The International Finance Corporation has proposed an investment of up to $30 million in Capital Alliance Private Equity Fund V. The vehicle is sponsored by Lagos-based African Capital Alliance. The proposal also includes a $20 million co-investment envelope.
Fund target and regions
CAPE V is seeking $500 million in investor commitments. Its maximum fundraising limit is $750 million. The fund will invest exclusively in Africa, with a focus on sub-Saharan markets.
Sponsor track record
African Capital Alliance was founded in 1997. Co-founder Okechukwu Enelamah chairs the firm. It has raised more than $1.2 billion across four private equity funds.
IFC relationship
IFC first backed ACA through CAPE I in 1999. It later approved a $40 million investment in CAPE IV in 2015. IFC's proposed participation remains a potential investment rather than a completed commitment.
The fund plans investments between $20 million and $80 million per transaction. It expects to hold a portfolio of 10 to 15 companies. It will pursue controlling interests or significant minority stakes.