UAE - Mubasher: Bpifrance has signed a Memorandum of Understanding (MoU) with Mubadala Investment Company (Mubadala) to form a new co-investment partnership that focuses on African private equity.
The two companies will deploy up to EUR 350 million through fund and direct investments in private equity and venture capital to support African startups, small and medium-sized enterprises (SMEs), and mid-caps, according to a press release on Wednesday.
Through this new partnership, the two companies seek to launch joint investments in top-tier African private equity and venture capital funds, with a focus on regional, multi-country, and pan-African funds and fund managers.
Bpifrance and Mubadala have had a strong relationship since the launch of the French Emirati Fund in 2014 and the Innovation Partnership in 2017, with around EUR 1 billion of joint investments in French companies.
Mubadala has also committed EUR 1 billion into Bpifrance’s Lac1 Fund dedicated to listed French multinationals.
The CEO of Bpifrance, Nicolas Dufourcq, said: "We are more convinced than ever of the tremendous potential of Africa’s private sector and of the pivotal role that African private equity will play in uncovering and empowering industrial and tech champions throughout the continent."
Meanwhile, the Deputy Group CEO of Mubadala, Waleed Al Mokarrab Al Muhairi, commented: "Over the years, we have developed a strong relationship with Bpifrance and have successfully invested or committed approximately EUR 1.5 billion in more than 15 investments in France."
