director and also Director of Impact and ESG for the IPAE funds. She joined I&P in 2012. 

Ny Andraina Andriamanantena

Chargée Impact et ESG

Ny Andraina Andriamanantena

Chargée Impact et ESG

Based in Madagascar, Ny Andraina joined I&P in 2023 as Impact and ESG Officer for the IPAE funds.

Oty Kévin Aie

Investment Officer

Oty Kévin Aie

Investment Officer

Kevin joined I&P in 2019 as an Investment Officer for IPAE 1 & 2 in Côte d'Ivoire.

Shino Grivel

Finance and Operations Oversight Director

Shino Grivel

Finance and Operations Oversight Director

Shino joined I&P in 2019 and works as Finance and Operations Oversight Director for the funds IPAE.

IPAE 2 governance

IPAE is governed by 2 bodies, the Investment Committee and the Extra-Financial Committee.

I&P team can count on the support of high-level advisors with extensive experience in: macroeconomic issues, geopolitics and African politicas, financial and legal structuring, information systems, project management, branding, microfinance, bank relations...

The Investment Committe will be regularly consulted for its opinion on every investment or divestment proposal related to I&P Afrique Entrepreneurs 2.


It is composed of:

  • Olivier LAFOURCADE, Chairman of IPDEV Board
  • Luc RIGOUZZO, Executive President of Amethys Finance
  • Hervé SCHRICKE, President Club Afrique, AFIC
  • François WOHRER, CEO of Degroof Petercam France
  • Carole RAMELLA, Managing Director of GFA Consulting LTD
  • Cheick SANANKOUA, Managing Director of HC Capital Properties

An extra-financial committe is composed of independent members and is regularly consulted. Its role includes the review of the extra-financial policy and its specifi goals, and of the annual ESG and impact assessment.


It is composed of:

  • Swaady MARTIN, Founder and Chairman of Ysawara
  • Michel JACQUIER
  • Mariam DJIBO, Principal of Adenia
  • Pascale DATTIN, ESG Consultant
  • Farid BADDACH, Executive Director of BSR

Last IPAE 2 news

I&P Afrique Entrepreneurs 2 (IPAE 2) carries out its first investments
News | 09/10/2018  The fund I&P Afrique Entrepreneurs 2, launched in December 2017 with a first closing at €50 million, made its first investments. Operating in various sectors of activity, the first companies of IPAE 2 portfolio share a common feature: the choice to develop their activities, from the...

Investisseurs & Partenaires launches a new fund: I&P Afrique Entrepreneurs 2 (IPAE 2)
News | 12/12/2017  On the occasion of celebrating fifteen years of investment, Investisseurs & Partenaires (I&P), the impact investing group dedicated to Small and Medium Enterprises in Sub-Saharan Africa, has announced the first closing of IPAE 2, a new impact fund combining performance and impact...

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