AfDB Commits $15 Million Equity Investment to Adenia Fund I for African Mid-Cap Growth

The African Development Bank (AfDB) has officially greenlit a $15 million equity investment into the Adenia Entrepreneurial Fund I (AEF I), a dedicated growth-focused investment vehicle managed by Adenia Partners. This strategic injection of capital is specifically targeted at providing crucial growth funding to a portfolio of small- and mid-cap companies across diverse African markets. The investment aligns with the AfDB’s broader objective of strengthening continental economic resilience through targeted private sector support. AEF I will strategically target established businesses operating in sectors identified as critical for driving inclusive development and ensuring long-term sustainability across Africa. These key sectors include light industry, consumer goods and services, renewable energy, healthcare, and education. The Fund’s strategy centers on acquiring majority stakes in these firms, a proactive approach that enables Adenia Partners to actively drive substantial operational improvements, strengthen internal management practices, and effectively implement robust, accelerated growth strategies. As the experienced Fund manager, Adenia will commit to assisting portfolio firms by collaboratively designing strategic development plans, ensuring tangible value creation, providing access to essential advice from sector experts, and obtaining necessary technical assistance. The African Development Bank estimates that this robust fund will deliver significant socio-economic returns for the region, including the generation of approximately $55.5 million in tax revenue for various African governments, alongside the creation of thousands of new, sustainable jobs.