I&P Développement 1 (IPDEV1), Investisseurs & Partenaires’ historical fund launched in 2002 by Patrice Hoppenot, realized two new exits in Mauritania and in Senegal.
In it ten years of operation, IPDEV1 has invested 11 million euros in 33 startups and small businesses based in Sub-Saharan Arica. With these new exits, the fund records close to twenty exits and demonstrates the viability of I&P impact investment model.
Reflecting on IPDEV1 disinvestment phase, which should be achieved by 2019, Sébastien Boyé, Chief Investment Officer at I&P, explains: “It was maybe true that secondary buyouts and trade sales were difficult in the African SME investing space, but this idea is now out of date. For example, out of the 20 exits IPDEV realized, 7 were management buyouts. In the other case, I&P's stake was sold to third parties such as investment funds, suppliers, customers or industrial players”.