Mediterrania Capital Partners reaches €286 million final closing for its third fund for Africa
Mediterrania Capital Partners announced on Friday it has reached a €286 million ($317.3 million) final closing for its third fund for Africa, Mediterrania Capital III (MC III).
Mediterrania is a private equity firm focused on growth investments for small and medium-sized enterprises as well as mid-cap companies in North and Sub-Saharan Africa.
MC III is an eight-year fund that targets SMEs in North African countries, including Algeria, Egypt, Morocco, and Tunisia, as well as West and Central African countries including Senegal, the Ivory Coast, and Cameroon.
Looking to take substantial minority or majority stakes, the fund is investing in companies that are well-established in their local markets and have the potential to scale up their activities at the regional level and across the African continent.
To date, 60 percent of the fund has already been invested in five portfolio companies:
- TGCC – Leader in the construction industry in Morocco with operations in Senegal and the Ivory Coast
- Cofina – Leading meso-finance institution in West and Central Africa operating in Ivory Coast, Senegal, Guinea Conakry, Gabon, Mali, Congo Brazzaville and Burkina Faso through a network of 90 agencies
- Cairo Scan – The leading private provider of radiological and clinical laboratory services in Egypt
- Aziza – One of the leading food retail operators in Tunisia with 280+ stores across the country covering 83,000 sq.m of sales area
- Akdital Holding – The largest private clinic in Morocco with five clinics in greater Casablanca and a capacity of 550 beds
“We are extremely thankful for the continued support of our LPs. At a time when the spread of COVID-19 pandemic is causing an unprecedented threat to people and economies around the world, MC III brings additional financial help at a crucial moment for African SMEs.” Albert Alsina, chief executive and founder of Mediterrania Capital Partners, said.
“Through our local teams in Casablanca, Algiers, Cairo, and Abidjan, we will continue to search for the best investment opportunities and work closely with our existing portfolio, guiding the implementation of the operational and social measures needed to overcome this difficult phase, and ultimately building resilient companies with the foundations required for long-term growth.”
In 2019, Mediterrania Capital Partners was granted an Alternative Investment Fund Manager Licence (AIFM) under the Directive 2011/61/EU by the MFSA (Malta Financial Services Authority).
This licence requires fund managers to comply with a stringent regulatory and supervisory framework that includes strong governance processes.
Saâd Bendidi, Mediterrania Capital’s chairman and partner, added: “Thanks to the granting of the AIFM Licence, we have been able to welcome new investors to Mediterrania Capital III and close our third fund above expectations.”
Established in Malta in 2013, Mediterrania Capital Partners has always advocated clear and strong governance in all its Group Companies, funds and portfolio companies. Since it began operations, the
Private Equity firm has conducted its business and investments under strict governing processes that provide both a long-term foundation and financial transparency and best practice governance across all related Mediterrania Capital companies.
