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Newsletter n°20 | January 2018
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IN THIS NEWSLETTER:
 
EDITO • Jean-Michel Severino | FOCUS Launch of the new fund IPAE 2 | NEWS AT I&P | PORTRAIT • Tribute to Patrice Hoppenot | NEWS FROM THE PORTFOLIO | ANALYSIS • Fifteen Lessons from Africa • Economic and Political Outlook in 2018 | PRESS | AGENDA

▬▬▬▬▬▬▬▬▬▬▬  EDITO  ▬▬▬▬▬▬▬▬▬▬▬
Jean-Michel Severino
CEO of Investisseurs & Partenaires



In 2017 I&P celebrated its fifteenth anniversary. Fifteen years ago, Patrice Hoppenot started the adventure, convinced that private equity could be a useful tool for small and medium-sized businesses in sub-Saharan Africa. I

More than €125 million raised and 79 investments committed, I&P’s community - entrepreneurs, investors, team, volunteers, partners, friends - can testify to the accuracy of the two great intuitions that allowed I&P not only to survive the many difficulties encountered, but above all, to grow significantly for more impact.

We share today key lessons from this 15-year experience in African SME and startup financing with a new document entitled "Fifteen Lessons from Africa". This document will be distributed throughout the year 2018, chapter by chapter.
 
Read full Edito

▬▬▬▬▬▬▬▬▬▬  FOCUS  ▬▬▬▬▬▬▬▬▬▬


Launch of IPAE 2 in Paris on December 7, 2017

Investisseurs & Partenaires announced the first closing of its new fund I&P Afrique Entrepreneurs 2 (IPAE 2), at €50.3 million.

Having fully invested IPAE 1, launched in 2012 with a fund size of €54 million, Investisseurs & Partenaires decided to launch a bigger successor fund to target growing African SMEs with higher financing needs ranging from €300,000 to €3 million.

With a target size of €80 million, IPAE 2 will 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.

Read More

▬▬▬▬▬ WHAT'S NEW AT I&P? ▬▬▬▬▬

I&P and Jacobs Foundation launch with Comoé Capital a new impact fund dedicated to education in Côte d'Ivoire, the Education Impact Fund (EIF). The fund will support 10 education-related SMEs in Côte d'Ivoire by 2021.
Read More

I&P obtains the B Corp™ certification, an independent label gathering mission-driven businesses globally. There are around 50 certified companies in France to date, and the community is growing rapidly.
Read More

L'Harmattan publishes the new book of Pierre Daubert, "The Intuition of Africa", which tells the story of I&P from 2002  to 2011. (For now the book is available in French only).

Read More



▬▬▬▬▬▬▬▬▬▬ PORTRAIT ▬▬▬▬▬▬▬▬▬▬

Tribute to Patrice Hoppenot,

Founder of Investisseurs & Partenaires


It is with great sadness that we announce the death of Patrice Hoppenot, founder of Investisseurs & Partenaires (I&P), who passed away on December 19, 2017.
 


The I&P family, our team, the entrepreneurs we support, our investors, said goodbye to an exceptional man who, in 2002, had the audacity to listen to his deep conviction: entrepreneurship has an essential role to play in the economic and social development of Africa and there are entrepreneurs on the continent who have all the qualities to succeed: let’s provide them with long-term capital and support that will make the difference.

Coming from the world of European private equity, knowing little about Africa, Patrice has managed to federate energies and adapt the private equity methodology to the realities of African SMEs. He has always done it with rigor, a high level of requirement, but also with a charm, a humor, an obvious pleasure, a generosity, which created a powerful dynamic in favor of the African SMEs, whose scope even surprised him!

Pierre Daubert, a consultant and specialist in financial inclusion, friend of Patrice and I&P, publishes this month a book on the creation and evolution of Investisseurs & Partenaires from 2002 to 2011. The book highlights the originality of his approach, well expressed in this title: The intuition of Africa.

Jean-Michel Severino, who took over from Patrice at the head of I&P, also paid tribute to the founder of the company at the event organized on December 6, 2017 to celebrate I&P’s anniversary: “The first invention of Patrice Hoppenot is modern Africa, that of entrepreneurs and growth. In the early 2000s, the continent is just emerging from structural adjustment. Talks about the continent are all about budget constraints and poverty. At this moment, however, Patrice sees an Africa rising, the one we live with every day: an Africa that undertakes, an Africa eager for recognition, independence, a creative Africa.”
 
Today, as Investisseurs & Partenaires celebrates its 15 anniversary, 80 African entrepreneurs have been supported in 15 countries, 6 African investment funds will soon be created, our team has more than 40 professionals including 20 in Africa. We are proud to continue the action initiated by Patrice, and we will always seek to lead it with the same rigor and the same generosity.



▬▬▬▬ NEWS FROM OUR PARTNERS ▬▬▬▬

More than 40 entrepreneurs supported by I&P were gathered on the campus of HEC Paris for the 6th annual training seminar, organized in partnership with the African Club of Entrepreneurs.
Read More

NEST was selected among EVPA's "sucess stories", featuring a set of innovative projects supported by foundations and impact funds.

Seydou Béyé (Trianon) received the price of the best entrepreneur  at the closing ceremony of the LEAD campus program.
Read More

Six entrepreneurs supported by I&P were interviewed by Africa N°1. They speak about their achievements, difficulties and greatest satisfactions!

Read More

PEG Africa, the leading off-grid solar company in West Africa, has announced a successful fundraising of US$13,5 million.
Read More

The President of Burkina Faso Roch Kaboré et the Prince Albert II of Monaco visited on January 12 AgroServ Industrie, a new unit specialized in maize processing supported by Sinergi Burkina.
Read More


 

▬▬▬▬ INVESTMENTS & EXITS ▬▬▬▬

Teranga Capital, a Senegalese impact fund sponsored by IPDEV2, welcomes in its portfolio Lysa & Co, a Senegalese company specialized in the processing and marketing of agricultural products such as peanuts, cashew and maize. It has long-standing expertise to offer healthy, natural and high-quality products elaborated with local raw materials transformed according to artisanal processes. Read More




▬▬▬▬▬ INTELLIGENCE & ANALYSIS ▬▬▬▬▬
I&P publishes the first two chapters of its "15 lessons from Africa"

"15 lessons of Africa" is a new document conceived by I&P team to share of the key insights learned from a 15-year experience in African SME and startup financing.

The first two chapters are available. The first one deals with strategic issues:
we try to show the characteristics of the African context which any investor should consider when defining their investment strategy. The second chapter is about the  structural changes of Africa’s economy and markets:

Chapter I: Lessons of strategy
Lesson n°1: Africa is one continent, but a diverse one
Lesson n°2: The business environment is improving, but in a gradual and disparate way, which engenders integrity risks for firms
Lesson n°3: The African middle class is shaking up market dynamics but has not closed the debate on growth patterns

Chapter II: Market Lessons
Lesson n°4: The African economy: moving from imitation to innovation
Lesson n°5: Meeting the basic needs of the domestic markets is a priority but is feeding Africa financially viable?
Lesson n°6: Market access, a path too often overlooked…
 
Economic and political outlook in Sub-Saharan Africa in 2018

The African Development Bank has published the 2018 edition of its flagship annual report, the "African Economic Outlook". Click here to download the report ►

Review of a more political topic, with a focus on the elections scheduled for 2018 on the African continent. Among the presidential elections to be followed carefully include Mali, Cameroon and Madagascar. Discover the infography edited by Jeune Afrique ►
 

▬▬▬▬▬▬▬▬ LATEST NEWS ▬▬▬▬▬▬▬▬

In the press


Several articles focus on the launch of IPAE 2, announced in December 2017, including Le Monde (12 déc.), Jeune Afrique (12 déc.), Lefaso.net (12 janvier) ...

On the occasion of the Forum "Invest in Mali", held in Bamako on 7 and 8 December, Sidy Niang, Investment Manager in charge of I&P's portfolio in Burkina Faso, Mali and Niger, was interviewed by Le Journal du Mali. Read Article →

Agenda



►Paris, January 27: J.-M. Severino will speak at the à la conférence "Private Finance for Sustainable Development organized by the OECD.

►Casablanca, February 14: I&P will participate to the annual conference of the AMIC (The Moroccan Association of Capital Investors).

►Abidjan, March 26-27: J.-M. Severino will attend the sixth edition of the Africa CEO Forum, an event bringing together many African and international business leaders.

Investisseurs & Partenaires (I&P) est un ensemble de fonds d'impact entièrement dédié au continent africain. Avec 125 millions d'euros sous gestion, I&P a accompagné près de 80 Petites et Moyennes Entreprises réparties dans 15 pays africains.

Copyright © 2018 I&P, All rights reserved.


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