Adenia Partners, a private equity firm dedicated to identifying and capitalizing on growth opportunities throughout Africa, has made a significant announcement regarding the successful closure of its Adenia Entrepreneurial Fund I. The fund has reached its hard cap at an impressive $180 million, surpassing the initial target of $150 million. This achievement brings the total amount raised by Adenia Partners to over $1 billion, underscoring the firm’s robust presence in the investment landscape.
The primary objective of the fund is to engage in control investments targeting small and lower mid-cap companies across the African continent, specifically focusing on what Adenia refers to as the largest and most undercapitalized segment of the market. The firm aims to support businesses led by founders and families that are transitioning towards institutional ownership. With nearly two decades of experience in this domain, Adenia is well-equipped to foster operational enhancements and drive long-term value creation for its portfolio.
Additionally, Adenia has emphasized that the fund will prioritize generating sustainable impacts, which include creating job opportunities, improving industrial infrastructure, promoting gender equality and inclusion, and reducing carbon intensity within its portfolio companies. The investor base for this fund comprises a diverse group, including development finance institutions, European family offices, multi-regional fund-of-funds, and African institutional investors.
In conjunction with the fund closure, Adenia Partners has announced its inaugural investment by acquiring a stake in Maymana, a well-established culinary brand based in Morocco, founded in 1985. Maymana specializes in producing traditional Moroccan pastries, bakery items, fine grocery products, and catering services, catering to both local and international markets. Notably, the company is female-founded, female-led, and operates as a family-run business.
Adenia is set to collaborate with Maymana to bolster its institutional capabilities, enhance operational efficiencies, and extend its market reach as part of a broader strategy aimed at scaling founder-led businesses across Africa.
“Reaching our hard cap at first close and in under a year reflects strong conviction in both our strategy and in Africa’s entrepreneurial ecosystem. Adenia and our investors are responding to a clear market opportunity to invest in high-growth, high-impact SMEs across the continent. AEF offers a diversified, pan-African approach while staying true to our core principles: sector-agnostic investing, control positions, and responsible value creation. We believe the time is right to support the next generation of African champions.” said Alexis Caude, Managing Partner at Adenia Partners.
Stéphane Bacquaert, Managing Partner at Adenia Partners, further elaborated, “We see a strong and expanding pipeline of founder-led businesses across Africa that are ready for institutional growth capital. Maymana is a prime example as a high-quality, family-built business with significant expansion potential. The Benchakroun family have built an iconic Moroccan brand and we are excited to partner with Majdouline Benchakroun and the rest of the leadership team to support the next phase of growth, bringing traditional Moroccan tastes to a broader retail and international customer base. Maymana reflects exactly the type of founder-led business AEF was created to support, companies with strong local roots, a well differentiated offering and clear potential to scale. We look forward to partnering with entrepreneurs across the continent as we continue to deploy this fund.”
As reported by pulse2.com.
