AfricaGrow

Overview

AfricaGrow is a fund of funds domiciled in Germany, established to support small and medium-sized enterprises (SMEs) and start-ups across the African continent. The fund achieves this by investing in pan-African regional and country-specific private equity and venture capital funds with proven track records and capacities. Its primary objective is to catalyze the emerging and dynamic African SME and start-up ecosystem, thereby contributing to job creation, income generation, and the strengthening of sustainable economic growth. As a legally independent entity, AfricaGrow serves as a central instrument of the Compact with Africa (CwA) initiative, which was launched in 2017 under the German G20 presidency. The fund is managed by Allianz Global Investors and advised by DEG Impact GmbH. The technical assistance facility is funded by the German Ministry for Economic Cooperation and Development (BMZ) through KfW. AfricaGrow aims to finance 150 innovative SMEs and start-ups in reform-oriented African countries by 2030, promoting sustainable economic and social development. The fund's investments are expected to create over 25,000 new jobs by 2030. The fund's volume stems from cooperation between public and private partners, with initial commitments totaling EUR 170 million. This includes EUR 85 million from the BMZ, EUR 30 million from KfW subsidiary DEG, and EUR 55 to 70 million from Allianz companies. The German Federal Government is providing additional support for accompanying measures. AfricaGrow is a legally independent entity and serves as a central instrument of the Compact with Africa (CwA) initiative, which was launched in 2017 under the German G20 presidency. The fund is managed by Allianz Global Investors and advised by DEG Impact GmbH. The technical assistance facility is funded by the German Ministry for Economic Cooperation and Development (BMZ) through KfW. AfricaGrow aims to finance 150 innovative SMEs and start-ups in reform-oriented African countries by 2030, promoting sustainable economic and social development. The fund's investments are expected to create over 25,000 new jobs by 2030. The fund's volume stems from cooperation between public and private partners, with initial commitments totaling EUR 170 million. This includes EUR 85 million from the BMZ, EUR 30 million from KfW subsidiary DEG, and EUR 55 to 70 million from Allianz companies. The German Federal Government is providing additional support for accompanying measures.

Investment Focus

• Investments in pan-African regional and country-specific private equity and venture capital funds with proven track records and capacities.