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FrançaisLaunch of Comoé capital, first impact fund Dedicated to SMEs and start-up in Côte d’Ivoire
Submitted by on Wed, 04/04/2018 - 15:29
Comoé Capital, the first impact fund dedicated to the financing and support of Ivoirian SMEs and start-ups, officially launched its activities on March 29 following its first board of directors.
Managed by Issa Sidibé, Comoé Capital is the fifth African fund sponsored by Investisseurs & Partenaires as part of its fund I&P Development 2. The network currently includes impact funds specialized in SME-financing in Niger (Sinergi Niger), Burkina Faso (Sinergi Burkina), in Senegal (Teranga Capital) and Madagascar (Miarakap). Learn More →
A new financing solution for high-growth potential SMEs and start-ups
The mission of Comoé Capital is to support the development of a dynamic network of sustainable Ivorian companies and to promote the entrepreneurial spirit by providing adapted financing and personalized support to start-ups and dynamic SMEs. As most Ivoirian SMEs face significant financing difficulties, Comoé Capital aims to provide an innovative financing solution, specifically designed to meet the needs of these SMEs.
Comoé Capital is raising 4.4 billion FCFA after a preparatory phase led by its co-founders, Issa Sidibé and the group Investisseurs & Partenaires. Issa Sidibé is an entrepreneur with a solid experience in banking and equity financing both in Europe (France, Luxembourg) and in Côte d’Ivoire. Investisseurs & Partenaires (I&P) is an impact investing group dedicated to African SMEs founded in 2002. Through its fund IPDEV2, I&P was the initiator of Comoé Capital and brought capital, methodology and business experience. I&P has an office in Abidjan and currently has six Ivorian companies in its portfolio.
"Comoé Capital targets SMEs and start-ups with strong growth potential from all sectors and regions of Côte d'Ivoire with financing needs between 20 million and 300 million FCFA. In addition to strengthening equity through the acquisition of a minority stake, Comoé Capital provides active and personalized support according to the needs of each company (formalizing their management, strengthening their organization, building up their technical skills and accelerating their commercial development…)" explains Issa Sidibé.
Over the next ten years, Comoé Capital's ambition is to finance about 50 companies, which represents between 3 to 5 investments per year.
Beyond its financial objectives, Comoé Capital's mission is to support companies capable of generating positive social, economic and environmental impacts for the benefit of their stakeholders. Its objective over the next decade is to create or maintain more than 2,000 formal jobs, impact directly or indirectly more than 1,400 suppliers, promote the development of human capital through the training of thousands of employees and finally increase the tax contribution of partner companies through the development of their activity, the strengthening of their governance and the implementation of good management practices to international standards.
Jean-Michel Severino, CEO of Investisseurs & Partenaires, explains: "On behalf of all shareholders of IPDEV2, I&P is very pleased to take this new step, two years after starting the creation of Comoé Capital. We are convinced that the talent of its Managing Director, Issa Sidibé, and the commitment of his shareholders will enable the fund to successfully support the growth of promising young companies in the country. Comoé Capital will actively contribute to the improvement of the Ivorian entrepreneurial ecosystem and will be able to count on the network of the 10 African developed by IPDEV2."
Renowned shareholders and strong local roots
To carry out its mission, Comoé Capital can count on the financial, strategic and operational contributions of renowned players in the Ivorian economy. Comoé Capital raised 4.4 billion FCFA from Ivorian and international companies and investors, including:
Comoé Capital also manages the first fund dedicated to SMEs in the education sector in Côte d'Ivoire, financed by the Jacobs Foundation.
Comoé Capital also benefits from the support of the French Development Agency, which has financed part of the implementation costs of the fund and provides technical assistance grants to portfolio SMEs.
In the press
• Agence Ivoirienne de Presse, "Lancement du premier fonds d’investissement à impact dédié aux PME" (29/03/18)
• Agence Ecofin "Lancement de Comoé Capital, premier fonds d’impact dédié aux PME et aux start-up en Côte d’Ivoire" (29/03/18)
• Financial Afrik, "Lancement de Comoé Capital, premier fonds d’impact dédié aux PME et aux start-up en Côte d’Ivoire" (29/03/2018)
• Fratmat, "Soutien à l’entrepreneuriat ivoirien: Comoé Capital pour faciliter l’accès au financement" (30/03/2018)
• L'infodrome, "Financement des Pme et Start-ups : Une nouvelle structure s’installe à Abidjan" (30/03/2018)
• La Tribune Afrique, "Côte d'Ivoire: lancement du premier fonds d'impact dédié aux PME et aux startups" (03/04/2018)
• Abdijan.net "Accès au financement – Comoé Capital met un fonds de 4,4 milliards à disposition des PME et start-up ivoiriennes" (03/04/2018)
