Table of Contents
Adenia Partners, the Mauritius-based private equity firm led by Antoine Delaporte, is set to receive up to $30 million in equity investment from the International Finance Corporation for its Adenia Entrepreneurial Fund I, according to an IFC disclosure.
The proposed investment targets small and medium-sized businesses across Africa, a segment IFC says remains essential to economic activity but continues to face limited access to long-term capital. The package also includes a separate co-investment envelope of up to $20 million alongside the fund.
Focus on growth-stage African businesses
Adenia Entrepreneurial Fund I will invest primarily in growth-stage companies operating in light manufacturing, consumer goods and services, renewable energy, healthcare and education. The fund plans to take majority stakes, allowing it to work closely with management teams on governance, operations and expansion plans.
The fund is targeting between $150 million and $180 million in total commitments and expects to invest in 10 to 12 companies. Individual investments are expected to range from $10 million to $20 million. Adenia said the strategy reflects its hands-on approach to building businesses, with support that includes operational expertise, sector knowledge and technical assistance.
The firm also aims to support job creation, with a focus on opportunities for women and young people. The proposal is scheduled to be considered by IFC’s board of directors on Feb. 11, 2026, and remains subject to approval.
Adenia’s expanding African footprint
Founded in 2002 by Antoine Delaporte, Adenia Partners is headquartered in Mauritius and operates regional offices across East, West, North and Southern Africa, including Kenya, Madagascar, Morocco, Nigeria and South Africa. The firm says it has completed more than 30 investments and raised about $950 million across five funds.
Delaporte, who previously built and sold several clothing businesses in Madagascar, leads the firm’s investment strategy and regional expansion. In October last year, Adenia opened a new office in Egypt, extending its presence to eight locations on the continent. During the same period, the firm exited its full stake in OMOA Group through a sale to SPE Capital, concluding an investment made under its €96 million ($106 million) Adenia Capital III fund.
