News

Mubadala and Bpifrance team up for African PE fund

Africa mapUAE sovereign wealth fund, Mubadala, has signed a memorandum of understanding (MoU) with French investment bank, Bpifrance, to jointly invest in African private equity (PE). The investment partnership will involve deploying up to US$416 million through funds and direct investment in PE and venture capital. More specifically the partnership will focus on direct investment in high-growth African startups, SMEs and mid-caps. In terms of funds, the focus will be on regional, multi-country and pan-African funds and fund managers with a proven track record, according to a statement from the two firms. It is not the first time that Mubadala and Bpifrance have collaborated. The two participated in the French Emirati Fund in 2014 and the Innovation Partnership in 2017 which involved a €1 billion (US$1.18 billion) commitment from Mubadala in Bpifrance’s Lac1 Fund which is dedicated to French multinationals. ©2021 funds global mena

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