As discussed with the Reporting and Assessment team, we initiated a new activity in 2015: we launched the "IPDEV 2" project, which consists in incubating 10 African investment funds in 10 African countries within the next decade, in order to support 550 early stage SMEs entrepreneurs and contribute to create 15 000 jobs over 15 years. A first closing took place in November 2015.
For each investment fund, IPDEV 2 will bring between 30 to 50% of the capital and raise funds from national, regional and international investors to set up vehicles of € 2,5 to 10 Million. I&P will also equip each fund with an investment and monitoring toolbox tailored to its specific investment strategy. The sharing of know-how will be implemented through:
• A 6-month training of the Managing Director and the Investment Officers
• Common analysis of the deal flow
• Participation to the investment committee of the local vehicle
• Transfer of our ESG & Impact methodology and additional support and coaching, funded by technical assistance grants
As discussed with the Reporting and Assessment team, we are very active in the set-up of these funds, which use the same methodology as I&P, which is being transfered to these local investment vehicles with a close monitoring from our team. Because of this specific involvement, the indirect investment module does not seem appropriate.